Scholastic (NASDAQ:SCHL) Sets New 1-Year High – Still a Buy?

Scholastic Corporation (NASDAQ:SCHL) shares hit a new 52-week high on Friday . The stock traded as high as $45.29 and last traded at $45.1170, with a volume of 22054 shares. The stock had previously closed at $43.93.

Analyst Ratings Changes

Several equities analysts have commented on the stock. Zacks Research cut shares of Scholastic from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 19th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Scholastic in a research report on Thursday, June 18th. B. Riley Financial lifted their target price on Scholastic from $37.00 to $40.00 and gave the company a “neutral” rating in a report on Friday, March 20th. Finally, Wall Street Zen cut Scholastic from a “buy” rating to a “hold” rating in a research note on Saturday, April 25th. Three equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, Scholastic has a consensus rating of “Hold” and a consensus price target of $40.00.

Scholastic Price Performance

The company has a market cap of $977.63 million, a price-to-earnings ratio of 18.13 and a beta of 1.02. The firm’s 50 day simple moving average is $41.16 and its 200-day simple moving average is $36.44.

Scholastic announced that its Board of Directors has authorized a share buyback plan on Friday, March 20th that permits the company to repurchase $200.00 million in shares. This repurchase authorization permits the company to buy up to 23% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s management believes its shares are undervalued.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Scholastic by 4.8% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 13,851 shares of the company’s stock valued at $262,000 after buying an additional 630 shares during the last quarter. Quantinno Capital Management LP grew its holdings in shares of Scholastic by 3.2% during the first quarter. Quantinno Capital Management LP now owns 23,186 shares of the company’s stock worth $906,000 after buying an additional 729 shares during the last quarter. GAMMA Investing LLC increased its position in Scholastic by 29.5% in the 4th quarter. GAMMA Investing LLC now owns 3,289 shares of the company’s stock valued at $97,000 after acquiring an additional 749 shares during the period. Deutsche Bank AG increased its position in Scholastic by 4.1% in the 4th quarter. Deutsche Bank AG now owns 20,829 shares of the company’s stock valued at $617,000 after acquiring an additional 824 shares during the period. Finally, SG Americas Securities LLC raised its stake in Scholastic by 8.3% during the 4th quarter. SG Americas Securities LLC now owns 15,690 shares of the company’s stock valued at $465,000 after acquiring an additional 1,201 shares during the last quarter. 82.57% of the stock is currently owned by institutional investors and hedge funds.

About Scholastic

Scholastic Corporation (NASDAQ: SCHL) is a global company dedicated to children’s publishing, education technology and distribution services. The company’s core business encompasses three primary segments: Children’s Book Publishing and Distribution, Education Technology, and International operations. Through its publishing arm, Scholastic produces and distributes a wide range of children’s books, novels, nonfiction titles and classroom magazines under well-known imprints such as Scholastic Press, Graphix and Chicken House.