Zacks Research Upgrades Scholastic (NASDAQ:SCHL) to “Hold”

Scholastic (NASDAQ:SCHL) was upgraded by stock analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a note issued to investors on Tuesday, Zacks reports.

A number of other research firms also recently issued reports on SCHL. Weiss Ratings upgraded shares of Scholastic from a “hold (c)” rating to a “hold (c+)” rating in a report on Friday, September 11th. B. Riley Financial boosted their price target on shares of Scholastic from $40.00 to $42.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 8th. Three analysts have rated the stock with a Hold rating, According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $42.00.

Scholastic Stock Performance

Scholastic stock opened at $35.36 on Tuesday. Scholastic has a 1 year low of $25.60 and a 1 year high of $48.07. The company’s 50-day moving average is $39.94 and its two-hundred day moving average is $40.46. The company has a current ratio of 1.23, a quick ratio of 0.78 and a debt-to-equity ratio of 0.10. The company has a market cap of $666.89 million, a PE ratio of 15.11, a PEG ratio of 1.68 and a beta of 1.01.

Scholastic (NASDAQ:SCHL) last announced its quarterly earnings results on Thursday, July 23rd. The company reported $2.19 earnings per share for the quarter, beating analysts’ consensus estimates of $2.16 by $0.03. Scholastic had a net margin of 3.58% and a return on equity of 5.29%. The business had revenue of $476.10 million for the quarter, compared to the consensus estimate of $517.06 million. During the same period last year, the company posted $0.59 EPS. Equities analysts anticipate that Scholastic will post 1.61 earnings per share for the current year.

Insider Activity at Scholastic

In other Scholastic news, EVP Iole Lucchese sold 289,624 shares of the business’s stock in a transaction that occurred on Wednesday, August 26th. The stock was sold at an average price of $39.76, for a total transaction of $11,515,450.24. Following the transaction, the executive vice president owned 289,623 shares of the company’s stock, valued at $11,515,410.48. The trade was a 50.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Kaya Henderson sold 3,250 shares of the firm’s stock in a transaction that occurred on Thursday, August 6th. The shares were sold at an average price of $40.25, for a total value of $130,812.50. Following the completion of the sale, the director directly owned 7,113 shares of the company’s stock, valued at approximately $286,298.25. The trade was a 31.36% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 294,986 shares of company stock worth $11,731,334. Insiders own 12.77% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Quantinno Capital Management LP boosted its position in shares of Scholastic by 3.2% during the 1st quarter. Quantinno Capital Management LP now owns 23,186 shares of the company’s stock valued at $906,000 after acquiring an additional 729 shares during the last quarter. Meeder Asset Management Inc. bought a new stake in shares of Scholastic during the 2nd quarter worth $43,000. Integrated Wealth Concepts LLC purchased a new position in Scholastic in the second quarter worth $56,000. Sanctuary Advisors LLC grew its position in Scholastic by 21.8% in the first quarter. Sanctuary Advisors LLC now owns 12,170 shares of the company’s stock worth $475,000 after acquiring an additional 2,182 shares in the last quarter. Finally, State of Wyoming bought a new position in Scholastic in the second quarter valued at $115,000. Institutional investors and hedge funds own 82.57% of the company’s stock.

Scholastic Company Profile

Scholastic Corporation is a global children’s publishing, education and media company. Founded in 1920 by M. R. Robinson, the company develops and distributes books, classroom materials, digital learning resources and educational media for children, families, teachers and schools.

Its publishing portfolio includes original and licensed children’s books, series and educational titles, while its education business provides classroom magazines, supplemental curriculum materials, professional learning resources and digital platforms.