Stride, Inc. (NYSE:LRN) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Shares of Stride, Inc. (NYSE:LRN) have earned an average rating of “Moderate Buy” from the seven ratings firms that are presently covering the company, MarketBeat reports. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $90.17.

LRN has been the subject of a number of analyst reports. Barrington Research lifted their price objective on Stride from $90.00 to $100.00 and gave the company an “outperform” rating in a report on Wednesday, October 23rd. Citigroup lifted their target price on shares of Stride from $90.00 to $94.00 and gave the company a “neutral” rating in a research note on Tuesday, October 29th. Canaccord Genuity Group increased their price target on Stride from $94.00 to $100.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. BMO Capital Markets lifted their price objective on Stride from $84.00 to $88.00 and gave the company an “outperform” rating in a research report on Thursday, October 24th. Finally, Canaccord Genuity Group started coverage on Stride in a report on Thursday, August 8th. They set a “buy” rating and a $94.00 target price on the stock.

Stride Price Performance

NYSE:LRN opened at $103.95 on Friday. The company has a market capitalization of $4.53 billion, a price-to-earnings ratio of 18.90, a PEG ratio of 0.78 and a beta of 0.27. The company has a 50-day moving average of $86.75 and a 200-day moving average of $77.99. Stride has a 52 week low of $54.81 and a 52 week high of $104.68. The company has a debt-to-equity ratio of 0.38, a quick ratio of 5.50 and a current ratio of 5.60.

Stride (NYSE:LRN) last released its quarterly earnings data on Tuesday, October 22nd. The company reported $0.94 earnings per share for the quarter, beating analysts’ consensus estimates of $0.22 by $0.72. Stride had a return on equity of 21.23% and a net margin of 11.38%. 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 previous year, the business earned $0.11 earnings per share. The company’s quarterly revenue was up 14.8% on a year-over-year basis. As a group, equities research analysts anticipate that Stride will post 6.66 earnings per share for the current fiscal year.

Insider Transactions at Stride

In related news, Director Todd Goldthwaite sold 8,028 shares of the firm’s stock in a transaction dated Friday, October 25th. The stock was sold at an average price of $91.54, for a total value of $734,883.12. Following the transaction, the director now owns 85,058 shares in the company, valued at $7,786,209.32. This trade represents a 8.62 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 3.00% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. State Board of Administration of Florida Retirement System raised its stake in shares of Stride by 15.7% during the first quarter. State Board of Administration of Florida Retirement System now owns 14,014 shares of the company’s stock worth $884,000 after buying an additional 1,900 shares during the last quarter. O Shaughnessy Asset Management LLC boosted its position in shares of Stride by 12.9% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 4,202 shares of the company’s stock worth $265,000 after purchasing an additional 481 shares during the last quarter. CANADA LIFE ASSURANCE Co increased its holdings in Stride by 5.2% in the first quarter. CANADA LIFE ASSURANCE Co now owns 57,725 shares of the company’s stock valued at $3,639,000 after purchasing an additional 2,847 shares during the last quarter. EntryPoint Capital LLC acquired a new position in Stride in the first quarter valued at about $77,000. Finally, Advisors Asset Management Inc. boosted its holdings in Stride by 38.0% during the first quarter. Advisors Asset Management Inc. now owns 2,740 shares of the company’s stock worth $173,000 after buying an additional 754 shares during the last quarter. 98.24% of the stock is currently owned by institutional investors and hedge funds.

About Stride

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.