Houghton Mifflin Harcourt (HMHC) Downgraded to “Hold” at Zacks Investment Research

Houghton Mifflin Harcourt (NASDAQ:HMHC) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Thursday.

According to Zacks, “Houghton Mifflin Harcourt Company is a global provider of education solutions, delivering content, technology, services and media to students in over 150 countries worldwide. The Company delivers its offerings to both educational institutions and consumers. It provides kindergarten through twelfth grade, or K-12, educational content in the United States. The Company, through its subsidiary, provides print and electronic textbook curriculum, learning content, and assessment tools and services. Houghton Mifflin Harcourt Company is headquartered in Boston, Massachusetts. “

HMHC has been the topic of several other reports. ValuEngine upgraded shares of Houghton Mifflin Harcourt from a “strong sell” rating to a “sell” rating in a research note on Saturday, November 4th. Citigroup dropped their price objective on shares of Houghton Mifflin Harcourt from $16.00 to $15.00 and set a “buy” rating on the stock in a research note on Friday, November 3rd. Morgan Stanley dropped their price objective on shares of Houghton Mifflin Harcourt from $12.00 to $11.00 and set an “equal weight” rating on the stock in a research note on Monday, October 23rd. BidaskClub lowered shares of Houghton Mifflin Harcourt from a “sell” rating to a “strong sell” rating in a research note on Friday, January 19th. Finally, Piper Jaffray Companies restated a “hold” rating and issued a $14.00 price objective on shares of Houghton Mifflin Harcourt in a research note on Friday, November 3rd. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $12.42.

Shares of Houghton Mifflin Harcourt (NASDAQ HMHC) traded down $0.30 during trading hours on Thursday, reaching $7.15. 757,711 shares of the company traded hands, compared to its average volume of 743,783. Houghton Mifflin Harcourt has a 12-month low of $7.15 and a 12-month high of $13.95. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.38 and a quick ratio of 1.10. The firm has a market cap of $881.83, a price-to-earnings ratio of -3.39 and a beta of 0.45.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Public Employees Retirement System of Ohio increased its stake in shares of Houghton Mifflin Harcourt by 25.1% during the second quarter. Public Employees Retirement System of Ohio now owns 8,628 shares of the business services provider’s stock worth $106,000 after acquiring an additional 1,729 shares during the period. Atria Investments LLC acquired a new position in shares of Houghton Mifflin Harcourt during the fourth quarter worth about $110,000. Verition Fund Management LLC acquired a new position in shares of Houghton Mifflin Harcourt during the second quarter worth about $128,000. SG Americas Securities LLC acquired a new position in shares of Houghton Mifflin Harcourt during the fourth quarter worth about $130,000. Finally, Great West Life Assurance Co. Can increased its stake in shares of Houghton Mifflin Harcourt by 107.7% during the third quarter. Great West Life Assurance Co. Can now owns 16,613 shares of the business services provider’s stock worth $199,000 after acquiring an additional 8,613 shares during the period.

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Houghton Mifflin Harcourt Company Profile

Houghton Mifflin Harcourt Company (HMH) is a global learning company, specializing in education solutions across a range of media. The Company operates through two segments: Education and Trade Publishing. As of December 31, 2016, the Company delivered content, services and technology to both educational institutions and consumers, reaching over 50 million students in approximately 150 countries across the world.

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