Stride (NYSE:LRN) Reaches New 52-Week High – Here’s Why

Stride, Inc. (NYSE:LRN)’s stock price hit a new 52-week high during mid-day trading on Monday . The company traded as high as $137.76 and last traded at $137.06, with a volume of 335230 shares traded. The stock had previously closed at $134.90.

Analysts Set New Price Targets

A number of analysts recently issued reports on the stock. Morgan Stanley lifted their price target on shares of Stride from $94.00 to $109.00 and gave the stock an “equal weight” rating in a research note on Thursday, December 12th. BMO Capital Markets lifted their price target on shares of Stride from $122.00 to $134.00 and gave the stock an “outperform” rating in a research note on Thursday. Canaccord Genuity Group lifted their price target on shares of Stride from $100.00 to $130.00 and gave the stock a “buy” rating in a research note on Monday, January 27th. Citigroup boosted their target price 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, StockNews.com lowered shares of Stride from a “buy” rating to a “hold” rating in a research note on Wednesday, October 23rd. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, Stride presently has a consensus rating of “Moderate Buy” and an average price target of $116.83.

Stride Price Performance

The company has a debt-to-equity ratio of 0.35, a quick ratio of 5.93 and a current ratio of 6.02. The stock has a market capitalization of $5.99 billion, a price-to-earnings ratio of 22.97, a price-to-earnings-growth ratio of 1.01 and a beta of 0.32. The business’s 50 day simple moving average is $110.56 and its 200-day simple moving average is $92.58.

Stride (NYSE:LRN) last issued its quarterly earnings data on Tuesday, January 28th. The company reported $2.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.92 by $0.11. Stride had a return on equity of 22.42% and a net margin of 12.30%. Research analysts anticipate that Stride, Inc. will post 6.67 earnings per share for the current year.

Institutional Investors Weigh In On Stride

Institutional investors have recently added to or reduced their stakes in the company. Sanctuary Advisors LLC acquired a new stake in Stride in the second quarter worth approximately $534,000. B. Riley Wealth Advisors Inc. acquired a new stake in shares of Stride during the 3rd quarter valued at $430,000. International Assets Investment Management LLC lifted its position in shares of Stride by 8,431.7% during the 3rd quarter. International Assets Investment Management LLC now owns 5,119 shares of the company’s stock valued at $437,000 after acquiring an additional 5,059 shares during the last quarter. Quest Partners LLC lifted its position in shares of Stride by 20,248.8% during the 3rd quarter. Quest Partners LLC now owns 8,343 shares of the company’s stock valued at $712,000 after acquiring an additional 8,302 shares during the last quarter. Finally, Livforsakringsbolaget Skandia Omsesidigt lifted its position in shares of Stride by 24.6% during the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 36,000 shares of the company’s stock valued at $3,071,000 after acquiring an additional 7,100 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.