Stride (NYSE:LRN) Hits New 12-Month High – Here’s Why

Shares of Stride, Inc. (NYSE:LRN) hit a new 52-week high during mid-day trading on Friday . The company traded as high as $112.93 and last traded at $112.72, with a volume of 305181 shares changing hands. The stock had previously closed at $109.02.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on LRN. Canaccord Genuity Group raised their price target on Stride from $94.00 to $100.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Citigroup lifted their price objective on shares of Stride from $90.00 to $94.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 29th. BMO Capital Markets upped their target price on shares of Stride from $84.00 to $88.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. Barrington Research lifted their price target on shares of Stride from $90.00 to $100.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 23rd. Finally, Morgan Stanley raised their price objective on Stride from $94.00 to $109.00 and gave the stock an “equal weight” rating in a research note on Thursday, December 12th. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $97.50.

Stride Trading Up 2.2 %

The firm has a market capitalization of $4.86 billion, a price-to-earnings ratio of 20.26, a price-to-earnings-growth ratio of 0.80 and a beta of 0.32. The business’s fifty day moving average is $105.10 and its 200 day moving average is $87.18. 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) last released its quarterly earnings results on Tuesday, October 22nd. The company reported $0.94 earnings per share (EPS) for the quarter, beating the consensus estimate 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 the consensus estimate of $504.29 million. During the same quarter last year, the business posted $0.11 EPS. The company’s revenue for the quarter was up 14.8% on a year-over-year basis. Equities analysts predict that Stride, Inc. will post 6.64 earnings per share for the current year.

Insider Buying and Selling at Stride

In other news, Director Todd Goldthwaite sold 8,028 shares of the business’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 in the company, valued at $7,786,209.32. The trade was a 8.62 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 3.00% of the company’s stock.

Hedge Funds Weigh In On Stride

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Mendota Financial Group LLC acquired a new stake in shares of Stride in the third quarter valued at approximately $86,000. TD Private Client Wealth LLC raised its stake in Stride by 27.7% in the 3rd quarter. TD Private Client Wealth LLC now owns 1,962 shares of the company’s stock valued at $167,000 after acquiring an additional 426 shares during the period. GAMMA Investing LLC lifted its holdings in Stride by 45.3% during the 3rd quarter. GAMMA Investing LLC now owns 2,061 shares of the company’s stock valued at $176,000 after purchasing an additional 643 shares during the last quarter. Central Pacific Bank Trust Division boosted its position in Stride by 24.2% during the third quarter. Central Pacific Bank Trust Division now owns 2,153 shares of the company’s stock worth $184,000 after purchasing an additional 420 shares during the period. Finally, Retirement Guys Formula LLC acquired a new position in shares of Stride in the third quarter valued at $203,000. Institutional investors own 98.24% of the company’s stock.

About Stride

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.