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

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

Separately, TheStreet upgraded Scholastic from a “c+” rating to a “b” rating in a research note on Thursday, December 14th.

Scholastic Stock Performance

Scholastic stock traded up $0.64 during trading on Friday, reaching $38.53. 411,576 shares of the company’s stock were exchanged, compared to its average volume of 289,029. The company’s 50-day moving average is $38.55 and its two-hundred day moving average is $38.45. Scholastic has a 52-week low of $30.50 and a 52-week high of $45.98. The firm has a market cap of $1.15 billion, a price-to-earnings ratio of 21.53 and a beta of 1.06.

Scholastic (NASDAQ:SCHL) last posted its quarterly earnings data on Thursday, March 21st. The company reported ($0.80) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.80). The company had revenue of $323.70 million for the quarter, compared to the consensus estimate of $329.21 million. Scholastic had a return on equity of 5.75% and a net margin of 3.60%. During the same period in the previous year, the business earned ($0.57) EPS. Analysts anticipate that Scholastic will post 2.01 EPS for the current year.

Institutional Trading of Scholastic

Several hedge funds have recently made changes to their positions in SCHL. Bank of Montreal Can raised its holdings in shares of Scholastic by 2.6% during the first quarter. Bank of Montreal Can now owns 14,576 shares of the company’s stock valued at $610,000 after buying an additional 363 shares during the last quarter. California State Teachers Retirement System increased its stake in shares of Scholastic by 1.0% during the third quarter. California State Teachers Retirement System now owns 37,129 shares of the company’s stock valued at $1,142,000 after acquiring an additional 374 shares during the period. New York State Common Retirement Fund increased its stake in shares of Scholastic by 1.1% during the first quarter. New York State Common Retirement Fund now owns 33,683 shares of the company’s stock valued at $1,153,000 after acquiring an additional 374 shares during the period. PNC Financial Services Group Inc. increased its stake in shares of Scholastic by 19.3% during the second quarter. PNC Financial Services Group Inc. now owns 2,741 shares of the company’s stock valued at $107,000 after acquiring an additional 444 shares during the period. Finally, Mercer Global Advisors Inc. ADV increased its stake in shares of Scholastic by 6.7% during the first quarter. Mercer Global Advisors Inc. ADV now owns 7,181 shares of the company’s stock valued at $246,000 after acquiring an additional 451 shares during the period. Institutional investors own 80.72% 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 books, eBooks, media, and interactive products through its school book clubs and fair channels, and trade channel.