Barnes & Noble Education Inc. (NYSE:BNED) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a research report issued to clients and investors on Tuesday.

According to Zacks, “Barnes & Noble Education, Inc. is engaged in creating and operating campus bookstores for academic institutions under multi-year management service agreements. The Company’s products and services include Textbook and Course Material Sales, Textbook and Course Material Rentals, General Merchandise, Trade, Digital Education Platform, e-commerce Platform, FacultyEnlight, Campus Connect Technologies platform and Flexible Course Fee Solution. It operates primarily in the United States. Barnes & Noble Education, Inc. is based in Basking Ridge, United States. “

Separately, BWS Financial began coverage on shares of Barnes & Noble Education in a report on Tuesday, October 11th. They set a “strong-buy” rating and a $14.00 price objective on the stock.

Barnes & Noble Education (NYSE:BNED) opened at 10.55 on Tuesday. The firm has a 50-day moving average of $9.52 and a 200-day moving average of $10.20. The company’s market capitalization is $486.06 million. Barnes & Noble Education has a 52 week low of $8.15 and a 52 week high of $15.49.

Barnes & Noble Education (NYSE:BNED) last posted its quarterly earnings data on Thursday, September 8th. The company reported ($0.60) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.58) by $0.02. The company had revenue of $239.20 million for the quarter, compared to analysts’ expectations of $245.58 million. Barnes & Noble Education had a negative net margin of 0.05% and a positive return on equity of 2.22%. The business’s revenue for the quarter was up .1% on a year-over-year basis. During the same period in the previous year, the business earned ($0.65) earnings per share. Analysts anticipate that Barnes & Noble Education will post $0.45 EPS for the current fiscal year.

Several institutional investors have recently bought and sold shares of BNED. BlackRock Fund Advisors increased its position in Barnes & Noble Education by 15.5% in the second quarter. BlackRock Fund Advisors now owns 2,654,588 shares of the company’s stock valued at $26,944,000 after buying an additional 355,727 shares in the last quarter. Vanguard Group Inc. increased its position in Barnes & Noble Education by 6.2% in the second quarter. Vanguard Group Inc. now owns 2,905,342 shares of the company’s stock valued at $29,490,000 after buying an additional 170,832 shares in the last quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp acquired a new position in Barnes & Noble Education during the second quarter valued at $1,015,000. Royce & Associates LP acquired a new position in Barnes & Noble Education during the second quarter valued at $1,015,000. Finally, Schwab Charles Investment Management Inc. increased its position in Barnes & Noble Education by 72.7% in the second quarter. Schwab Charles Investment Management Inc. now owns 194,107 shares of the company’s stock valued at $1,971,000 after buying an additional 81,730 shares in the last quarter. 67.23% of the stock is currently owned by hedge funds and other institutional investors.

About Barnes & Noble Education

Barnes & Noble Education, Inc is a contract operator of bookstores on college and university campuses across the United States and a provider of digital education services. The Company offers a support system, and a retail and digital learning experience for students. Through its subsidiary, Barnes & Noble College Booksellers, LLC, the Company operates approximately 750 campus bookstores and the school-branded e-commerce sites for each store, serving over five million college students and their faculty.

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