HMH (NASDAQ:HMH) Stock Gets Price Target Trim from Piper Sandler

Key Points

• Piper Sandler cut HMH’s price target from $32 to $26 but maintained its Overweight rating; the new target implies about 125% upside from the stock’s reported $11.55 price.
• Analyst sentiment was broadly positive: MarketBeat reported a consensus Buy rating and average target price of $24.60, though JPMorgan downgraded the stock to Neutral with a $15 target.
• HMH reported quarterly EPS of $0.40, missing the $0.54 consensus estimate, and revenue of $171.08 million.

HMH (NASDAQ:HMH - Get Free Report) had its target price decreased by equities research analysts at Piper Sandler from $32.00 to $26.00 in a research report issued on Monday, Benzinga reports. The firm currently has an "overweight" rating on the stock. Piper Sandler's price target would suggest a potential upside of 125.01% from the stock's current price.

Other analysts also recently issued research reports about the company. Evercore set a $24.00 target price on HMH in a research report on Friday, August 7th. Zacks Research upgraded shares of HMH from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, November 4th. JPMorgan Chase & Co. downgraded shares of HMH from an "overweight" rating to a "neutral" rating and set a $15.00 price target on the stock. in a research note on Friday. Finally, Stifel Nicolaus boosted their price objective on shares of HMH from $27.00 to $28.00 and gave the stock a "buy" rating in a report on Wednesday, August 12th. Two analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of "Buy" and an average target price of $24.60.

HMH Price Performance

NASDAQ HMH traded up $0.61 during trading hours on Monday, reaching $11.55. 96,422 shares of the stock traded hands, compared to its average volume of 267,603. The stock has a 50 day simple moving average of $18.36 and a two-hundred day simple moving average of $19.58. HMH has a 1 year low of $10.70 and a 1 year high of $24.50. The company has a debt-to-equity ratio of 0.23, a current ratio of 2.84 and a quick ratio of 1.72. The company has a market cap of $507.66 million and a price-to-earnings ratio of 27.70.

HMH (NASDAQ:HMH - Get Free Report) last announced its quarterly earnings data on Wednesday, November 4th. The company reported $0.40 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 predict that HMH will post 1.73 EPS for the current fiscal year.

Institutional Investors Weigh In On HMH

Several institutional investors have recently bought and sold shares of the stock. Russell Investments Group Ltd. purchased a new position in HMH in the 3rd quarter worth approximately $31,000. Kornitzer Capital Management Inc. KS purchased a new stake in shares of HMH during the third quarter valued at approximately $490,000. Squarepoint Ops LLC purchased a new stake in shares of HMH during the second quarter valued at approximately $1,076,000. Readystate Asset Management LP bought a new position in shares of HMH in the second quarter worth approximately $1,499,000. Finally, State Street Corp purchased a new position in shares of HMH in the second quarter worth $2,825,000.

About HMH

We are a leading provider of highly engineered, mission-critical equipment solutions, providing customers with a comprehensive portfolio of drilling equipment, services and systems utilized in oil and gas drilling operations, both offshore and onshore. Our global reach, technical expertise and innovative product offerings, coupled with our integrated operations from manufacturing to aftermarket services, allow us to provide customers with first class technology, engineering and project management services through the entire asset lifecycle of the equipment we provide.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.