Stride (NYSE:LRN) Reaches New 12-Month High – Still a Buy?

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

Analyst Upgrades and Downgrades

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

Stride Stock Up 4.5 %

The company has a quick ratio of 5.50, a current ratio of 5.60 and a debt-to-equity ratio of 0.38. The company has a market cap of $4.97 billion, a PE ratio of 20.72, a PEG ratio of 0.80 and a beta of 0.32. The company’s fifty day moving average is $104.74 and its 200-day moving average is $86.77.

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, topping analysts’ consensus estimates of $0.22 by $0.72. The firm had revenue of $551.08 million for the quarter, compared to the consensus estimate of $504.29 million. Stride had a return on equity of 21.23% and a net margin of 11.38%. The company’s revenue for the quarter was up 14.8% on a year-over-year basis. During the same period last year, the business posted $0.11 EPS. On average, analysts predict that Stride, Inc. will post 6.64 EPS for the current year.

Insider Buying and Selling at Stride

In other Stride news, Director Todd Goldthwaite sold 8,028 shares of the business’s stock in a transaction dated Friday, October 25th. The stock was sold at an average price of $91.54, for a total transaction of $734,883.12. Following the completion of the sale, the director now owns 85,058 shares of the company’s stock, valued at approximately $7,786,209.32. The trade was a 8.62 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 3.00% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in LRN. Mendota Financial Group LLC purchased a new position in shares of Stride during the 3rd quarter valued at $86,000. TD Private Client Wealth LLC raised its holdings in Stride by 27.7% during the third 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 position in shares of Stride by 45.3% in the third quarter. GAMMA Investing LLC now owns 2,061 shares of the company’s stock valued at $176,000 after acquiring an additional 643 shares in the last quarter. Central Pacific Bank Trust Division boosted its stake in shares of Stride by 24.2% in the third 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 during the period. Finally, Retirement Guys Formula LLC purchased a new stake in shares of Stride during the third quarter worth about $203,000. 98.24% of the stock is owned by hedge funds and other institutional investors.

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.