Stride (NYSE:LRN) Hits New 52-Week High After Analyst Upgrade

Stride, Inc. (NYSE:LRN)’s share price reached a new 52-week high during trading on Thursday after BMO Capital Markets raised their price target on the stock from $84.00 to $88.00. BMO Capital Markets currently has an outperform rating on the stock. Stride traded as high as $90.29 and last traded at $90.14, with a volume of 63092 shares changing hands. The stock had previously closed at $89.71.

Other equities analysts also recently issued reports about the stock. StockNews.com downgraded shares of Stride from a “buy” rating to a “hold” rating in a research note on Wednesday. Citigroup cut shares of Stride from a “buy” rating to a “neutral” rating and increased their price target for the company from $77.00 to $90.00 in a research note on Tuesday, August 20th. Barrington Research increased their price target on Stride from $90.00 to $100.00 and gave the stock an “outperform” rating in a report on Wednesday. Canaccord Genuity Group boosted their price objective on shares of Stride from $94.00 to $100.00 and gave the company a “buy” rating in a report on Wednesday. Finally, Canaccord Genuity Group initiated coverage on shares of Stride in a research note on Thursday, August 8th. They issued a “buy” rating and a $94.00 price target on the stock. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $89.50.

Institutional Investors Weigh In On Stride

Large investors have recently modified their holdings of the company. Motco purchased a new position in Stride during the first quarter worth about $74,000. EntryPoint Capital LLC acquired a new position in shares of Stride during the 1st quarter worth approximately $77,000. nVerses Capital LLC acquired a new position in Stride in the 2nd quarter valued at about $78,000. Mendota Financial Group LLC purchased a new stake in shares of Stride in the third quarter valued at $86,000. Finally, Advisors Asset Management Inc. increased its stake in Stride by 38.0% in the first quarter. Advisors Asset Management Inc. now owns 2,740 shares of the company’s stock valued at $173,000 after purchasing an additional 754 shares during the last quarter. 98.24% of the stock is owned by institutional investors and hedge funds.

Stride Price Performance

The company has a debt-to-equity ratio of 0.38, a current ratio of 5.10 and a quick ratio of 4.95. The stock has a market capitalization of $3.95 billion, a PE ratio of 16.60, a P/E/G ratio of 0.64 and a beta of 0.26. The company has a 50-day moving average of $79.68 and a two-hundred day moving average of $73.01.

Stride (NYSE:LRN) last released its quarterly earnings data on Tuesday, October 22nd. The company reported $0.94 EPS for the quarter, topping analysts’ consensus estimates of $0.22 by $0.72. The business had revenue of $551.08 million during the quarter, compared to the consensus estimate of $504.29 million. Stride had a return on equity of 21.76% and a net margin of 11.38%. The business’s revenue for the quarter was up 14.8% on a year-over-year basis. During the same period in the prior year, the firm posted $0.11 EPS. Sell-side analysts predict that Stride, Inc. will post 5.04 EPS for the current fiscal year.

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.