Stride (NYSE:LRN) Given “Outperform” Rating at Barrington Research

Stride (NYSE:LRN)‘s stock had its “outperform” rating reissued by equities researchers at Barrington Research in a research note issued on Friday, Benzinga reports. They currently have a $90.00 price objective on the stock. Barrington Research’s price target suggests a potential upside of 5.67% from the stock’s current price.

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

Stride Trading Up 1.0 %

Shares of NYSE:LRN traded up $0.86 during midday trading on Friday, reaching $85.17. 227,401 shares of the company’s stock were exchanged, compared to its average volume of 703,247. The stock has a market cap of $3.68 billion, a price-to-earnings ratio of 19.99, a P/E/G ratio of 0.77 and a beta of 0.26. Stride has a fifty-two week low of $43.77 and a fifty-two week high of $85.28. The firm’s 50 day simple moving average is $77.88 and its two-hundred day simple moving average is $70.08. The company has a debt-to-equity ratio of 0.38, a current ratio of 5.10 and a quick ratio of 4.95.

Stride (NYSE:LRN) last announced its quarterly earnings results on Tuesday, August 6th. The company reported $1.42 earnings per share 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 business had revenue of $534.18 million during the quarter, compared to analysts’ expectations of $525.89 million. During the same period last year, the business earned $1.01 earnings per share. The business’s revenue for the quarter was up 10.5% on a year-over-year basis. As a group, sell-side analysts forecast that Stride will post 5.05 EPS for the current fiscal year.

Hedge Funds Weigh In On Stride

Hedge funds have recently added to or reduced their stakes in the stock. Cim LLC lifted its position in shares of Stride by 81.0% during the 2nd quarter. Cim LLC now owns 6,889 shares of the company’s stock worth $486,000 after buying an additional 3,082 shares during the last quarter. Sanctuary Advisors LLC acquired a new position in Stride in the second quarter valued at $534,000. Susquehanna Fundamental Investments LLC purchased a new position in shares of Stride during the second quarter worth about $374,000. The Manufacturers Life Insurance Company increased its position in shares of Stride by 3.6% during the second quarter. The Manufacturers Life Insurance Company now owns 23,851 shares of the company’s stock worth $1,681,000 after purchasing an additional 822 shares in the last quarter. Finally, Marshall Wace LLP acquired a new stake in shares of Stride during the second quarter worth about $230,000. 98.24% of the stock is currently owned by hedge funds and other institutional investors.

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.