Stride (NYSE:LRN) Sets New 1-Year High Following Analyst Upgrade

Stride, Inc. (NYSE:LRN - Get Free Report)'s stock price hit a new 52-week high on Wednesday after Citigroup raised their price target on the stock from $90.00 to $94.00. Citigroup currently has a neutral rating on the stock. Stride traded as high as $94.74 and last traded at $93.68, with a volume of 253206 shares trading hands. The stock had previously closed at $91.07.

LRN has been the topic of a number of other research reports. Barrington Research boosted their target price on Stride from $90.00 to $100.00 and gave the stock an "outperform" rating in a research note on Wednesday, October 23rd. StockNews.com cut Stride from a "buy" rating to a "hold" rating in a research report on Wednesday, October 23rd. BMO Capital Markets raised their target price on Stride from $84.00 to $88.00 and gave the company an "outperform" rating in a research report on Thursday, October 24th. Canaccord Genuity Group began coverage on shares of Stride in a report on Thursday, August 8th. They issued a "buy" rating and a $94.00 price target on the stock. Finally, Canaccord Genuity Group increased their price target on shares of Stride from $94.00 to $100.00 and gave the company a "buy" rating in a research report on Wednesday, October 23rd. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $90.17.

Insider Activity

In related news, Director Todd Goldthwaite sold 8,028 shares of Stride stock in a transaction dated Friday, October 25th. The stock was sold at an average price of $91.54, for a total value of $734,883.12. Following the completion of the sale, the director now owns 85,058 shares of the company's stock, valued at approximately $7,786,209.32. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 2.76% of the company's stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. SummerHaven Investment Management LLC boosted its holdings in shares of Stride by 1.1% in the second quarter. SummerHaven Investment Management LLC now owns 20,454 shares of the company's stock worth $1,442,000 after acquiring an additional 217 shares during the period. Arizona State Retirement System boosted its stake in Stride by 1.9% in the 2nd quarter. Arizona State Retirement System now owns 11,536 shares of the company's stock worth $813,000 after purchasing an additional 220 shares during the period. Isthmus Partners LLC grew its holdings in Stride by 4.8% during the 2nd quarter. Isthmus Partners LLC now owns 4,814 shares of the company's stock valued at $339,000 after buying an additional 222 shares in the last quarter. Amalgamated Bank increased its position in shares of Stride by 1.9% during the third quarter. Amalgamated Bank now owns 12,528 shares of the company's stock valued at $1,069,000 after buying an additional 235 shares during the period. Finally, Sei Investments Co. increased its position in shares of Stride by 0.6% during the second quarter. Sei Investments Co. now owns 40,210 shares of the company's stock valued at $2,834,000 after buying an additional 242 shares during the period. 98.24% of the stock is currently owned by hedge funds and other institutional investors.

Stride Stock Performance

The business's fifty day moving average price is $80.05 and its 200-day moving average price is $73.63. 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 $4.07 billion, a PE ratio of 22.08, a P/E/G ratio of 0.64 and a beta of 0.26.

Stride (NYSE:LRN - Get Free Report) last posted its earnings results on Tuesday, October 22nd. The company reported $0.94 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.22 by $0.72. The business had revenue of $551.08 million for the quarter, compared to analysts' expectations of $504.29 million. Stride had a net margin of 11.38% and a return on equity of 21.76%. The business's revenue for the quarter was up 14.8% compared to the same quarter last year. During the same period in the prior year, the company posted $0.11 EPS. As a group, equities research analysts expect that Stride, Inc. will post 5.04 EPS for the current 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.