Stride (NYSE:LRN) Reaches New 12-Month High at $87.89

Stride, Inc. (NYSE:LRN)’s stock price hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $87.89 and last traded at $86.88, with a volume of 65139 shares trading hands. The stock had previously closed at $83.85.

Analysts Set New Price Targets

A number of research firms have commented on LRN. Barrington Research restated an “outperform” rating and set a $90.00 target price on shares of Stride in a research note on Friday, September 20th. Canaccord Genuity Group initiated coverage on shares of Stride in a research report on Thursday, August 8th. They set a “buy” rating and a $94.00 price objective on the stock. Citigroup downgraded shares of Stride from a “buy” rating to a “neutral” rating and upped their target price for the stock from $77.00 to $90.00 in a report on Tuesday, August 20th. BMO Capital Markets raised their price target on Stride from $79.00 to $82.00 and gave the company an “outperform” rating in a report on Thursday, August 8th. Finally, Canaccord Genuity Group assumed coverage on Stride in a research note on Thursday, August 8th. They set a “buy” rating and a $94.00 target price on the stock. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, Stride presently has a consensus rating of “Moderate Buy” and an average target price of $85.83.

Stride Stock Performance

The firm has a fifty day moving average price of $79.86 and a two-hundred day moving average price of $71.35. The stock has a market capitalization of $3.73 billion, a PE ratio of 19.68, a P/E/G ratio of 0.84 and a beta of 0.26. The company has a debt-to-equity ratio of 0.38, a current ratio of 5.10 and a quick ratio of 4.95.

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

Institutional Trading of Stride

Several hedge funds have recently modified their holdings of the company. Motco acquired a new stake in Stride in the 1st quarter worth approximately $74,000. EntryPoint Capital LLC acquired a new stake in shares of Stride during the first quarter worth $77,000. nVerses Capital LLC purchased a new stake in shares of Stride during the second quarter valued at $78,000. GAMMA Investing LLC grew its holdings in shares of Stride by 25.9% during the first quarter. GAMMA Investing LLC now owns 1,372 shares of the company’s stock valued at $87,000 after buying an additional 282 shares during the last quarter. Finally, Advisors Asset Management Inc. increased its position in shares of Stride by 38.0% in the 1st quarter. Advisors Asset Management Inc. now owns 2,740 shares of the company’s stock valued at $173,000 after acquiring an additional 754 shares during the period. 98.24% of the stock is owned by hedge funds and other institutional investors.

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.