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

HMH (NASDAQ:HMH) was downgraded by analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a research report issued to clients and investors on Tuesday, Zacks reports.

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

HMH Price Performance

Shares of HMH stock opened at $11.72 on Tuesday. The firm has a market cap of $514.91 million and a P/E ratio of 14.29. The firm’s 50-day simple moving average is $17.87 and its 200-day simple moving average is $19.42. HMH has a twelve month low of $10.31 and a twelve month high of $24.50. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.72 and a current ratio of 2.84.

HMH (NASDAQ:HMH) last posted 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 company had revenue of $171.08 million for the quarter. As a group, research analysts expect that HMH will post 0.44 EPS for the current fiscal year.

Institutional Trading of HMH

Several hedge funds have recently modified their holdings of HMH. Boston Partners bought a new position in shares of HMH in the third quarter valued at approximately $405,000. Russell Investments Group Ltd. acquired a new position in shares of HMH in the 3rd quarter worth approximately $31,000. Kornitzer Capital Management Inc. KS bought a new stake in HMH during the 3rd quarter worth approximately $490,000. State Street Corp bought a new stake in HMH during the 2nd quarter worth approximately $2,825,000. Finally, Squarepoint Ops LLC bought a new stake in HMH during the 2nd quarter worth approximately $1,076,000.

HMH Company Profile

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.