StockNews.com Downgrades Stride (NYSE:LRN) to Hold

StockNews.com downgraded shares of Stride (NYSE:LRN) from a buy rating to a hold rating in a research report released on Wednesday morning.

Several other equities research analysts also recently commented on LRN. Citigroup downgraded shares of Stride from a “buy” rating to a “neutral” rating and upped their price target for the company from $77.00 to $90.00 in a research report on Tuesday, August 20th. Canaccord Genuity Group lifted their target price on Stride from $94.00 to $100.00 and gave the company a “buy” rating in a research note on Wednesday. Canaccord Genuity Group initiated 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. BMO Capital Markets increased their target price on shares of Stride from $79.00 to $82.00 and gave the stock an “outperform” rating in a research report on Thursday, August 8th. Finally, Barrington Research upped their price target on shares of Stride from $90.00 to $100.00 and gave the stock an “outperform” rating in a research note on Wednesday. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $88.50.

Stride Stock Up 39.1 %

LRN opened at $89.72 on Wednesday. Stride has a one year low of $43.90 and a one year high of $89.84. The company has a debt-to-equity ratio of 0.38, a quick ratio of 4.95 and a current ratio of 5.10. The stock’s fifty day moving average is $79.30 and its 200-day moving average is $72.66. The company has a market capitalization of $3.88 billion, a PE ratio of 21.06, a P/E/G ratio of 0.74 and a beta of 0.26.

Stride (NYSE:LRN) last announced its quarterly earnings data on Tuesday, October 22nd. The company reported $0.94 EPS for the quarter, beating analysts’ consensus estimates of $0.22 by $0.72. The company had revenue of $551.08 million during the quarter, compared to the consensus estimate of $504.29 million. Stride had a return on equity of 19.12% and a net margin of 10.01%. The company’s quarterly revenue was up 14.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.11 EPS. On average, equities analysts predict that Stride will post 5.05 EPS for the current fiscal year.

Institutional Trading of Stride

Several institutional investors have recently made changes to their positions in the business. Mendota Financial Group LLC acquired a new stake in shares of Stride in the 3rd quarter valued at $86,000. nVerses Capital LLC bought a new stake in Stride during the 2nd quarter worth about $78,000. Motco acquired a new stake in Stride in the 1st quarter valued at about $74,000. EntryPoint Capital LLC acquired a new position in shares of Stride during the first quarter worth approximately $77,000. Finally, GAMMA Investing LLC grew its stake in shares of Stride by 45.3% during the third quarter. GAMMA Investing LLC now owns 2,061 shares of the company’s stock valued at $176,000 after purchasing an additional 643 shares during the last quarter. 98.24% of the stock is currently owned by institutional investors and hedge funds.

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.