Stride (NYSE:LRN) Reaches New 52-Week High Following Analyst Upgrade

Stride, Inc. (NYSE:LRN) hit a new 52-week high on Tuesday after Canaccord Genuity Group raised their price target on the stock from $100.00 to $130.00. Canaccord Genuity Group currently has a buy rating on the stock. Stride traded as high as $120.86 and last traded at $118.96, with a volume of 960216 shares. The stock had previously closed at $119.38.

Several other analysts have also recently issued reports on LRN. StockNews.com cut Stride from a “buy” rating to a “hold” rating in a research report on Wednesday, October 23rd. BMO Capital Markets increased their target price on Stride from $84.00 to $88.00 and gave the company an “outperform” rating in a research report on Thursday, October 24th. Morgan Stanley raised their price objective on Stride from $94.00 to $109.00 and gave the stock an “equal weight” rating in a research report on Thursday, December 12th. Barrington Research raised their price objective on Stride from $100.00 to $130.00 and gave the stock an “outperform” rating in a research report on Friday, January 17th. Finally, Citigroup raised their price objective on Stride from $90.00 to $94.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 29th. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, Stride presently has a consensus rating of “Moderate Buy” and an average target price of $107.50.

Institutional Trading of Stride

A number of institutional investors and hedge funds have recently added to or reduced their stakes in LRN. Janus Henderson Group PLC grew its stake in shares of Stride by 1.1% during the third quarter. Janus Henderson Group PLC now owns 1,170,434 shares of the company’s stock worth $99,851,000 after purchasing an additional 13,050 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Stride by 3.8% during the third quarter. Geode Capital Management LLC now owns 964,701 shares of the company’s stock worth $82,315,000 after purchasing an additional 35,349 shares in the last quarter. Vaughan Nelson Investment Management L.P. grew its stake in shares of Stride by 51.1% during the third quarter. Vaughan Nelson Investment Management L.P. now owns 929,855 shares of the company’s stock worth $79,326,000 after purchasing an additional 314,435 shares in the last quarter. Victory Capital Management Inc. grew its stake in shares of Stride by 72.4% during the third quarter. Victory Capital Management Inc. now owns 827,505 shares of the company’s stock worth $70,594,000 after purchasing an additional 347,564 shares in the last quarter. Finally, Rockefeller Capital Management L.P. grew its stake in shares of Stride by 0.7% during the third quarter. Rockefeller Capital Management L.P. now owns 753,728 shares of the company’s stock worth $64,286,000 after purchasing an additional 5,278 shares in the last quarter. Hedge funds and other institutional investors own 98.24% of the company’s stock.

Stride Stock Down 0.4 %

The company has a debt-to-equity ratio of 0.38, a current ratio of 5.60 and a quick ratio of 5.50. The company has a market cap of $5.19 billion, a price-to-earnings ratio of 21.63, a P/E/G ratio of 0.88 and a beta of 0.32. The firm’s 50 day simple moving average is $108.45 and its 200-day simple moving average is $90.92.

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.