Stride (NYSE:LRN) Sets New 52-Week High at $84.20

Stride, Inc. (NYSE:LRN)’s share price hit a new 52-week high on Tuesday . The stock traded as high as $84.20 and last traded at $83.30, with a volume of 31600 shares trading hands. The stock had previously closed at $82.90.

Analyst Upgrades and Downgrades

LRN has been the topic of a number of analyst reports. StockNews.com raised shares of Stride from a “hold” rating to a “buy” rating in a research note on Friday, August 9th. Citigroup lowered 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 note on Tuesday, August 20th. BMO Capital Markets raised their target price on Stride from $79.00 to $82.00 and gave the stock an “outperform” rating in a research report on Thursday, August 8th. Canaccord Genuity Group started coverage on Stride in a research note on Thursday, August 8th. They issued a “buy” rating and a $94.00 price target on the stock. Finally, Canaccord Genuity Group started coverage on Stride in a research note on Thursday, August 8th. They set a “buy” rating and a $94.00 price objective for the company. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $85.83.

Stride Stock Down 0.1 %

The firm has a market capitalization of $3.54 billion, a price-to-earnings ratio of 19.23, a P/E/G ratio of 0.77 and a beta of 0.26. The firm has a fifty day moving average price of $77.54 and a 200 day moving average price of $69.98. 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 posted its quarterly earnings data on Tuesday, August 6th. The company reported $1.42 EPS for the quarter, topping analysts’ consensus estimates of $1.27 by $0.15. Stride had a return on equity of 19.12% and a net margin of 10.01%. The company had revenue of $534.18 million for the quarter, compared to analyst estimates of $525.89 million. During the same quarter in the previous year, the firm earned $1.01 earnings per share. The business’s revenue was up 10.5% on a year-over-year basis. Sell-side analysts anticipate that Stride, Inc. will post 5.05 EPS for the current fiscal year.

Institutional Investors Weigh In On Stride

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Nordea Investment Management AB increased its holdings 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 purchasing an additional 34,682 shares in the last quarter. Norges Bank acquired a new stake in shares of Stride in the 4th quarter valued at $25,594,000. UniSuper Management Pty Ltd bought a new stake in shares of Stride during the first quarter worth $555,000. Trexquant Investment LP acquired a new position in shares of Stride during the fourth quarter valued at $1,752,000. Finally, Blue Trust Inc. boosted its holdings in Stride by 795.5% in the second quarter. Blue Trust Inc. now owns 11,543 shares of the company’s stock valued at $814,000 after acquiring an additional 10,254 shares during the last quarter. Institutional investors and hedge funds 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.