Brokerages Set Stride, Inc. (NYSE:LRN) Price Target at $116.83

Stride, Inc. (NYSE:LRN) has been assigned an average recommendation of “Moderate Buy” from the six ratings firms that are currently covering the company, MarketBeat.com reports. Two research analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $116.83.

Several equities research analysts recently issued reports on the stock. StockNews.com downgraded shares of Stride from a “buy” rating to a “hold” rating in a research note on Wednesday, October 23rd. Citigroup raised their price objective on shares of Stride from $90.00 to $94.00 and gave the stock a “neutral” rating in a report on Tuesday, October 29th. Canaccord Genuity Group raised their price objective on shares of Stride from $100.00 to $130.00 and gave the stock a “buy” rating in a report on Monday, January 27th. Barrington Research raised their price objective on shares of Stride from $130.00 to $140.00 and gave the stock an “outperform” rating in a report on Wednesday, January 29th. Finally, Morgan Stanley raised their price objective on shares of Stride from $94.00 to $109.00 and gave the stock an “equal weight” rating in a report on Thursday, December 12th.

Stride Stock Performance

NYSE:LRN opened at $142.45 on Friday. The firm’s 50 day moving average is $113.74 and its two-hundred day moving average is $94.99. Stride has a fifty-two week low of $54.81 and a fifty-two week high of $145.00. The company has a quick ratio of 5.93, a current ratio of 6.02 and a debt-to-equity ratio of 0.35. The company has a market cap of $6.20 billion, a P/E ratio of 23.78, a P/E/G ratio of 1.04 and a beta of 0.32.

Stride (NYSE:LRN) last issued its earnings results on Tuesday, January 28th. The company reported $2.03 EPS for the quarter, beating analysts’ consensus estimates of $1.92 by $0.11. Stride had a net margin of 12.30% and a return on equity of 22.42%. Analysts expect that Stride will post 6.67 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the business. Principal Financial Group Inc. boosted its stake in Stride by 293.1% during the 4th quarter. Principal Financial Group Inc. now owns 866,182 shares of the company’s stock valued at $90,024,000 after purchasing an additional 645,835 shares during the period. Congress Asset Management Co. acquired a new position in Stride during the 3rd quarter valued at about $45,616,000. Victory Capital Management Inc. boosted its stake in Stride by 72.4% during the 3rd quarter. Victory Capital Management Inc. now owns 827,505 shares of the company’s stock valued at $70,594,000 after purchasing an additional 347,564 shares during the period. Vaughan Nelson Investment Management L.P. boosted its stake in Stride by 51.1% during the 3rd quarter. Vaughan Nelson Investment Management L.P. now owns 929,855 shares of the company’s stock valued at $79,326,000 after purchasing an additional 314,435 shares during the period. Finally, Loomis Sayles & Co. L P acquired a new position in Stride during the 3rd quarter valued at about $21,044,000. 98.24% of the stock is owned by institutional investors and hedge funds.

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.