Stride (NYSE:LRN) Price Target Raised to $109.00 at Morgan Stanley

Stride (NYSE:LRN) had its price target increased by Morgan Stanley from $94.00 to $109.00 in a report issued on Thursday,Benzinga reports. The firm currently has an equal weight rating on the stock.

Several other research analysts also recently commented on the stock. Canaccord Genuity Group raised their price target on shares of Stride from $94.00 to $100.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Citigroup increased their price objective on Stride from $90.00 to $94.00 and gave the company a “neutral” rating in a research report on Tuesday, October 29th. Barrington Research boosted their target price on Stride from $90.00 to $100.00 and gave the company an “outperform” rating in a research note on Wednesday, October 23rd. BMO Capital Markets increased their target price on shares of Stride from $84.00 to $88.00 and gave the stock an “outperform” rating in a report on Thursday, October 24th. Finally, StockNews.com cut shares of Stride from a “buy” rating to a “hold” rating in a report on Wednesday, October 23rd. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $97.50.

Stride Trading Down 1.1 %

NYSE:LRN opened at $106.22 on Thursday. Stride has a 1 year low of $54.81 and a 1 year high of $112.80. The stock’s fifty day moving average price is $94.03 and its two-hundred day moving average price is $81.91. 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 $4.63 billion, a P/E ratio of 19.31, a P/E/G ratio of 0.80 and a beta of 0.30.

Stride (NYSE:LRN) last issued its earnings results 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 business had revenue of $551.08 million during the quarter, compared to the consensus estimate of $504.29 million. During the same quarter last year, the company earned $0.11 EPS. The firm’s revenue was up 14.8% compared to the same quarter last year. As a group, analysts expect that Stride will post 6.66 EPS for the current year.

Insider Buying and Selling

In related news, Director Todd Goldthwaite sold 8,028 shares of the firm’s stock in a transaction that occurred on Friday, October 25th. The stock was sold at an average price of $91.54, for a total transaction of $734,883.12. Following the completion of the transaction, the director now owns 85,058 shares of the company’s stock, valued at $7,786,209.32. This trade represents a 8.62 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 3.00% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Stride

Institutional investors have recently modified their holdings of the stock. Blue Trust Inc. increased its stake in Stride by 795.5% during 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 in the last quarter. Vaughan Nelson Investment Management L.P. purchased a new position in shares of Stride in the second quarter worth $43,387,000. Kirr Marbach & Co. LLC IN lifted its holdings in shares of Stride by 0.3% during the second quarter. Kirr Marbach & Co. LLC IN now owns 107,595 shares of the company’s stock valued at $7,585,000 after purchasing an additional 348 shares in the last quarter. Hennessy Advisors Inc. bought a new stake in Stride in the 2nd quarter worth about $9,398,000. Finally, SummerHaven Investment Management LLC raised its position in Stride by 1.1% in the 2nd quarter. SummerHaven Investment Management LLC now owns 20,454 shares of the company’s stock worth $1,442,000 after buying an additional 217 shares during the last quarter. 98.24% of the stock is owned by hedge funds and other institutional investors.

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.