Citigroup Lowers Houghton Mifflin Harcourt (NASDAQ:HMHC) Price Target to $8.00

Houghton Mifflin Harcourt (NASDAQ:HMHC) had its price target dropped by research analysts at Citigroup from $10.00 to $8.00 in a research note issued to investors on Tuesday, The Fly reports. The firm currently has a “buy” rating on the business services provider’s stock. Citigroup‘s price objective indicates a potential upside of 43.88% from the company’s previous close.

A number of other analysts have also recently commented on the company. Zacks Investment Research cut ExlService from a “hold” rating to a “sell” rating in a research report on Wednesday, July 10th. ValuEngine cut Zumiez from a “hold” rating to a “sell” rating in a research report on Tuesday, July 2nd. BidaskClub upgraded Misonix from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, July 3rd. Finally, TheStreet upgraded Vermilion Energy from a “d+” rating to a “c” rating in a research report on Friday, March 22nd. Two research analysts have rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $9.30.

Houghton Mifflin Harcourt stock opened at $5.56 on Tuesday. The company has a debt-to-equity ratio of 1.37, a current ratio of 1.20 and a quick ratio of 0.63. Houghton Mifflin Harcourt has a one year low of $5.07 and a one year high of $10.64. The firm’s fifty day moving average price is $5.47.

Houghton Mifflin Harcourt (NASDAQ:HMHC) last posted its quarterly earnings data on Thursday, May 9th. The business services provider reported ($0.95) EPS for the quarter, missing analysts’ consensus estimates of ($0.73) by ($0.22). The firm had revenue of $195.00 million for the quarter, compared to analysts’ expectations of $201.61 million. Houghton Mifflin Harcourt had a negative net margin of 8.25% and a negative return on equity of 18.93%. The firm’s revenue was down 2.5% compared to the same quarter last year. During the same quarter last year, the company posted ($0.82) EPS. As a group, research analysts anticipate that Houghton Mifflin Harcourt will post -0.54 earnings per share for the current year.

In related news, Director Lawrence K. Fish purchased 20,000 shares of Houghton Mifflin Harcourt stock in a transaction on Monday, May 13th. The stock was acquired at an average price of $6.47 per share, for a total transaction of $129,400.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 1.69% of the company’s stock.

Institutional investors and hedge funds have recently modified their holdings of the business. Private Capital Group LLC increased its position in Houghton Mifflin Harcourt by 91.3% in the first quarter. Private Capital Group LLC now owns 4,400 shares of the business services provider’s stock worth $32,000 after buying an additional 2,100 shares in the last quarter. Signition LP bought a new position in shares of Houghton Mifflin Harcourt in the first quarter worth about $84,000. Menta Capital LLC bought a new position in shares of Houghton Mifflin Harcourt in the first quarter worth about $94,000. Symons Capital Management Inc. bought a new position in shares of Houghton Mifflin Harcourt in the first quarter worth about $115,000. Finally, Amundi Pioneer Asset Management Inc. bought a new position in shares of Houghton Mifflin Harcourt in the fourth quarter worth about $157,000. Institutional investors and hedge funds own 94.92% of the company’s stock.

About Houghton Mifflin Harcourt

Houghton Mifflin Harcourt Company, a learning company, provides curriculum, supplemental, and intervention solutions; and professional learning services worldwide. The company operates in two segments, Education and Trade Publishing. The Education segment provides educational products, technology platforms, and services, including print and digital content in the form of textbooks, digital courseware, instructional aids, educational assessment, and intervention solutions for students.

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