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

Stride, Inc. (NYSE:LRN)’s stock price reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $109.30 and last traded at $109.17, with a volume of 113762 shares changing hands. The stock had previously closed at $106.99.

Analyst Ratings Changes

A number of brokerages have commented on LRN. Barrington Research upped their price target on Stride from $90.00 to $100.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 23rd. StockNews.com cut shares of Stride from a “buy” rating to a “hold” rating in a research note on Wednesday, October 23rd. Canaccord Genuity Group upped their price target on shares of Stride from $94.00 to $100.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Canaccord Genuity Group started coverage on shares of Stride in a research report on Thursday, August 8th. They set a “buy” rating and a $94.00 price objective on the stock. Finally, BMO Capital Markets upped their target price on shares of Stride from $84.00 to $88.00 and gave the stock an “outperform” rating in a report on Thursday, October 24th. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, Stride presently has an average rating of “Moderate Buy” and a consensus target price of $90.17.

Stride Stock Performance

The business’s fifty day moving average price is $89.57 and its two-hundred day moving average price is $79.59. 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 has a market capitalization of $4.84 billion, a P/E ratio of 19.44, a P/E/G ratio of 0.80 and a beta of 0.30.

Stride (NYSE:LRN) last announced 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 during the quarter, compared to analysts’ expectations of $504.29 million. During the same quarter in the previous year, the business earned $0.11 EPS. The company’s quarterly revenue was up 14.8% on a year-over-year basis. As a group, sell-side analysts forecast that Stride, Inc. will post 6.66 earnings per share for the current year.

Insider Activity

In other Stride news, Director Todd Goldthwaite sold 8,028 shares of the stock in a transaction on Friday, October 25th. The stock was sold at an average price of $91.54, for a total value of $734,883.12. Following the sale, the director now owns 85,058 shares in the company, valued at $7,786,209.32. This trade represents a 8.62 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 3.00% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. nVerses Capital LLC purchased a new stake in Stride in the 2nd quarter valued at about $78,000. Mendota Financial Group LLC bought a new stake in shares of Stride during the third quarter valued at approximately $86,000. TD Private Client Wealth LLC boosted its holdings in shares of Stride by 27.7% in the third quarter. TD Private Client Wealth LLC now owns 1,962 shares of the company’s stock valued at $167,000 after purchasing an additional 426 shares during the period. GAMMA Investing LLC increased 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 purchasing an additional 643 shares during the period. Finally, Central Pacific Bank Trust Division increased its holdings in Stride by 24.2% during the 3rd 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. Hedge funds and other 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.