Stride (NYSE:LRN) PT Raised to $88.00 at BMO Capital Markets

Stride (NYSE:LRN) had its price objective raised by BMO Capital Markets from $84.00 to $88.00 in a report published on Thursday, Benzinga reports. BMO Capital Markets currently has an outperform rating on the stock.

A number of other equities research analysts also recently weighed in on LRN. Citigroup downgraded shares of Stride from a “buy” rating to a “neutral” rating and boosted their price target for the stock from $77.00 to $90.00 in a research note on Tuesday, August 20th. Canaccord Genuity Group upped their target price on shares of Stride from $94.00 to $100.00 and gave the company a “buy” rating in a research report on Wednesday. StockNews.com downgraded Stride from a “buy” rating to a “hold” rating in a research note on Wednesday. Canaccord Genuity Group started coverage on Stride in a research note on Thursday, August 8th. They set a “buy” rating and a $94.00 price objective for the company. Finally, Barrington Research increased their target price on Stride from $90.00 to $100.00 and gave the company an “outperform” rating in a research note on Wednesday. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $89.50.

Stride Trading Down 0.9 %

NYSE:LRN traded down $0.84 during trading hours on Thursday, hitting $91.49. 156,858 shares of the stock were exchanged, compared to its average volume of 828,180. The company has a market capitalization of $3.96 billion, a P/E ratio of 21.66, a price-to-earnings-growth ratio of 0.74 and a beta of 0.26. The company has a quick ratio of 4.95, a current ratio of 5.10 and a debt-to-equity ratio of 0.38. The company’s 50 day moving average is $79.51 and its two-hundred day moving average is $72.80. Stride has a twelve month low of $51.75 and a twelve month high of $92.75.

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Nordea Investment Management AB lifted its holdings in shares of Stride by 48.9% during the 1st quarter. Nordea Investment Management AB now owns 105,630 shares of the company’s stock valued at $6,698,000 after purchasing an additional 34,682 shares in the last quarter. UniSuper Management Pty Ltd bought a new position in Stride in the first quarter valued at approximately $555,000. Blue Trust Inc. increased its position in shares of Stride by 795.5% during the second quarter. Blue Trust Inc. now owns 11,543 shares of the company’s stock worth $814,000 after acquiring an additional 10,254 shares in the last quarter. Sanctuary Advisors LLC bought a new stake in shares of Stride during the second quarter worth $534,000. Finally, Livforsakringsbolaget Skandia Omsesidigt raised its holdings in shares of Stride by 24.6% during the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 36,000 shares of the company’s stock worth $3,071,000 after acquiring an additional 7,100 shares during the period. 98.24% of the stock is owned by institutional investors and hedge funds.

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.