Stride (NYSE:LRN) Hits New 52-Week High – Should You Buy?

by · The Markets Daily

Shares of Stride, Inc. (NYSE:LRN – Get Free Report) reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $103.92 and last traded at $103.40, with a volume of 23325 shares traded. The stock had previously closed at $102.89.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on LRN shares. Barrington Research raised their price target on shares of 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 raised their price target on shares of Stride from $94.00 to $100.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. StockNews.com lowered shares of Stride from a “buy” rating to a “hold” rating in a research note on Wednesday, October 23rd. Citigroup raised their price target on shares of Stride from $90.00 to $94.00 and gave the company a “neutral” rating in a research note on Tuesday, October 29th. Finally, BMO Capital Markets raised their price target on shares of Stride from $84.00 to $88.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, Stride presently has an average rating of “Moderate Buy” and a consensus target price of $90.17.

Check Out Our Latest Stock Analysis on LRN

Stride Price Performance

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 cap of $4.48 billion, a PE ratio of 18.71, a PEG ratio of 0.77 and a beta of 0.27. The stock’s 50-day moving average is $82.82 and its two-hundred day moving average is $76.01.

Stride (NYSE:LRN – Get Free Report) last posted its quarterly earnings data on Tuesday, October 22nd. The company reported $0.94 earnings per share for the quarter, topping analysts’ consensus estimates of $0.22 by $0.72. Stride had a net margin of 11.38% and a return on equity of 21.23%. The firm had revenue of $551.08 million during the quarter, compared to analysts’ expectations of $504.29 million. During the same quarter last year, the company posted $0.11 EPS. The firm’s quarterly revenue was up 14.8% on a year-over-year basis. On average, equities analysts predict that Stride, Inc. will post 6.66 earnings per share for the current year.

Insider Transactions at Stride

In other news, Director Todd Goldthwaite sold 8,028 shares of Stride stock in a transaction on Friday, October 25th. The shares were 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 directly owns 85,058 shares of the company’s stock, valued at approximately $7,786,209.32. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 2.76% of the company’s stock.

Institutional Investors Weigh In On Stride

Several hedge funds and other institutional investors have recently bought and sold shares of LRN. Swedbank AB acquired a new stake in Stride during the 1st quarter worth $60,385,000. Vaughan Nelson Investment Management L.P. purchased a new stake in Stride during the second quarter worth about $43,387,000. Congress Asset Management Co. purchased a new stake in Stride during the third quarter worth about $45,616,000. Victory Capital Management Inc. boosted its holdings in Stride by 1,443.6% during the second quarter. Victory Capital Management Inc. now owns 479,941 shares of the company’s stock worth $33,836,000 after buying an additional 448,849 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its holdings in Stride by 641.9% during the first quarter. Price T Rowe Associates Inc. MD now owns 508,444 shares of the company’s stock worth $32,058,000 after buying an additional 439,911 shares in the last quarter. 98.24% of the stock is currently owned by institutional investors and hedge funds.

About Stride

(Get Free Report)

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.

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