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

Shares of Stride, Inc. (NYSE:LRN) hit a new 52-week high on Wednesday . The stock traded as high as $87.89 and last traded at $86.88, with a volume of 65139 shares traded. The stock had previously closed at $83.85.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on LRN shares. BMO Capital Markets increased their target price on Stride from $79.00 to $82.00 and gave the company an “outperform” rating in a research report on Thursday, August 8th. StockNews.com raised shares of Stride from a “hold” rating to a “buy” rating in a research note on Friday, August 9th. Barrington Research reissued an “outperform” rating and set a $90.00 target price on shares of Stride in a report on Friday, September 20th. Citigroup lowered Stride from a “buy” rating to a “neutral” rating and lifted their price target for the stock from $77.00 to $90.00 in a research note on Tuesday, August 20th. Finally, Canaccord Genuity Group initiated coverage on Stride in a research note on Thursday, August 8th. They issued a “buy” rating and a $94.00 price objective for the company. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $85.83.

Stride Trading Up 3.0 %

The company has a market capitalization of $3.73 billion, a PE ratio of 19.68, a PEG ratio of 0.84 and a beta of 0.26. The company has a fifty day simple moving average of $79.86 and a 200-day simple moving average of $71.35. The company has a current ratio of 5.10, a quick ratio of 4.95 and a debt-to-equity ratio of 0.38.

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

Institutional Investors Weigh In On Stride

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. William Blair Investment Management LLC purchased a new position in shares of Stride during the 1st quarter worth approximately $111,377,000. Swedbank AB acquired a new stake in shares of Stride in the first quarter valued at $60,385,000. Vaughan Nelson Investment Management L.P. acquired a new stake in shares of Stride in the second quarter valued at $43,387,000. Victory Capital Management Inc. raised its holdings in shares of Stride by 1,443.6% in the 2nd quarter. Victory Capital Management Inc. now owns 479,941 shares of the company’s stock valued at $33,836,000 after buying an additional 448,849 shares during the period. Finally, Price T Rowe Associates Inc. MD lifted its stake in Stride by 641.9% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 508,444 shares of the company’s stock worth $32,058,000 after acquiring an additional 439,911 shares in the last quarter. Hedge funds and other institutional investors 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.