Stride (NYSE:LRN) Price Target Raised to $130.00

Stride (NYSE:LRN) had its target price upped by Barrington Research from $100.00 to $130.00 in a research report released on Friday morning,Benzinga reports. Barrington Research currently has an outperform rating on the stock.

Other equities analysts have also issued reports about the company. Morgan Stanley upped their target price on Stride from $94.00 to $109.00 and gave the company an “equal weight” rating in a report on Thursday, December 12th. 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. BMO Capital Markets lifted their target price on Stride from $84.00 to $88.00 and gave the stock an “outperform” rating in a research note on Thursday, October 24th. Canaccord Genuity Group increased their price target on shares of Stride from $94.00 to $100.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Finally, StockNews.com lowered shares of Stride from a “buy” rating to a “hold” rating in a research report on Wednesday, October 23rd. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, Stride currently has an average rating of “Moderate Buy” and a consensus target price of $102.50.

Stride Trading Up 0.8 %

LRN opened at $113.90 on Friday. Stride has a fifty-two week low of $54.81 and a fifty-two week high of $115.42. The firm has a market capitalization of $4.96 billion, a PE ratio of 20.71, a P/E/G ratio of 0.84 and a beta of 0.32. 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’s 50-day moving average is $106.47 and its 200 day moving average is $88.80.

Stride (NYSE:LRN) last issued 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 return on equity of 21.23% and a net margin of 11.38%. The firm had revenue of $551.08 million during the quarter, compared to the consensus estimate of $504.29 million. During the same period in the prior year, the business posted $0.11 earnings per share. The company’s quarterly revenue was up 14.8% compared to the same quarter last year. As a group, research analysts predict that Stride will post 6.64 earnings per share for the current fiscal year.

Insider Buying and Selling at Stride

In other news, Director Todd Goldthwaite sold 8,028 shares of the firm’s stock in a transaction on Friday, October 25th. The stock was sold at an average price of $91.54, for a total value of $734,883.12. Following the completion of the transaction, the director now directly owns 85,058 shares of the company’s stock, valued at $7,786,209.32. This trade represents a 8.62 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 3.00% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the stock. Congress Asset Management Co. purchased a new position in shares of Stride during the 3rd quarter valued at $45,616,000. Victory Capital Management Inc. boosted its stake in Stride by 72.4% during the third quarter. Victory Capital Management Inc. now owns 827,505 shares of the company’s stock valued at $70,594,000 after buying an additional 347,564 shares during the period. Vaughan Nelson Investment Management L.P. grew its position in 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 buying an additional 314,435 shares in the last quarter. Loomis Sayles & Co. L P bought a new position in Stride in the 3rd quarter worth about $21,044,000. Finally, Wellington Management Group LLP raised its holdings in shares of Stride by 416.7% in the 3rd quarter. Wellington Management Group LLP now owns 275,483 shares of the company’s stock valued at $23,501,000 after acquiring an additional 222,165 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.