Scholastic (NASDAQ:SCHL) Raised to “Hold” at Wall Street Zen

Scholastic (NASDAQ:SCHL) was upgraded by analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Sunday, Wall Street Zen reports.

Other research analysts have also recently issued reports about the stock. Zacks Research upgraded shares of Scholastic from a “strong sell” rating to a “hold” rating in a research report on Tuesday, September 22nd. Weiss Ratings downgraded shares of Scholastic from a “hold (c+)” rating to a “hold (c-)” rating in a research note on Monday, September 28th. Finally, B. Riley Financial lowered their price objective on shares of Scholastic from $42.00 to $35.00 and set a “neutral” rating for the company in a report on Monday, September 28th. Three investment analysts have rated the stock with a Hold rating. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $35.00.

Scholastic Trading Up 4.8%

Shares of SCHL stock opened at $39.48 on Friday. The business has a 50-day moving average price of $37.65 and a two-hundred day moving average price of $40.56. Scholastic has a 12-month low of $26.38 and a 12-month high of $48.07. The company has a quick ratio of 0.71, a current ratio of 1.25 and a debt-to-equity ratio of 0.27. The firm has a market cap of $744.59 million, a P/E ratio of 28.20, a price-to-earnings-growth ratio of 2.06 and a beta of 1.08.

Scholastic (NASDAQ:SCHL) last announced its quarterly earnings data on Thursday, September 24th. The company reported ($3.63) EPS for the quarter, missing the consensus estimate of ($3.42) by ($0.21). The firm had revenue of $216.80 million for the quarter, compared to the consensus estimate of $224.69 million. Scholastic had a net margin of 3.60% and a return on equity of 5.00%. Equities analysts anticipate that Scholastic will post 1.41 EPS for the current fiscal year.

Insider Activity

In other news, EVP Iole Lucchese sold 289,624 shares of the business’s stock in a transaction dated Wednesday, August 26th. The stock was sold at an average price of $39.76, for a total value of $11,515,450.24. Following the completion of the sale, the executive vice president owned 289,623 shares of the company’s stock, valued at approximately $11,515,410.48. The trade was a 50.00% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Andres A. Alonso sold 2,112 shares of the stock in a transaction dated Wednesday, August 26th. The shares were sold at an average price of $40.28, for a total value of $85,071.36. Following the sale, the director owned 21,189 shares of the company’s stock, valued at $853,492.92. This represents a 9.06% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 294,986 shares of company stock valued at $11,731,334. Insiders own 12.77% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in SCHL. Meeder Asset Management Inc. bought a new stake in Scholastic during the 2nd quarter valued at $43,000. Integrated Wealth Concepts LLC purchased a new stake in Scholastic during the 2nd quarter valued at $56,000. State of Wyoming purchased a new stake in Scholastic during the 2nd quarter valued at $115,000. Fifth Third Bancorp grew its holdings in Scholastic by 5,351.0% in the 1st quarter. Fifth Third Bancorp now owns 5,451 shares of the company’s stock worth $213,000 after acquiring an additional 5,351 shares during the last quarter. Finally, The Manufacturers Life Insurance Company bought a new stake in Scholastic in the 1st quarter worth $221,000. Institutional investors own 82.57% of the company’s stock.

About Scholastic

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

Its publishing portfolio includes picture books, middle-grade and young adult titles, classroom magazines, reference materials and educational technology. Scholastic is associated with well-known brands and series such as Harry Potter in the United States, Clifford the Big Red Dog, The Magic School Bus, Captain Underpants, Dog Man and Goosebumps.