Stride (NYSE:LRN) Reaches New 52-Week High on Analyst Upgrade

Stride, Inc. (NYSE:LRN - Get Free Report)'s share price hit a new 52-week high during mid-day trading 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. The stock had previously closed at $91.07.

A number of other brokerages have also weighed in on LRN. 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, October 23rd. 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. StockNews.com downgraded shares of Stride from a "buy" rating to a "hold" rating in a report on Wednesday, October 23rd. Barrington Research increased their price target on Stride from $90.00 to $100.00 and gave the stock an "outperform" rating in a research report on Wednesday, October 23rd. Finally, BMO Capital Markets upped their target price on Stride from $84.00 to $88.00 and gave the stock an "outperform" rating in a research note on Thursday, October 24th. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, Stride presently has an average rating of "Moderate Buy" and a consensus target price of $90.17.

Insiders Place Their Bets

In other Stride news, Director Todd Goldthwaite sold 8,028 shares of the firm's stock in a transaction on Friday, October 25th. The stock was sold at an average price of $91.54, for a total transaction of $734,883.12. Following the completion of the sale, the director now owns 85,058 shares of the company's stock, valued at $7,786,209.32. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 2.76% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the stock. Nordea Investment Management AB lifted its holdings in shares of Stride by 48.9% in the 1st quarter. Nordea Investment Management AB now owns 105,630 shares of the company's stock worth $6,698,000 after acquiring an additional 34,682 shares during the last quarter. UniSuper Management Pty Ltd purchased a new stake in shares of Stride in the 1st quarter valued at approximately $555,000. Blue Trust Inc. raised its holdings in shares of Stride by 795.5% in the 2nd quarter. Blue Trust Inc. now owns 11,543 shares of the company's stock valued at $814,000 after purchasing an additional 10,254 shares in the last quarter. Sanctuary Advisors LLC purchased a new stake in shares of Stride during the 2nd quarter worth $534,000. Finally, Livforsakringsbolaget Skandia Omsesidigt grew its stake in shares of Stride by 24.6% during the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 36,000 shares of the company's stock worth $3,071,000 after purchasing an additional 7,100 shares in the last quarter. Institutional investors and hedge funds own 98.24% of the company's stock.

Stride Stock Up 2.9 %

The stock has a market cap of $4.05 billion, a PE ratio of 21.38, a price-to-earnings-growth ratio of 0.64 and a beta of 0.26. The company has a quick ratio of 4.95, a current ratio of 5.10 and a debt-to-equity ratio of 0.38. The firm has a fifty day moving average of $80.05 and a 200 day moving average of $73.63.

Stride (NYSE:LRN - Get Free Report) last announced its quarterly earnings results on Tuesday, October 22nd. The company reported $0.94 EPS for the quarter, beating the consensus estimate of $0.22 by $0.72. Stride had a net margin of 11.38% and a return on equity of 21.76%. The company had revenue of $551.08 million for the quarter, compared to analyst estimates of $504.29 million. During the same period in the prior year, the firm posted $0.11 earnings per share. The firm's revenue was up 14.8% on a year-over-year basis. On average, equities research analysts anticipate 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.