Scholastic (NASDAQ:SCHL) Upgraded by StockNews.com to “Buy”

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

Scholastic Stock Performance

Shares of SCHL stock opened at $31.62 on Tuesday. The firm has a market cap of $904.33 million, a P/E ratio of 21.81 and a beta of 1.02. The firm’s 50 day moving average price is $32.88 and its 200-day moving average price is $35.48. Scholastic has a one year low of $28.47 and a one year high of $44.73.

Scholastic (NASDAQ:SCHL) last released its quarterly earnings results on Thursday, July 18th. The company reported $1.73 EPS for the quarter, missing analysts’ consensus estimates of $2.66 by ($0.93). The firm had revenue of $474.90 million for the quarter, compared to analyst estimates of $552.50 million. Scholastic had a return on equity of 3.34% and a net margin of 0.76%. As a group, research analysts predict that Scholastic will post 1.52 EPS for the current fiscal year.

Insider Buying and Selling

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

Institutional Trading of Scholastic

Several institutional investors have recently modified their holdings of SCHL. Pacer Advisors Inc. raised its stake in Scholastic by 18.1% during the 2nd quarter. Pacer Advisors Inc. now owns 1,120,491 shares of the company’s stock worth $39,744,000 after acquiring an additional 171,775 shares in the last quarter. American Century Companies Inc. grew its holdings in shares of Scholastic by 13.2% during the second quarter. American Century Companies Inc. now owns 488,259 shares of the company’s stock worth $17,319,000 after purchasing an additional 56,835 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Scholastic by 5.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 430,679 shares of the company’s stock worth $16,237,000 after purchasing an additional 20,961 shares in the last quarter. Bragg Financial Advisors Inc lifted its holdings in shares of Scholastic by 0.7% in the 4th quarter. Bragg Financial Advisors Inc now owns 372,999 shares of the company’s stock valued at $14,062,000 after purchasing an additional 2,468 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. boosted its position in shares of Scholastic by 16.4% in the 1st 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 during the period. Hedge funds and other institutional investors own 82.57% of the company’s stock.

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.