Scholastic (NASDAQ:SCHL) Stock Gets Downgrade from Wall Street Zen

Scholastic (NASDAQ:SCHL) was downgraded by equities research analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a report released on Saturday, Wall Street Zen reports.

SCHL has been the topic of a number of other reports. Weiss Ratings lowered shares of Scholastic from a “hold (c+)” rating to a “hold (c-)” rating in a report on Monday, September 28th. Zacks Research raised shares of Scholastic from a “strong sell” rating to a “hold” rating in a research report on Tuesday, September 22nd. Finally, B. Riley Financial dropped their price target on shares of Scholastic from $42.00 to $35.00 and set a “neutral” rating for the company in a research note on Monday, September 28th. Three analysts have rated the stock with a Hold rating. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $35.00.

Scholastic Stock Performance

NASDAQ SCHL opened at $38.60 on Friday. The company has a market cap of $728.00 million, a P/E ratio of 27.57, a P/E/G ratio of 2.11 and a beta of 1.08. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.25 and a quick ratio of 0.71. The stock has a 50-day moving average of $38.03 and a two-hundred day moving average of $40.56. Scholastic has a 1-year low of $26.38 and a 1-year high of $48.07.

Scholastic (NASDAQ:SCHL) last issued its quarterly earnings results on Thursday, September 24th. The company reported ($3.63) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($3.42) by ($0.21). The business had revenue of $216.80 million for the quarter, compared to analysts’ expectations of $224.69 million. Scholastic had a return on equity of 5.00% and a net margin of 3.60%. As a group, analysts anticipate that Scholastic will post 1.41 EPS for the current year.

Insider Transactions at Scholastic

In related news, Director Kaya Henderson sold 3,250 shares of the business’s stock in a transaction on Thursday, August 6th. The shares were sold at an average price of $40.25, for a total transaction of $130,812.50. Following the completion of the transaction, the director owned 7,113 shares in the company, valued at approximately $286,298.25. The trade was a 31.36% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Iole Lucchese sold 289,624 shares of the stock in a transaction on Wednesday, August 26th. The shares were sold at an average price of $39.76, for a total value of $11,515,450.24. Following the completion of the transaction, the executive vice president directly owned 289,623 shares in the company, valued at $11,515,410.48. This trade represents a 50.00% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders sold 294,986 shares of company stock valued at $11,731,334. Insiders own 12.77% of the company’s stock.

Institutional Trading of Scholastic

A number of institutional investors have recently bought and sold shares of the business. Meeder Asset Management Inc. purchased a new position in shares of Scholastic in the 2nd quarter valued at about $43,000. Integrated Wealth Concepts LLC acquired a new stake in shares of Scholastic during the 2nd quarter worth about $56,000. State of Wyoming purchased a new stake in Scholastic during the second quarter worth approximately $115,000. Fifth Third Bancorp lifted its stake in Scholastic by 5,351.0% during the first quarter. Fifth Third Bancorp now owns 5,451 shares of the company’s stock worth $213,000 after purchasing an additional 5,351 shares during the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS purchased a new stake in Scholastic during the first quarter worth approximately $221,000. 82.57% of the stock is owned by hedge funds and other institutional investors.

Scholastic Company Profile

Scholastic Corporation is a global children’s publishing, education and media company founded in 1920 by M. R. Robinson. Headquartered in New York City, the company develops and distributes books, digital resources and educational materials for children, families, teachers and schools.

Its publishing portfolio includes picture books, middle-grade and young adult titles, classroom magazines, reference materials and educational technology. Scholastic is associated with well-known brands and series such as Harry Potter in the United States, Clifford the Big Red Dog, The Magic School Bus, Captain Underpants, Dog Man and Goosebumps.