Stride (NYSE:LRN) Sets New 1-Year High at $83.97

Stride, Inc. (NYSE:LRN) shares reached a new 52-week high during trading on Monday . The stock traded as high as $83.97 and last traded at $83.78, with a volume of 240187 shares. The stock had previously closed at $82.53.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on LRN. Citigroup downgraded Stride from a “buy” rating to a “neutral” rating and lifted their price target for the company from $77.00 to $90.00 in a report on Tuesday. StockNews.com upgraded Stride from a “hold” rating to a “buy” rating in a report on Friday, August 9th. Barrington Research lifted their price target on Stride from $85.00 to $90.00 and gave the company an “outperform” rating in a report on Thursday, August 8th. Canaccord Genuity Group began coverage on 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 began coverage on Stride in a report on Thursday, August 8th. They issued a “buy” rating and a $94.00 price target on the stock. Two analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, Stride has a consensus rating of “Moderate Buy” and an average target price of $85.83.

Stride Trading Down 0.3 %

The company has a 50 day moving average of $72.38 and a two-hundred day moving average of $66.78. The company has a debt-to-equity ratio of 0.40, a quick ratio of 4.21 and a current ratio of 4.29. The stock has a market capitalization of $3.46 billion, a PE ratio of 18.84, a P/E/G ratio of 0.74 and a beta of 0.28.

Stride (NYSE:LRN) last issued its quarterly earnings results on Tuesday, August 6th. The company reported $1.42 EPS for the quarter, topping analysts’ consensus estimates of $1.27 by $0.15. The company had revenue of $534.18 million during the quarter, compared to analysts’ expectations of $525.89 million. Stride had a return on equity of 18.29% and a net margin of 9.29%. The firm’s revenue was up 10.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.01 EPS. Sell-side analysts predict that Stride, Inc. will post 4.55 EPS for the current year.

Hedge Funds Weigh In On Stride

Institutional investors and hedge funds have recently modified their holdings of the stock. William Blair Investment Management LLC boosted its position in Stride by 20.1% during the second quarter. William Blair Investment Management LLC now owns 2,122,102 shares of the company’s stock worth $149,608,000 after purchasing an additional 355,614 shares in the last quarter. Janus Henderson Group PLC boosted its position in Stride by 2.7% during the first quarter. Janus Henderson Group PLC now owns 1,154,995 shares of the company’s stock worth $72,821,000 after purchasing an additional 30,854 shares in the last quarter. Swedbank AB purchased a new position in Stride during the first quarter worth approximately $60,385,000. Vaughan Nelson Investment Management L.P. purchased a new position in Stride during the second quarter worth approximately $43,387,000. Finally, Price T Rowe Associates Inc. MD boosted its position in Stride by 641.9% during the first quarter. Price T Rowe Associates Inc. MD now owns 508,444 shares of the company’s stock worth $32,058,000 after purchasing an additional 439,911 shares in the last quarter. Institutional investors and hedge funds own 98.24% of the company’s stock.

About Stride

Stride, Inc, a technology-based education service company, provides proprietary and third-party online curriculum, software systems, and educational services to facilitate individualized learning for students primarily in kindergarten through 12th grade (K-12) in the United States and internationally.