Stride, Inc. (NYSE:LRN) Receives Average Rating of “Moderate Buy” from Brokerages

Stride, Inc. (NYSE:LRN) has received a consensus rating of “Moderate Buy” from the seven analysts that are currently covering the company, Marketbeat reports. Two analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $102.50.

Several equities research analysts recently commented on the company. Barrington Research increased their price objective on Stride from $100.00 to $130.00 and gave the company an “outperform” rating in a research report on Friday. Canaccord Genuity Group increased their price objective on Stride from $94.00 to $100.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. StockNews.com cut Stride from a “buy” rating to a “hold” rating in a research report on Wednesday, October 23rd. Morgan Stanley increased their price objective on Stride from $94.00 to $109.00 and gave the company an “equal weight” rating in a research report on Thursday, December 12th. Finally, BMO Capital Markets increased their price objective on Stride from $84.00 to $88.00 and gave the company an “outperform” rating in a research report on Thursday, October 24th.

Stride Trading Up 0.8 %

NYSE LRN opened at $113.90 on Monday. Stride has a 12 month low of $54.81 and a 12 month high of $115.42. The stock has a market cap of $4.96 billion, a P/E ratio of 20.71, a P/E/G ratio of 0.84 and a beta of 0.32. The stock’s fifty day moving average price is $106.47 and its 200-day moving average price is $88.52. 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 (NYSE:LRN) last released its earnings results on Tuesday, October 22nd. The company reported $0.94 EPS for the quarter, topping 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 firm had revenue of $551.08 million for the quarter, compared to analysts’ expectations of $504.29 million. During the same period in the prior year, the firm posted $0.11 earnings per share. The company’s quarterly revenue was up 14.8% on a year-over-year basis. As a group, equities analysts forecast that Stride will post 6.64 EPS for the current fiscal year.

Insider Activity at Stride

In related news, Director Todd Goldthwaite sold 8,028 shares of Stride stock in a transaction that occurred 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 sale, the director now 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 3.00% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Stride

Several institutional investors have recently added to or reduced their stakes in the company. Janus Henderson Group PLC grew its holdings in Stride by 1.1% during the 3rd quarter. Janus Henderson Group PLC now owns 1,170,434 shares of the company’s stock valued at $99,851,000 after buying an additional 13,050 shares in the last quarter. Geode Capital Management LLC grew its holdings in Stride by 3.8% during the 3rd quarter. Geode Capital Management LLC now owns 964,701 shares of the company’s stock valued at $82,315,000 after buying an additional 35,349 shares in the last quarter. Vaughan Nelson Investment Management L.P. grew its holdings in 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 buying an additional 314,435 shares in the last quarter. Victory Capital Management Inc. grew its holdings in 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 buying an additional 347,564 shares in the last quarter. Finally, Rockefeller Capital Management L.P. grew its holdings in Stride by 0.7% during the 3rd quarter. Rockefeller Capital Management L.P. now owns 753,728 shares of the company’s stock valued at $64,286,000 after buying an additional 5,278 shares in the last quarter. Hedge funds and other institutional investors 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.