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

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

Scholastic Price Performance

Scholastic stock traded up $1.86 during trading hours on Friday, reaching $32.04. The company had a trading volume of 450,776 shares, compared to its average volume of 205,687. The company has a 50-day moving average price of $30.89 and a 200 day moving average price of $34.23. Scholastic has a 12-month low of $28.47 and a 12-month high of $41.79. The firm has a market cap of $904.81 million, a price-to-earnings ratio of 22.10 and a beta of 1.03.

Scholastic (NASDAQ:SCHL) last released its quarterly earnings data on Thursday, September 26th. The company reported ($2.13) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($2.48) by $0.35. The firm had revenue of $237.20 million for the quarter, compared to analysts’ expectations of $233.49 million. Scholastic had a net margin of 0.76% and a return on equity of 3.34%. During the same quarter in the previous year, the company earned ($2.20) earnings per share. As a group, research analysts expect that Scholastic will post 1.52 earnings per share for the current year.

Insider Activity at Scholastic

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in SCHL. nVerses Capital LLC bought a new position in shares of Scholastic in the second quarter worth approximately $35,000. Innealta Capital LLC purchased a new position in shares of Scholastic during the second quarter valued at approximately $64,000. EntryPoint Capital LLC bought a new position in Scholastic during the first quarter valued at approximately $129,000. Quent Capital LLC purchased a new stake in Scholastic in the first quarter worth approximately $215,000. Finally, Allspring Global Investments Holdings LLC grew its position in Scholastic by 13.7% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 5,776 shares of the company’s stock worth $218,000 after purchasing an additional 697 shares during the period. 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.