Stifel Nicolaus Increases Scholastic (SCHL) Price Target to $41.00

Scholastic (NASDAQ:SCHL) had its price target boosted by investment analysts at Stifel Nicolaus from $38.00 to $41.00 in a research report issued on Wednesday. The firm presently has a “hold” rating on the stock. Stifel Nicolaus’ target price would suggest a potential upside of 1.61% from the company’s current price.

A number of other brokerages also recently weighed in on SCHL. BidaskClub downgraded Scholastic from a “buy” rating to a “hold” rating in a research report on Tuesday. Zacks Investment Research downgraded Scholastic from a “hold” rating to a “sell” rating in a research report on Wednesday, September 20th.

Shares of Scholastic (NASDAQ SCHL) traded down $1.89 during mid-day trading on Wednesday, reaching $40.35. The company had a trading volume of 257,200 shares, compared to its average volume of 128,566. Scholastic has a 12 month low of $33.51 and a 12 month high of $49.38. The company has a market capitalization of $1,478.99, a P/E ratio of 33.26 and a beta of 0.78.

Scholastic (NASDAQ:SCHL) last issued its quarterly earnings data on Thursday, December 14th. The company reported $1.92 earnings per share for the quarter, beating analysts’ consensus estimates of $1.75 by $0.17. Scholastic had a return on equity of 3.57% and a net margin of 1.71%. The company had revenue of $598.30 million for the quarter, compared to the consensus estimate of $601.40 million. During the same quarter last year, the company earned $1.92 earnings per share. The firm’s revenue for the quarter was down 4.0% compared to the same quarter last year. equities analysts anticipate that Scholastic will post 1.19 EPS for the current fiscal year.

In other Scholastic news, insider Alan J. Boyko sold 2,673 shares of the stock in a transaction dated Monday, December 4th. The stock was sold at an average price of $42.05, for a total value of $112,399.65. Following the completion of the sale, the insider now directly owns 39,548 shares in the company, valued at $1,662,993.40. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Alan J. Boyko sold 7,327 shares of the stock in a transaction dated Wednesday, December 6th. The shares were sold at an average price of $42.00, for a total value of $307,734.00. Following the completion of the sale, the insider now owns 43,557 shares of the company’s stock, valued at $1,829,394. The disclosure for this sale can be found here. Over the last quarter, insiders sold 23,100 shares of company stock valued at $954,483. 22.30% of the stock is currently owned by company insiders.

Institutional investors have recently added to or reduced their stakes in the business. Federated Investors Inc. PA purchased a new position in shares of Scholastic in the second quarter worth about $111,000. Quantbot Technologies LP purchased a new position in Scholastic during the third quarter valued at approximately $141,000. Public Employees Retirement System of Ohio raised its position in Scholastic by 5.3% during the second quarter. Public Employees Retirement System of Ohio now owns 3,818 shares of the company’s stock valued at $166,000 after acquiring an additional 193 shares in the last quarter. Bessemer Group Inc. raised its position in Scholastic by 11.5% during the second quarter. Bessemer Group Inc. now owns 4,495 shares of the company’s stock valued at $196,000 after acquiring an additional 462 shares in the last quarter. Finally, Cubist Systematic Strategies LLC purchased a new position in Scholastic during the second quarter valued at approximately $211,000. Institutional investors own 79.51% of the company’s stock.

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About Scholastic

Scholastic Corporation is a publisher and distributor of children’s books, a provider of print and digital instructional materials for pre-kindergarten (pre-K) to grade 12, and a producer of educational and entertaining children’s media. The Company operates through three segments: Children’s Book Publishing and Distribution, Education and International.

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