Scholastic (NASDAQ:SCHL) Stock Rating Upgraded by StockNews.com

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

Scholastic Price Performance

Shares of NASDAQ:SCHL opened at $32.04 on Friday. Scholastic has a 1 year low of $28.47 and a 1 year high of $41.79. The company has a market cap of $904.81 million, a PE ratio of 22.10 and a beta of 1.03. The stock’s 50-day moving average is $30.89 and its 200 day moving average is $34.20.

Scholastic (NASDAQ:SCHL) last posted its quarterly earnings data on Thursday, September 26th. The company reported ($2.13) earnings per share 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 for the quarter, compared to analysts’ expectations of $233.49 million. During the same period in the previous year, the firm posted ($2.20) EPS. Analysts expect that Scholastic will post 1.52 EPS for the current fiscal year.

Insider Transactions at Scholastic

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

Hedge Funds Weigh In On Scholastic

Several institutional investors and hedge funds have recently bought and sold shares of the company. Algert Global LLC grew its holdings in shares of Scholastic by 16.7% during the second quarter. Algert Global LLC now owns 28,263 shares of the company’s stock valued at $1,002,000 after buying an additional 4,040 shares during the last quarter. Mackenzie Financial Corp acquired a new position in Scholastic during the second quarter valued at $363,000. Millennium Management LLC raised its position in shares of Scholastic by 45.0% in the second quarter. Millennium Management LLC now owns 182,630 shares of the company’s stock worth $6,478,000 after acquiring an additional 56,647 shares during the period. AQR Capital Management LLC raised its position in shares of Scholastic by 62.6% in the second quarter. AQR Capital Management LLC now owns 67,417 shares of the company’s stock worth $2,391,000 after acquiring an additional 25,958 shares during the period. Finally, Caxton Associates LP raised its position in shares of Scholastic by 37.1% in the second quarter. Caxton Associates LP now owns 32,889 shares of the company’s stock worth $1,167,000 after acquiring an additional 8,903 shares during the period. 82.57% of the stock is 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.