Scholastic (NASDAQ:SCHL) Rating Increased to Buy at StockNews.com

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

Scholastic Stock Performance

Shares of Scholastic stock traded up $1.86 on Friday, hitting $32.04. 450,776 shares of the company’s stock were exchanged, compared to its average volume of 205,687. Scholastic has a 1 year low of $28.47 and a 1 year high of $41.79. The company has a 50-day simple moving average of $30.89 and a 200-day simple moving average of $34.23. The stock has a market capitalization of $904.81 million, a PE ratio of 22.10 and a beta of 1.03.

Scholastic (NASDAQ:SCHL) last released its quarterly earnings results on Thursday, September 26th. The company reported ($2.13) earnings per share (EPS) for the quarter, beating the consensus estimate of ($2.48) by $0.35. Scholastic had a return on equity of 3.34% and a net margin of 0.76%. The business had revenue of $237.20 million during the quarter, compared to analyst estimates of $233.49 million. During the same quarter in the previous year, the company posted ($2.20) earnings per share. On average, analysts expect that Scholastic will post 1.52 EPS for the current fiscal year.

Insider Transactions at Scholastic

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

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in SCHL. Pacer Advisors Inc. grew its holdings in Scholastic by 18.1% during the 2nd quarter. Pacer Advisors Inc. now owns 1,120,491 shares of the company’s stock valued at $39,744,000 after buying an additional 171,775 shares in the last quarter. American Century Companies Inc. increased its position in Scholastic by 13.2% in 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. Bragg Financial Advisors Inc raised its stake in Scholastic by 0.7% during the fourth 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 in the last quarter. Jacobs Levy Equity Management Inc. lifted its position in Scholastic by 16.4% during 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 during the last quarter. Finally, Azarias Capital Management L.P. grew its stake in shares of Scholastic by 32.7% in the 2nd quarter. Azarias Capital Management L.P. now owns 264,565 shares of the company’s stock worth $9,384,000 after buying an additional 65,120 shares in the last quarter. Hedge funds and other institutional investors own 82.57% of the company’s stock.

About Scholastic

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.