Stride (NYSE:LRN) Sets New 12-Month High - Should You Buy?

Stride, Inc. (NYSE:LRN - Get Free Report)'s stock price reached a new 52-week high during trading on Friday . The stock traded as high as $112.93 and last traded at $112.72, with a volume of 305181 shares. The stock had previously closed at $109.02.

Wall Street Analysts Forecast Growth

LRN has been the subject of a number of analyst reports. Citigroup raised their target price on shares of Stride from $90.00 to $94.00 and gave the company a "neutral" rating in a research note on Tuesday, October 29th. BMO Capital Markets boosted their target price on Stride from $84.00 to $88.00 and gave the stock an "outperform" rating in a report on Thursday, October 24th. StockNews.com downgraded Stride from a "buy" rating to a "hold" rating in a report on Wednesday, October 23rd. Barrington Research upped their price target on shares of Stride from $90.00 to $100.00 and gave the stock an "outperform" rating in a research note on Wednesday, October 23rd. Finally, Canaccord Genuity Group raised their price objective on shares of Stride from $94.00 to $100.00 and gave the company a "buy" rating in a research note on Wednesday, October 23rd. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $97.50.

Stride Price Performance

The stock has a market capitalization of $4.86 billion, a PE ratio of 20.26, a PEG ratio of 0.80 and a beta of 0.32. The firm's fifty day moving average price is $104.74 and its two-hundred day moving average price is $86.77. The company has a quick ratio of 5.50, a current ratio of 5.60 and a debt-to-equity ratio of 0.38.

Stride (NYSE:LRN - Get Free Report) last issued its quarterly earnings data on Tuesday, October 22nd. The company reported $0.94 EPS for the quarter, topping the consensus estimate of $0.22 by $0.72. The company had revenue of $551.08 million during the quarter, compared to analyst estimates of $504.29 million. Stride had a return on equity of 21.23% and a net margin of 11.38%. Stride's revenue was up 14.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.11 earnings per share. On average, equities analysts predict that Stride, Inc. will post 6.64 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Todd Goldthwaite sold 8,028 shares of the firm's stock in a transaction on Friday, October 25th. The shares were sold at an average price of $91.54, for a total transaction of $734,883.12. Following the completion of the transaction, the director now directly owns 85,058 shares of the company's stock, valued at approximately $7,786,209.32. This trade represents a 8.62 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 3.00% of the stock is currently owned by insiders.

Institutional Trading of Stride

Several hedge funds have recently modified their holdings of LRN. Congress Asset Management Co. bought a new stake in shares of Stride during the third quarter valued at approximately $45,616,000. William Blair Investment Management LLC lifted its holdings in shares of Stride by 20.1% in the 2nd quarter. William Blair Investment Management LLC now owns 2,122,102 shares of the company's stock worth $149,608,000 after buying an additional 355,614 shares during the period. Victory Capital Management Inc. increased its stake in shares of Stride by 72.4% during the third quarter. Victory Capital Management Inc. now owns 827,505 shares of the company's stock valued at $70,594,000 after buying an additional 347,564 shares during the period. Vaughan Nelson Investment Management L.P. raised its holdings in shares of Stride by 51.1% in the third quarter. Vaughan Nelson Investment Management L.P. now owns 929,855 shares of the company's stock valued at $79,326,000 after acquiring an additional 314,435 shares in the last quarter. Finally, Loomis Sayles & Co. L P purchased a new stake in Stride in the third quarter worth about $21,044,000. 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, 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.