Stride, Inc. (NYSE:LRN) Receives Average Rating of “Moderate Buy” from Brokerages

Stride, Inc. (NYSE:LRN) has been assigned an average recommendation of “Moderate Buy” from the seven brokerages that are currently covering the firm, MarketBeat reports. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average 1-year price target among brokerages that have covered the stock in the last year is $90.17.

A number of brokerages have commented on LRN. Citigroup boosted their target price on Stride from $90.00 to $94.00 and gave the company a “neutral” rating in a research note on Tuesday, October 29th. StockNews.com downgraded 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 Stride from $94.00 to $100.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. BMO Capital Markets upped their price target on Stride from $84.00 to $88.00 and gave the stock an “outperform” rating in a research note on Thursday, October 24th. Finally, Barrington Research upped their price target on Stride from $90.00 to $100.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 23rd.

Insider Activity at Stride

In related news, Director Todd Goldthwaite sold 8,028 shares of the stock in a transaction that occurred on 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 in the company, valued at $7,786,209.32. This represents a 8.62 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 3.00% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Stride

Several large investors have recently added to or reduced their stakes in the company. William Blair Investment Management LLC raised its holdings in Stride by 20.1% in the 2nd quarter. William Blair Investment Management LLC now owns 2,122,102 shares of the company’s stock valued at $149,608,000 after acquiring an additional 355,614 shares in the last quarter. Janus Henderson Group PLC raised its holdings in Stride by 1.1% in the 3rd quarter. Janus Henderson Group PLC now owns 1,170,434 shares of the company’s stock valued at $99,851,000 after acquiring an additional 13,050 shares in the last quarter. Geode Capital Management LLC raised its holdings in Stride by 3.8% in the 3rd quarter. Geode Capital Management LLC now owns 964,701 shares of the company’s stock valued at $82,315,000 after acquiring an additional 35,349 shares in the last quarter. Swedbank AB acquired a new position in Stride in the 1st quarter valued at approximately $60,385,000. Finally, Vaughan Nelson Investment Management L.P. raised its holdings in shares of Stride by 51.1% in the 3rd quarter. Vaughan Nelson Investment Management L.P. now owns 929,855 shares of the company’s stock worth $79,326,000 after buying an additional 314,435 shares in the last quarter. Institutional investors and hedge funds own 98.24% of the company’s stock.

Stride Stock Down 1.3 %

NYSE:LRN opened at $107.04 on Friday. The firm has a market capitalization of $4.67 billion, a price-to-earnings ratio of 19.46, a PEG ratio of 0.80 and a beta of 0.27. Stride has a 1-year low of $54.81 and a 1-year high of $108.48. The company has a current ratio of 5.60, a quick ratio of 5.50 and a debt-to-equity ratio of 0.38. The business’s fifty day moving average price is $88.24 and its 200 day moving average price is $78.78.

Stride (NYSE:LRN) last issued its earnings results on Tuesday, October 22nd. The company reported $0.94 EPS for the quarter, beating 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 for the quarter, compared to the consensus estimate of $504.29 million. During the same quarter in the previous year, the company posted $0.11 earnings per share. The business’s quarterly revenue was up 14.8% compared to the same quarter last year. On average, sell-side analysts forecast that Stride will post 6.66 earnings per share for the current fiscal year.

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.