Stride (NYSE:LRN) Sets New 52-Week High – Still a Buy?

Shares of Stride, Inc. (NYSE:LRN) hit a new 52-week high on Wednesday . The company traded as high as $117.64 and last traded at $116.68, with a volume of 892479 shares changing hands. The stock had previously closed at $114.16.

Analysts Set New Price Targets

LRN has been the topic of several recent analyst reports. Canaccord Genuity Group lifted their price target on Stride from $94.00 to $100.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Citigroup boosted their target price on Stride from $90.00 to $94.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 29th. Barrington Research raised their price target on shares of Stride from $100.00 to $130.00 and gave the company an “outperform” rating in a research note on Friday, January 17th. BMO Capital Markets upped their price objective on shares of Stride from $84.00 to $88.00 and gave the stock an “outperform” rating in a research report on Thursday, October 24th. Finally, StockNews.com lowered shares of Stride from a “buy” rating to a “hold” rating in a research report 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.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $102.50.

Stride Stock Up 1.6 %

The company has a debt-to-equity ratio of 0.38, a quick ratio of 5.50 and a current ratio of 5.60. The stock’s fifty day simple moving average is $107.72 and its two-hundred day simple moving average is $89.86. The stock has a market capitalization of $5.20 billion, a P/E ratio of 21.71, a price-to-earnings-growth ratio of 0.88 and a beta of 0.32.

Stride (NYSE:LRN) last issued its quarterly earnings results on Tuesday, October 22nd. The company reported $0.94 earnings per share 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 company had revenue of $551.08 million during the quarter, compared to analysts’ expectations of $504.29 million. During the same quarter in the prior year, the firm posted $0.11 earnings per share. The business’s quarterly revenue was up 14.8% on a year-over-year basis. As a group, research analysts expect that Stride, Inc. will post 6.64 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. R Squared Ltd purchased a new stake in shares of Stride in the fourth quarter worth approximately $37,000. Mendota Financial Group LLC purchased a new stake in Stride in the 3rd quarter valued at $86,000. TD Private Client Wealth LLC lifted its stake in Stride by 27.7% during 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 in the last quarter. GAMMA Investing LLC boosted its holdings in Stride by 45.3% during the 3rd quarter. GAMMA Investing LLC now owns 2,061 shares of the company’s stock worth $176,000 after acquiring an additional 643 shares during the last quarter. Finally, Central Pacific Bank Trust Division grew its stake in shares of Stride by 24.2% in the 3rd quarter. Central Pacific Bank Trust Division now owns 2,153 shares of the company’s stock worth $184,000 after acquiring an additional 420 shares in the last quarter. 98.24% of the stock is currently owned by institutional investors and hedge funds.

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.