Stride (NYSE:LRN) Hits New 12-Month High – What’s Next?

Stride, Inc. (NYSE:LRN) hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $98.16 and last traded at $97.44, with a volume of 3483 shares changing hands. The stock had previously closed at $94.77.

Wall Street Analyst Weigh In

Several equities research analysts have commented on LRN shares. Barrington Research upped their target price 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. StockNews.com lowered Stride from a “buy” rating to a “hold” rating in a report on Wednesday, October 23rd. Canaccord Genuity Group assumed coverage on Stride in a report on Thursday, August 8th. They issued a “buy” rating and a $94.00 price target for the company. Citigroup lifted their price objective on Stride from $90.00 to $94.00 and gave the company a “neutral” rating in a report on Tuesday, October 29th. Finally, Canaccord Genuity Group raised their target price on shares of Stride from $94.00 to $100.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, Stride presently has an average rating of “Moderate Buy” and a consensus target price of $90.17.

Stride Stock Up 4.1 %

The stock’s fifty day moving average price is $81.32 and its 200-day moving average price is $74.90. The company has a market capitalization of $4.30 billion, a price-to-earnings ratio of 17.23, a P/E/G ratio of 0.70 and a beta of 0.27. The company has a quick ratio of 5.50, a current ratio of 5.60 and a debt-to-equity ratio of 0.38.

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

Insider Activity at Stride

In other Stride news, Director Todd Goldthwaite sold 8,028 shares of the business’s 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 transaction, the director now owns 85,058 shares of the company’s stock, valued at $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 available through this link. Insiders own 3.00% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in LRN. Victory Capital Management Inc. increased its holdings in shares of Stride by 72.4% in the third quarter. Victory Capital Management Inc. now owns 827,505 shares of the company’s stock valued at $70,594,000 after purchasing an additional 347,564 shares during the last quarter. GSA Capital Partners LLP acquired a new stake in Stride during the third quarter worth approximately $513,000. Entropy Technologies LP bought a new stake in shares of Stride during the third quarter worth approximately $442,000. Crossmark Global Holdings Inc. grew its position in shares of Stride by 3.9% in the third quarter. Crossmark Global Holdings Inc. now owns 3,213 shares of the company’s stock valued at $274,000 after purchasing an additional 121 shares during the last quarter. Finally, Montanaro Asset Management Ltd increased its stake in shares of Stride by 20.2% during the third quarter. Montanaro Asset Management Ltd now owns 155,000 shares of the company’s stock worth $13,223,000 after purchasing an additional 26,000 shares during the period. 98.24% of the stock is currently owned by institutional investors.

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.