Stride (NYSE:LRN) Price Target Raised to $90.00 at Barrington Research

Stride (NYSE:LRN) had its price target increased by analysts at Barrington Research from $85.00 to $90.00 in a note issued to investors on Thursday, Benzinga reports. The firm presently has an “outperform” rating on the stock. Barrington Research’s target price would indicate a potential upside of 11.94% from the company’s current price.

Several other equities research analysts also recently weighed in on the stock. StockNews.com downgraded shares of Stride from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. BMO Capital Markets lifted their target price on Stride from $79.00 to $82.00 and gave the company an “outperform” rating in a research note on Thursday. Canaccord Genuity Group initiated coverage on Stride in a research note on Thursday. They set a “buy” rating and a $94.00 price target for the company. Finally, Canaccord Genuity Group began coverage on Stride in a report on Thursday. They set a “buy” rating and a $94.00 price target for the company. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, Stride presently has a consensus rating of “Moderate Buy” and an average target price of $83.33.

Stride Stock Performance

LRN traded up $2.37 during trading on Thursday, hitting $80.40. 374,966 shares of the stock were exchanged, compared to its average volume of 705,248. The company has a quick ratio of 4.21, a current ratio of 4.29 and a debt-to-equity ratio of 0.40. Stride has a 1-year low of $38.15 and a 1-year high of $80.47. The stock has a fifty day moving average price of $70.01 and a two-hundred day moving average price of $65.41. The firm has a market capitalization of $3.48 billion, a P/E ratio of 18.70, a PEG ratio of 0.74 and a beta of 0.28.

Stride (NYSE:LRN) last announced its earnings results on Tuesday, August 6th. The company reported $1.42 EPS for the quarter, beating analysts’ consensus estimates of $1.27 by $0.15. The business had revenue of $534.18 million for the quarter, compared to analysts’ expectations of $525.89 million. Stride had a net margin of 9.29% and a return on equity of 18.29%. The company’s quarterly revenue was up 10.5% on a year-over-year basis. During the same period in the previous year, the company posted $1.01 EPS. As a group, sell-side analysts predict that Stride will post 4.55 earnings per share for the current year.

Hedge Funds Weigh In On Stride

Institutional investors have recently added to or reduced their stakes in the business. William Blair Investment Management LLC acquired a new stake in Stride in the 1st quarter worth about $111,377,000. Janus Henderson Group PLC lifted its holdings in shares of Stride by 2.7% during the 1st quarter. Janus Henderson Group PLC now owns 1,154,995 shares of the company’s stock worth $72,821,000 after acquiring an additional 30,854 shares during the period. Swedbank AB acquired a new stake in shares of Stride in the first quarter worth approximately $60,385,000. Vaughan Nelson Investment Management L.P. purchased a new stake in Stride in the second quarter valued at approximately $43,387,000. Finally, Price T Rowe Associates Inc. MD increased its position in Stride by 641.9% during the first quarter. Price T Rowe Associates Inc. MD now owns 508,444 shares of the company’s stock worth $32,058,000 after purchasing an additional 439,911 shares during the last quarter. 98.24% of the stock is currently owned by institutional investors and hedge funds.

About Stride

Stride, Inc, a technology-based education service company, provides proprietary and third-party online curriculum, software systems, and educational services to facilitate individualized learning for students primarily in kindergarten through 12th grade (K-12) in the United States and internationally.