Stride (NYSE:LRN) Reaches New 1-Year High at $84.20

Stride, Inc. (NYSE:LRN)’s stock price hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $84.20 and last traded at $83.30, with a volume of 31600 shares traded. The stock had previously closed at $82.90.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on LRN shares. Barrington Research raised their target price on Stride from $85.00 to $90.00 and gave the company an “outperform” rating in a report on Thursday, August 8th. Canaccord Genuity Group initiated coverage on Stride in a report on Thursday, August 8th. They set a “buy” rating and a $94.00 price objective on the stock. BMO Capital Markets boosted their target price on Stride from $79.00 to $82.00 and gave the stock an “outperform” rating in a report on Thursday, August 8th. Canaccord Genuity Group began coverage on Stride in a report on Thursday, August 8th. They set a “buy” rating and a $94.00 price target on the stock. Finally, Citigroup lowered shares of Stride from a “buy” rating to a “neutral” rating and lifted their price target for the company from $77.00 to $90.00 in a research report on Tuesday, August 20th. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $85.83.

Stride Price Performance

The company has a current ratio of 5.10, a quick ratio of 4.95 and a debt-to-equity ratio of 0.38. The stock has a fifty day simple moving average of $77.54 and a 200-day simple moving average of $69.98. The stock has a market cap of $3.54 billion, a price-to-earnings ratio of 19.23, a price-to-earnings-growth ratio of 0.77 and a beta of 0.26.

Stride (NYSE:LRN) last posted its quarterly earnings data on Tuesday, August 6th. The company reported $1.42 earnings per share for the quarter, beating the consensus estimate of $1.27 by $0.15. Stride had a return on equity of 19.12% and a net margin of 10.01%. The company had revenue of $534.18 million during the quarter, compared to analysts’ expectations of $525.89 million. During the same period in the prior year, the business earned $1.01 earnings per share. Stride’s revenue for the quarter was up 10.5% compared to the same quarter last year. As a group, equities research analysts expect that Stride, Inc. will post 5.05 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Quadrant Capital Group LLC lifted its stake in shares of Stride by 76.7% in the fourth quarter. Quadrant Capital Group LLC now owns 1,113 shares of the company’s stock valued at $66,000 after buying an additional 483 shares during the period. Motco bought a new stake in shares of Stride in the 1st quarter worth approximately $74,000. EntryPoint Capital LLC acquired a new stake in shares of Stride during the 1st quarter worth approximately $77,000. nVerses Capital LLC bought a new stake in shares of Stride during the second quarter valued at approximately $78,000. Finally, GAMMA Investing LLC raised its stake in shares of Stride by 25.9% in the first quarter. GAMMA Investing LLC now owns 1,372 shares of the company’s stock valued at $87,000 after purchasing an additional 282 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, 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.