Stride’s (LRN) “Outperform” Rating Reaffirmed at Barrington Research

Barrington Research reaffirmed their outperform rating on shares of Stride (NYSE:LRN) in a research report report published on Wednesday, Benzinga reports. They currently have a $75.00 price target on the stock.

Several other brokerages also recently weighed in on LRN. Morgan Stanley boosted their price objective on Stride from $60.00 to $65.00 and gave the company an equal weight rating in a research report on Wednesday, January 24th. Citigroup boosted their price objective on Stride from $70.00 to $75.00 and gave the company a buy rating in a research report on Monday, January 29th. StockNews.com raised Stride from a hold rating to a buy rating in a research note on Tuesday, April 2nd. BMO Capital Markets boosted their target price on Stride from $71.00 to $72.00 and gave the company an outperform rating in a research note on Thursday, January 25th. Finally, Wedbush reissued an outperform rating on shares of Stride in a research note on Wednesday, January 24th. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of Moderate Buy and an average price target of $71.75.

Stride Stock Performance

NYSE:LRN opened at $63.20 on Wednesday. The business has a 50 day moving average of $60.26 and a 200 day moving average of $58.25. The company has a market capitalization of $2.74 billion, a price-to-earnings ratio of 14.84, a PEG ratio of 0.67 and a beta of 0.26. Stride has a 1-year low of $35.61 and a 1-year high of $69.70. The company has a debt-to-equity ratio of 0.43, a current ratio of 4.52 and a quick ratio of 4.44.

Stride (NYSE:LRN) last released its earnings results on Tuesday, April 23rd. The company reported $1.60 earnings per share for the quarter, topping analysts’ consensus estimates of $1.47 by $0.13. Stride had a return on equity of 18.86% and a net margin of 9.29%. The company had revenue of $520.84 million during the quarter, compared to the consensus estimate of $507.89 million. During the same quarter in the previous year, the company posted $1.30 EPS. Stride’s quarterly revenue was up 10.7% compared to the same quarter last year. On average, sell-side analysts predict that Stride will post 4.31 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Stride

Several hedge funds have recently made changes to their positions in LRN. Ronald Blue Trust Inc. grew its stake in Stride by 348.1% in the third quarter. Ronald Blue Trust Inc. now owns 578 shares of the company’s stock worth $26,000 after purchasing an additional 449 shares during the period. SG Americas Securities LLC grew its stake in Stride by 18.5% in the third quarter. SG Americas Securities LLC now owns 19,987 shares of the company’s stock worth $900,000 after purchasing an additional 3,119 shares during the period. Exchange Traded Concepts LLC grew its stake in Stride by 126.3% in the third quarter. Exchange Traded Concepts LLC now owns 34,169 shares of the company’s stock worth $1,539,000 after purchasing an additional 19,068 shares during the period. Cambridge Investment Research Advisors Inc. purchased a new stake in Stride in the third quarter worth $428,000. Finally, TD Asset Management Inc purchased a new stake in Stride in the third quarter worth $207,000. 98.24% of the stock is owned by hedge funds and other institutional investors.

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.