Scholastic (NASDAQ:SCHL) Stock Rating Upgraded by BidaskClub

Scholastic (NASDAQ:SCHL) was upgraded by equities researchers at BidaskClub from a “strong sell” rating to a “sell” rating in a research report issued to clients and investors on Wednesday, BidAskClub reports.

Other equities research analysts have also issued research reports about the stock. ValuEngine lowered shares of USD Partners from a “hold” rating to a “sell” rating in a research report on Friday, June 14th. Zacks Investment Research raised shares of HENKEL AG & CO/S from a “sell” rating to a “hold” rating in a report on Thursday, June 6th. Four equities research analysts have rated the stock with a sell rating and one has issued a hold rating to the stock. The company presently has a consensus rating of “Sell” and an average price target of $44.50.

Scholastic stock opened at $32.93 on Wednesday. Scholastic has a 52-week low of $31.38 and a 52-week high of $47.94. The stock has a fifty day simple moving average of $33.12. The firm has a market capitalization of $1.15 billion, a price-to-earnings ratio of 23.03 and a beta of 0.82.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. lifted its stake in Scholastic by 5.5% in the fourth quarter. BlackRock Inc. now owns 4,181,729 shares of the company’s stock valued at $168,356,000 after acquiring an additional 217,578 shares during the last quarter. Texas Permanent School Fund lifted its stake in Scholastic by 4.2% in the fourth quarter. Texas Permanent School Fund now owns 18,159 shares of the company’s stock valued at $731,000 after acquiring an additional 740 shares during the last quarter. Citigroup Inc. lifted its stake in Scholastic by 78.9% in the fourth quarter. Citigroup Inc. now owns 20,389 shares of the company’s stock valued at $821,000 after acquiring an additional 8,993 shares during the last quarter. Northern Trust Corp lifted its stake in Scholastic by 1.1% in the fourth quarter. Northern Trust Corp now owns 1,198,330 shares of the company’s stock valued at $48,245,000 after acquiring an additional 12,813 shares during the last quarter. Finally, Hsbc Holdings PLC lifted its stake in Scholastic by 5.1% in the fourth quarter. Hsbc Holdings PLC now owns 10,873 shares of the company’s stock valued at $437,000 after acquiring an additional 531 shares during the last quarter. 80.42% of the stock is owned by institutional investors and hedge funds.

Scholastic Company Profile

Scholastic Corporation publishes and distributes children's books worldwide. It operates in three segments: Children's Book Publishing and Distribution, Education, and International. The Children's Book Publishing and Distribution segment publishes and distributes children's books, e-books, media, and interactive products through its school book club and school book fair channels, as well as through its trade channel.

Read More: What does an equal weight rating mean?

Receive News & Ratings for Scholastic Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Scholastic and related companies with MarketBeat.com's FREE daily email newsletter.