Stride (NYSE:LRN) Sets New 12-Month High – Time to Buy?

Stride, Inc. (NYSE:LRN) hit a new 52-week high on Wednesday . The company traded as high as $117.64 and last traded at $116.68, with a volume of 892479 shares. The stock had previously closed at $114.16.

Analyst Ratings Changes

Several research firms have recently issued reports on LRN. Barrington Research upped their target price on Stride from $100.00 to $130.00 and gave the company an “outperform” rating in a report on Friday, January 17th. Citigroup raised their target price on Stride from $90.00 to $94.00 and gave the company a “neutral” rating in a research report on Tuesday, October 29th. StockNews.com downgraded shares of Stride from a “buy” rating to a “hold” rating in a report on Wednesday, October 23rd. Canaccord Genuity Group raised their price objective on shares of Stride from $94.00 to $100.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Finally, BMO Capital Markets lifted their price objective on shares of Stride from $84.00 to $88.00 and gave the stock an “outperform” rating in a research report on Thursday, October 24th. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $102.50.

Stride Price Performance

The company has a quick ratio of 5.50, a current ratio of 5.60 and a debt-to-equity ratio of 0.38. The stock has a market cap of $5.20 billion, a P/E ratio of 21.71, a price-to-earnings-growth ratio of 0.88 and a beta of 0.32. The business’s 50-day simple moving average is $107.72 and its two-hundred day simple moving average is $89.86.

Stride (NYSE:LRN) last released its quarterly earnings data on Tuesday, October 22nd. The company reported $0.94 EPS for the quarter, topping the consensus estimate of $0.22 by $0.72. Stride had a net margin of 11.38% and a return on equity of 21.23%. The company had revenue of $551.08 million during the quarter, compared to the consensus estimate of $504.29 million. During the same period last year, the firm earned $0.11 EPS. Stride’s revenue for the quarter was up 14.8% on a year-over-year basis. Sell-side analysts expect that Stride, Inc. will post 6.64 EPS for the current year.

Institutional Investors Weigh In On Stride

Several institutional investors have recently made changes to their positions in LRN. Sanctuary Advisors LLC purchased a new stake in Stride during the 2nd quarter worth about $534,000. B. Riley Wealth Advisors Inc. purchased a new stake in shares of Stride in the third quarter worth about $430,000. International Assets Investment Management LLC boosted its position in shares of Stride by 8,431.7% in the third quarter. International Assets Investment Management LLC now owns 5,119 shares of the company’s stock valued at $437,000 after acquiring an additional 5,059 shares during the period. Quest Partners LLC boosted its position in shares of Stride by 20,248.8% in the third quarter. Quest Partners LLC now owns 8,343 shares of the company’s stock valued at $712,000 after acquiring an additional 8,302 shares during the period. Finally, Livforsakringsbolaget Skandia Omsesidigt grew its stake in Stride by 24.6% during the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 36,000 shares of the company’s stock valued at $3,071,000 after acquiring an additional 7,100 shares in the last quarter. Hedge funds and other institutional investors own 98.24% of the company’s stock.

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.