HMH (NASDAQ:HMH) Stock Rating Cut to Hold at Zacks Research

HMH (NASDAQ:HMH) was downgraded by Zacks Research from a “strong-buy” rating to a “hold” rating in a report released on Tuesday, Zacks reports.

Several other equities research analysts have also weighed in on the company. JPMorgan Chase & Co. lowered HMH from an “overweight” rating to a “neutral” rating and set a $15.00 target price for the company. in a report on Friday, November 6th. Evercore set a $24.00 price target on HMH in a report on Friday, August 7th. Stifel Nicolaus increased their price target on HMH from $27.00 to $28.00 and gave the company a “buy” rating in a report on Wednesday, August 12th. Finally, Piper Sandler dropped their price target on shares of HMH from $32.00 to $26.00 and set an “overweight” rating on the stock in a research report on Monday. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, HMH has a consensus rating of “Moderate Buy” and an average price target of $24.60.

HMH Price Performance

NASDAQ HMH opened at $11.72 on Tuesday. HMH has a fifty-two week low of $10.31 and a fifty-two week high of $24.50. The stock’s 50-day moving average is $17.87 and its two-hundred day moving average is $19.42. The firm has a market cap of $514.91 million and a P/E ratio of 14.29. The company has a debt-to-equity ratio of 0.23, a current ratio of 2.84 and a quick ratio of 1.72.

HMH (NASDAQ:HMH) last released its quarterly earnings results on Wednesday, November 4th. The company reported $0.40 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.54 by ($0.14). The firm had revenue of $171.08 million during the quarter. On average, analysts anticipate that HMH will post 0.44 earnings per share for the current fiscal year.

Hedge Funds Weigh In On HMH

Several large investors have recently added to or reduced their stakes in HMH. Citadel Advisors LLC acquired a new stake in shares of HMH during the 2nd quarter worth approximately $12,624,000. State Street Corp bought a new stake in shares of HMH during the second quarter valued at approximately $2,825,000. Readystate Asset Management LP acquired a new position in shares of HMH in the second quarter valued at $1,499,000. Squarepoint Ops LLC acquired a new position in shares of HMH in the second quarter valued at $1,076,000. Finally, Kornitzer Capital Management Inc. KS bought a new position in HMH in the third quarter worth $490,000.

About HMH

HMH Holding Inc. provides drilling equipment, systems and services for the global energy industry. Its offerings include drilling and well-control systems, equipment for offshore rigs, and aftermarket support such as maintenance, upgrades and spare parts. The company serves drilling contractors and energy operators in offshore and onshore markets. Its operations bring together the MHWirth business and Baker Hughes’ subsea drilling systems business, which combined to form HMH.