Scholastic (NASDAQ:SCHL) had its target price lifted by equities research analysts at Stifel Nicolaus from $38.00 to $41.00 in a note issued to investors on Wednesday. The brokerage currently has a “hold” rating on the stock. Stifel Nicolaus’ target price indicates a potential downside of 1.70% from the company’s previous close.
A number of other research analysts also recently weighed in on the stock. Zacks Investment Research downgraded shares of Scholastic from a “hold” rating to a “sell” rating in a research report on Wednesday, September 20th. BidaskClub upgraded shares of Scholastic from a “hold” rating to a “buy” rating in a research report on Wednesday, December 6th.
Shares of Scholastic (NASDAQ SCHL) opened at $41.71 on Wednesday. Scholastic has a fifty-two week low of $33.51 and a fifty-two week high of $49.38. The company has a market cap of $1,460.43, a P/E ratio of 32.84 and a beta of 0.78.
In related news, insider Alan J. Boyko sold 2,673 shares of the stock in a transaction that occurred on Monday, December 4th. The shares were sold at an average price of $42.05, for a total transaction of $112,399.65. Following the transaction, the insider now owns 39,548 shares in the company, valued at $1,662,993.40. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Alan J. Boyko sold 7,327 shares of the stock in a transaction that occurred on Wednesday, December 6th. The shares were sold at an average price of $42.00, for a total transaction of $307,734.00. Following the transaction, the insider now owns 43,557 shares in the company, valued at approximately $1,829,394. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 23,100 shares of company stock worth $954,483. 22.30% of the stock is owned by insiders.
Institutional investors have recently modified their holdings of the stock. Bank of Montreal Can raised its position in Scholastic by 0.9% in the second quarter. Bank of Montreal Can now owns 6,628 shares of the company’s stock worth $289,000 after acquiring an additional 57 shares during the period. Wells Fargo & Company MN raised its position in Scholastic by 0.3% in the second quarter. Wells Fargo & Company MN now owns 19,450 shares of the company’s stock worth $848,000 after acquiring an additional 66 shares during the period. State of Alaska Department of Revenue raised its position in Scholastic by 2.4% in the first quarter. State of Alaska Department of Revenue now owns 2,970 shares of the company’s stock worth $126,000 after acquiring an additional 70 shares during the period. Clinton Group Inc. raised its position in Scholastic by 0.5% in the first quarter. Clinton Group Inc. now owns 17,139 shares of the company’s stock worth $730,000 after acquiring an additional 78 shares during the period. Finally, 1st Global Advisors Inc. raised its position in Scholastic by 1.5% in the first quarter. 1st Global Advisors Inc. now owns 5,419 shares of the company’s stock worth $231,000 after acquiring an additional 80 shares during the period. Institutional investors own 79.51% of the company’s stock.
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.
