Stride (NYSE:LRN) Reaches New 12-Month High at $86.28

Shares of Stride, Inc. (NYSE:LRN) hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $86.28 and last traded at $85.19, with a volume of 46302 shares trading hands. The stock had previously closed at $84.67.

Analyst Ratings Changes

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

Stride Stock Down 0.4 %

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 company has a market capitalization of $3.65 billion, a P/E ratio of 19.74, a PEG ratio of 0.84 and a beta of 0.26. The firm’s 50 day moving average price is $79.03 and its two-hundred day moving average price is $70.80.

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

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in LRN. Nordea Investment Management AB grew its stake in shares of Stride by 48.9% in the first quarter. Nordea Investment Management AB now owns 105,630 shares of the company’s stock valued at $6,698,000 after buying an additional 34,682 shares in the last quarter. Norges Bank bought a new position in shares of Stride in the 4th quarter valued at about $25,594,000. UniSuper Management Pty Ltd acquired a new position in shares of Stride during the 1st quarter worth about $555,000. Blue Trust Inc. raised its holdings in shares of Stride by 795.5% in the 2nd quarter. Blue Trust Inc. now owns 11,543 shares of the company’s stock valued at $814,000 after purchasing an additional 10,254 shares during the period. Finally, DekaBank Deutsche Girozentrale bought a new stake in shares of Stride in the 1st quarter valued at about $5,402,000. Institutional investors and hedge funds own 98.24% of the company’s stock.

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.