Stride (NYSE:LRN) Reaches New 1-Year High After Analyst Upgrade

Stride, Inc. (NYSE:LRN)’s stock price reached a new 52-week high during trading on Thursday after Barrington Research raised their price target on the stock from $90.00 to $100.00. Barrington Research currently has an outperform rating on the stock. Stride traded as high as $90.29 and last traded at $90.14, with a volume of 63092 shares. The stock had previously closed at $89.71.

LRN has been the subject of a number of other research reports. BMO Capital Markets lifted their price objective on shares of Stride from $79.00 to $82.00 and gave the company an “outperform” rating in a report on Thursday, August 8th. Citigroup cut shares of Stride from a “buy” rating to a “neutral” rating and boosted their target price for the stock from $77.00 to $90.00 in a research note on Tuesday, August 20th. StockNews.com raised shares of Stride from a “hold” rating to a “buy” rating in a research note on Friday, August 9th. Canaccord Genuity Group began coverage on shares of Stride in a research note on Thursday, August 8th. They set a “buy” rating and a $94.00 target price for the company. Finally, Canaccord Genuity Group boosted their target price on shares of Stride from $94.00 to $100.00 and gave the stock a “buy” rating in a research note on Wednesday. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, Stride currently has an average rating of “Moderate Buy” and an average target price of $88.50.

Hedge Funds Weigh In On Stride

Institutional investors and hedge funds have recently bought and sold shares of the company. Motco acquired a new position in shares of Stride in the 1st quarter worth approximately $74,000. EntryPoint Capital LLC acquired a new stake in Stride during the 1st quarter worth approximately $77,000. nVerses Capital LLC acquired a new stake in Stride during the 2nd quarter worth approximately $78,000. Mendota Financial Group LLC acquired a new stake in Stride during the 3rd quarter worth approximately $86,000. Finally, Advisors Asset Management Inc. lifted its holdings in Stride by 38.0% during the 1st quarter. Advisors Asset Management Inc. now owns 2,740 shares of the company’s stock worth $173,000 after buying an additional 754 shares in the last quarter. 98.24% of the stock is currently owned by institutional investors and hedge funds.

Stride Stock Performance

The stock’s 50-day simple moving average is $79.30 and its 200 day simple moving average is $72.66. The company has a debt-to-equity ratio of 0.38, a quick ratio of 4.95 and a current ratio of 5.10. The company has a market capitalization of $3.83 billion, a PE ratio of 21.06, a P/E/G ratio of 0.74 and a beta of 0.26.

Stride (NYSE:LRN) last announced its quarterly earnings data on Tuesday, October 22nd. The company reported $0.94 EPS for the quarter, beating analysts’ consensus estimates of $0.22 by $0.72. Stride had a net margin of 10.01% and a return on equity of 19.12%. The company had revenue of $551.08 million for the quarter, compared to the consensus estimate of $504.29 million. During the same period in the prior year, the firm posted $0.11 EPS. The company’s quarterly revenue was up 14.8% compared to the same quarter last year. As a group, research analysts expect that Stride, Inc. will post 5.05 earnings per share for the current fiscal year.

Stride Company Profile

Stride, Inc, a technology-based education service company, engages in the provision of proprietary and third-party online curriculum, software systems, and educational services in the United States and internationally. Its technology-based products and services enable clients to attract, enroll, educate, track progress, support, and facilitate individualized learning for students.