Stride (NYSE:LRN) Price Target Raised to $130.00

Stride (NYSE:LRN) had its price target raised by Barrington Research from $100.00 to $130.00 in a research note issued on Friday,Benzinga reports. The firm presently has an “outperform” rating on the stock. Barrington Research’s price objective would indicate a potential upside of 14.14% from the stock’s previous close.

Other research analysts also recently issued research reports about the stock. Citigroup lifted their price objective on shares of Stride from $90.00 to $94.00 and gave the company a “neutral” rating in a research report 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. Canaccord Genuity Group raised their price target on Stride from $94.00 to $100.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Morgan Stanley upped their price objective on shares of Stride from $94.00 to $109.00 and gave the company an “equal weight” rating in a report on Thursday, December 12th. Finally, StockNews.com cut shares of Stride from a “buy” rating to a “hold” rating in a research note on Wednesday, October 23rd. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $102.50.

Stride Stock Up 0.8 %

Stride stock opened at $113.90 on Friday. The company has a current ratio of 5.60, a quick ratio of 5.50 and a debt-to-equity ratio of 0.38. Stride has a 1-year low of $54.81 and a 1-year high of $115.42. The company has a fifty day simple moving average of $106.47 and a 200 day simple moving average of $88.66. The company has a market cap of $4.96 billion, a P/E ratio of 20.71, a price-to-earnings-growth ratio of 0.84 and a beta of 0.32.

Stride (NYSE:LRN) last released its earnings results on Tuesday, October 22nd. The company reported $0.94 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.22 by $0.72. Stride had a return on equity of 21.23% and a net margin of 11.38%. The business had revenue of $551.08 million for the quarter, compared to the consensus estimate of $504.29 million. During the same quarter in the previous year, the business earned $0.11 earnings per share. Stride’s quarterly revenue was up 14.8% on a year-over-year basis. Research analysts anticipate that Stride will post 6.64 earnings per share for the current fiscal year.

Insider Transactions at Stride

In related news, Director Todd Goldthwaite sold 8,028 shares of the firm’s stock in a transaction dated Friday, October 25th. The shares were sold at an average price of $91.54, for a total transaction of $734,883.12. Following 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 Securities & Exchange Commission, which is available through the SEC website. Insiders own 3.00% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the business. Congress Asset Management Co. acquired a new stake in shares of Stride in the third quarter valued at approximately $45,616,000. Victory Capital Management Inc. lifted its position in shares of Stride by 72.4% during the 3rd quarter. Victory Capital Management Inc. now owns 827,505 shares of the company’s stock valued at $70,594,000 after acquiring an additional 347,564 shares during the period. Vaughan Nelson Investment Management L.P. lifted its position in shares of Stride by 51.1% during the 3rd 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 during the period. Loomis Sayles & Co. L P bought a new position in shares of Stride in the third quarter worth $21,044,000. Finally, Wellington Management Group LLP increased its position in shares of Stride by 416.7% in the third quarter. Wellington Management Group LLP now owns 275,483 shares of the company’s stock worth $23,501,000 after purchasing an additional 222,165 shares during the period. Institutional investors and hedge funds own 98.24% of the company’s stock.

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.