Scholastic (NASDAQ:SCHL) Given New $42.00 Price Target at B. Riley Financial

Scholastic (NASDAQ:SCHL) had its price objective raised by investment analysts at B. Riley Financial from $40.00 to $42.00 in a report released on Wednesday,Benzinga reports. The firm currently has a “neutral” rating on the stock. B. Riley Financial’s price target suggests a potential downside of 7.20% from the company’s current price.

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

Scholastic Price Performance

NASDAQ SCHL opened at $45.26 on Wednesday. The stock has a market capitalization of $983.95 million, a price-to-earnings ratio of 18.25, a PEG ratio of 1.44 and a beta of 0.99. Scholastic has a 1-year low of $20.60 and a 1-year high of $48.07. The business’s fifty day moving average price is $42.19 and its 200-day moving average price is $37.43.

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

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in SCHL. Tower Research Capital LLC TRC increased its holdings in Scholastic by 458.1% in the 2nd quarter. Tower Research Capital LLC TRC now owns 3,159 shares of the company’s stock worth $66,000 after acquiring an additional 2,593 shares in the last quarter. GAMMA Investing LLC lifted its holdings in Scholastic by 29.5% during the fourth quarter. GAMMA Investing LLC now owns 3,289 shares of the company’s stock valued at $97,000 after purchasing an additional 749 shares in the last quarter. Marquette Asset Management LLC bought a new position in shares of Scholastic in the fourth quarter worth approximately $116,000. BNP Paribas Financial Markets boosted its position in shares of Scholastic by 127.4% in the third quarter. BNP Paribas Financial Markets now owns 5,197 shares of the company’s stock worth $142,000 after purchasing an additional 2,912 shares during the period. Finally, Fifth Third Bancorp increased its stake in shares of Scholastic by 5,351.0% in the first quarter. Fifth Third Bancorp now owns 5,451 shares of the company’s stock worth $213,000 after purchasing an additional 5,351 shares in the last quarter. Institutional investors own 82.57% of the company’s stock.

About Scholastic

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.