Scholastic (NASDAQ:SCHL) Lifted to “Buy” at StockNews.com

Scholastic (NASDAQ:SCHL) was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating in a research report issued on Tuesday.

Scholastic Trading Up 0.2 %

NASDAQ:SCHL opened at $31.62 on Tuesday. Scholastic has a 12 month low of $28.47 and a 12 month high of $44.73. The stock has a market capitalization of $904.33 million, a price-to-earnings ratio of 21.81 and a beta of 1.02. The firm has a fifty day simple moving average of $32.88 and a two-hundred day simple moving average of $35.48.

Scholastic (NASDAQ:SCHL) last posted its earnings results on Thursday, July 18th. The company reported $1.73 EPS for the quarter, missing the consensus estimate of $2.66 by ($0.93). Scholastic had a return on equity of 3.34% and a net margin of 0.76%. The business had revenue of $474.90 million for the quarter, compared to the consensus estimate of $552.50 million. Equities analysts predict that Scholastic will post 1.52 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Scholastic news, EVP Iole Lucchese bought 1,654 shares of Scholastic stock in a transaction dated Tuesday, July 23rd. The stock was bought at an average cost of $30.49 per share, with a total value of $50,430.46. Following the completion of the acquisition, the executive vice president now directly owns 74,264 shares in the company, valued at approximately $2,264,309.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, CEO Warwick Peter bought 1,674 shares of the company’s stock in a transaction on Tuesday, July 23rd. The shares were purchased at an average cost of $30.46 per share, for a total transaction of $50,990.04. Following the completion of the purchase, the chief executive officer now directly owns 104,349 shares in the company, valued at $3,178,470.54. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Iole Lucchese bought 1,654 shares of the firm’s stock in a transaction on Tuesday, July 23rd. The stock was purchased at an average cost of $30.49 per share, with a total value of $50,430.46. Following the completion of the transaction, the executive vice president now directly owns 74,264 shares of the company’s stock, valued at $2,264,309.36. The disclosure for this purchase can be found here. Insiders own 18.62% of the company’s stock.

Institutional Trading of Scholastic

Several institutional investors and hedge funds have recently bought and sold shares of SCHL. Dynamic Technology Lab Private Ltd bought a new position in Scholastic in the 4th quarter worth about $1,823,000. Jacobs Levy Equity Management Inc. raised its stake in Scholastic by 16.4% in the first quarter. Jacobs Levy Equity Management Inc. now owns 306,017 shares of the company’s stock valued at $11,540,000 after purchasing an additional 43,199 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Scholastic by 5.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 430,679 shares of the company’s stock worth $16,237,000 after acquiring an additional 20,961 shares during the last quarter. Allianz Asset Management GmbH boosted its stake in Scholastic by 55.6% in the fourth quarter. Allianz Asset Management GmbH now owns 64,154 shares of the company’s stock worth $2,419,000 after buying an additional 22,933 shares in the last quarter. Finally, National Bank of Canada FI purchased a new stake in shares of Scholastic in the 4th quarter valued at $1,013,000. 82.57% of the stock is currently owned by hedge funds and other institutional investors.

Scholastic Company Profile

Scholastic Corporation publishes and distributes children’s books worldwide. It operates in three segments: Children’s Book Publishing and Distribution, Education Solutions, and International. The Children’s Book Publishing and Distribution segment engages in publication and distribution of children’s print, digital, and audio books, as well as media and interactive products through its school reading events and trade channel; and operation of school-based book clubs and book fairs in the United States.