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

Shares of Stride, Inc. (NYSE:LRN) hit a new 52-week high during mid-day trading on Wednesday after Barrington Research raised their price target on the stock from $150.00 to $170.00. Barrington Research currently has an outperform rating on the stock. Stride traded as high as $148.03 and last traded at $144.07, with a volume of 1472420 shares. The stock had previously closed at $142.59.

LRN has been the subject of several other reports. Canaccord Genuity Group upped their target price on Stride from $145.00 to $155.00 and gave the company a “buy” rating in a research note on Monday. BMO Capital Markets raised their price objective on Stride from $134.00 to $139.00 and gave the stock an “outperform” rating in a report on Tuesday, April 1st. Finally, William Blair restated an “outperform” rating on shares of Stride in a report on Wednesday. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, Stride presently has a consensus rating of “Moderate Buy” and a consensus price target of $126.83.

Institutional Trading of Stride

Several large investors have recently bought and sold shares of LRN. Tidal Investments LLC grew its position in Stride by 64.0% in the third quarter. Tidal Investments LLC now owns 8,642 shares of the company’s stock valued at $737,000 after acquiring an additional 3,374 shares in the last quarter. Franklin Resources Inc. grew its position in shares of Stride by 14.3% during the third quarter. Franklin Resources Inc. now owns 27,816 shares of the company’s stock worth $2,373,000 after buying an additional 3,477 shares in the last quarter. B. Riley Wealth Advisors Inc. acquired a new stake in shares of Stride during the third quarter worth approximately $430,000. GAMMA Investing LLC grew its position in shares of Stride by 19.7% during the fourth quarter. GAMMA Investing LLC now owns 2,468 shares of the company’s stock worth $256,000 after buying an additional 407 shares in the last quarter. Finally, Central Pacific Bank Trust Division grew its position in shares of Stride by 26.5% during the fourth quarter. Central Pacific Bank Trust Division now owns 2,723 shares of the company’s stock worth $283,000 after buying an additional 570 shares in the last quarter. Institutional investors and hedge funds own 98.24% of the company’s stock.

Stride Price Performance

The company has a debt-to-equity ratio of 0.35, a current ratio of 6.02 and a quick ratio of 5.93. The firm has a market cap of $6.56 billion, a price-to-earnings ratio of 25.15, a P/E/G ratio of 1.04 and a beta of 0.47. The business’s 50-day moving average price is $131.19 and its two-hundred day moving average price is $116.90.

Stride (NYSE:LRN) last released its quarterly earnings results on Tuesday, April 29th. The company reported $2.02 earnings per share for the quarter, missing analysts’ consensus estimates of $2.09 by ($0.07). Stride had a return on equity of 22.42% and a net margin of 12.30%. The company had revenue of $613.38 million for the quarter, compared to analyst estimates of $591.15 million. During the same period in the previous year, the business posted $1.60 EPS. The firm’s quarterly revenue was up 17.8% compared to the same quarter last year. On average, research analysts forecast that Stride, Inc. will post 6.67 EPS 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.