Stride (NYSE:LRN) PT Raised to $73.00 at BMO Capital Markets

Stride (NYSE:LRN) had its target price increased by stock analysts at BMO Capital Markets from $72.00 to $73.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The brokerage presently has an “outperform” rating on the stock. BMO Capital Markets’ price objective would indicate a potential upside of 8.83% from the stock’s previous close.

LRN has been the subject of a number of other reports. Wedbush reiterated an “outperform” rating on shares of Stride in a research note on Wednesday, January 24th. Citigroup boosted their price objective on shares of Stride from $70.00 to $75.00 and gave the stock a “buy” rating in a research note on Monday, January 29th. Barrington Research restated an “outperform” rating and issued a $75.00 price objective on shares of Stride in a research note on Wednesday. Morgan Stanley boosted their price objective on shares of Stride from $60.00 to $65.00 and gave the stock an “equal weight” rating in a research note on Wednesday, January 24th. Finally, StockNews.com upgraded shares of Stride from a “hold” rating to a “buy” rating in a research note on Tuesday, April 2nd. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $72.00.

Stride Price Performance

NYSE LRN opened at $67.08 on Thursday. The company has a quick ratio of 4.44, a current ratio of 4.29 and a debt-to-equity ratio of 0.40. The stock has a market capitalization of $2.90 billion, a PE ratio of 15.75, a price-to-earnings-growth ratio of 0.73 and a beta of 0.26. The company has a 50 day moving average price of $60.45 and a two-hundred day moving average price of $58.34. Stride has a 12-month low of $35.61 and a 12-month high of $69.70.

Stride (NYSE:LRN) last posted its earnings results on Tuesday, April 23rd. The company reported $1.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.47 by $0.13. The firm had revenue of $520.84 million during the quarter, compared to analysts’ expectations of $507.89 million. Stride had a net margin of 9.29% and a return on equity of 18.29%. The company’s revenue was up 10.7% compared to the same quarter last year. During the same period in the previous year, the company earned $1.30 earnings per share. As a group, equities analysts predict that Stride will post 4.55 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Stride

A number of institutional investors and hedge funds have recently bought and sold shares of LRN. SG Capital Management LLC increased its holdings in Stride by 348.7% in the 3rd quarter. SG Capital Management LLC now owns 563,218 shares of the company’s stock valued at $25,362,000 after buying an additional 437,685 shares during the period. Norges Bank acquired a new position in Stride during the 4th quarter worth about $25,594,000. Cooper Creek Partners Management LLC lifted its position in Stride by 89.1% during the 3rd quarter. Cooper Creek Partners Management LLC now owns 472,934 shares of the company’s stock worth $21,296,000 after buying an additional 222,866 shares in the last quarter. Russell Investments Group Ltd. lifted its position in Stride by 147.8% during the 4th quarter. Russell Investments Group Ltd. now owns 312,044 shares of the company’s stock worth $18,526,000 after buying an additional 186,099 shares in the last quarter. Finally, Wellington Management Group LLP lifted its position in Stride by 48.3% during the 3rd quarter. Wellington Management Group LLP now owns 325,831 shares of the company’s stock worth $14,672,000 after buying an additional 106,091 shares in the last quarter. Institutional investors own 98.24% of the company’s stock.

About Stride

Stride, Inc, a technology-based education service company, provides proprietary and third-party online curriculum, software systems, and educational services to facilitate individualized learning for students primarily in kindergarten through 12th grade (K-12) in the United States and internationally.