Scholastic (NASDAQ:SCHL) Stock Price Expected to Rise, B. Riley Financial Analyst Says

Scholastic (NASDAQ:SCHL) had its price target increased by analysts at B. Riley Financial from $40.00 to $42.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage presently has a “neutral” rating on the stock. B. Riley Financial’s price objective indicates a potential downside of 7.20% from the company’s current price.

Several other equities research analysts have also recently issued reports on SCHL. Zacks Research cut shares of Scholastic from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 19th. Wall Street Zen lowered shares of Scholastic from a “buy” rating to a “hold” rating in a research report on Saturday, April 25th. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Scholastic in a research note on Thursday, June 18th. Three equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $42.00.

Scholastic Trading Down 2.0%

Shares of SCHL opened at $45.26 on Wednesday. The business’s 50 day moving average is $42.19 and its 200 day moving average is $37.43. Scholastic has a 12-month low of $20.60 and a 12-month high of $48.07. The company has a market capitalization of $983.95 million, a PE ratio of 18.25, a price-to-earnings-growth ratio of 1.44 and a beta of 0.99.

Scholastic declared that its board has authorized a stock repurchase plan on Friday, March 20th that permits the company to buyback $200.00 million in shares. This buyback authorization permits the company to buy up to 23% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board of directors believes its stock is undervalued.

Institutional Trading of Scholastic

Hedge funds have recently modified their holdings of the company. Vanguard Group Inc. boosted its position in shares of Scholastic by 3.8% during the 4th quarter. Vanguard Group Inc. now owns 1,593,981 shares of the company’s stock valued at $47,230,000 after acquiring an additional 59,017 shares during the last quarter. Alliancebernstein L.P. lifted its position in Scholastic by 879.3% during the third quarter. Alliancebernstein L.P. now owns 1,159,261 shares of the company’s stock valued at $31,741,000 after purchasing an additional 1,040,880 shares during the last quarter. J. Goldman & Co LP grew its stake in shares of Scholastic by 4.1% in the 4th quarter. J. Goldman & Co LP now owns 797,878 shares of the company’s stock worth $23,641,000 after buying an additional 31,427 shares in the last quarter. Bragg Financial Advisors Inc grew its stake in shares of Scholastic by 13.0% in the 4th quarter. Bragg Financial Advisors Inc now owns 668,904 shares of the company’s stock worth $19,820,000 after buying an additional 76,801 shares in the last quarter. Finally, Invesco Ltd. increased its holdings in shares of Scholastic by 57.2% in the 4th quarter. Invesco Ltd. now owns 424,973 shares of the company’s stock worth $12,592,000 after buying an additional 154,668 shares during the last quarter. 82.57% of the stock is owned by hedge funds and other institutional investors.

Scholastic Company Profile

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.