Stride (NYSE:LRN) Sets New 1-Year High at $83.97

Stride, Inc. (NYSE:LRN)’s stock price hit a new 52-week high during trading on Monday . The stock traded as high as $83.97 and last traded at $83.78, with a volume of 240187 shares traded. The stock had previously closed at $82.53.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on 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 price target on the stock. Citigroup downgraded Stride from a “buy” rating to a “neutral” rating and upped their price objective for the stock from $77.00 to $90.00 in a report on Tuesday. Canaccord Genuity Group started coverage on Stride in a report on Thursday, August 8th. They set a “buy” rating and a $94.00 price objective for the company. BMO Capital Markets upped their price objective on Stride from $79.00 to $82.00 and gave the stock an “outperform” rating in a report on Thursday, August 8th. Finally, Barrington Research upped their price target on shares of Stride from $85.00 to $90.00 and gave the stock an “outperform” rating in a research report on Thursday, August 8th. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $85.83.

Stride Trading Down 0.3 %

The business’s 50-day moving average is $72.38 and its two-hundred day moving average is $66.78. The company has a current ratio of 4.29, a quick ratio of 4.21 and a debt-to-equity ratio of 0.40. The stock has a market capitalization of $3.46 billion, a PE ratio of 18.84, a PEG ratio of 0.74 and a beta of 0.28.

Stride (NYSE:LRN) last posted its quarterly earnings data 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. The company had revenue of $534.18 million during 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 firm’s revenue for the quarter was up 10.5% on a year-over-year basis. During the same period in the prior year, the company posted $1.01 EPS. On average, analysts predict that Stride, Inc. will post 4.55 earnings per share for the current year.

Hedge Funds Weigh In On Stride

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. International Assets Investment Management LLC lifted its position in shares of Stride by 5,837.0% during the fourth quarter. International Assets Investment Management LLC now owns 13,655 shares of the company’s stock worth $811,000 after purchasing an additional 13,425 shares during the last quarter. Allspring Global Investments Holdings LLC raised its stake in Stride by 148.7% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 27,731 shares of the company’s stock worth $1,646,000 after acquiring an additional 16,579 shares during the period. Louisiana State Employees Retirement System acquired a new stake in Stride during the fourth quarter worth about $1,181,000. Strs Ohio acquired a new stake in Stride during the fourth quarter worth about $47,000. Finally, Mackenzie Financial Corp acquired a new stake in Stride during the fourth quarter worth about $505,000. 98.24% of the stock is owned by hedge funds and other institutional investors.

Stride Company Profile

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.