Stride (NYSE:LRN) Sets New 1-Year High After Better-Than-Expected Earnings

Stride, Inc. (NYSE:LRN) hit a new 52-week high during mid-day trading on Wednesday after the company announced better than expected quarterly earnings. The company traded as high as $80.09 and last traded at $79.86, with a volume of 84035 shares trading hands. The stock had previously closed at $71.42.

The company reported $1.42 earnings per share for the quarter, topping analysts’ consensus estimates of $1.30 by $0.12. The company had revenue of $534.18 million for the quarter, compared to the consensus estimate of $525.89 million. Stride had a net margin of 9.29% and a return on equity of 18.29%. The firm’s quarterly revenue was up 10.5% on a year-over-year basis. During the same period in the previous year, the firm earned $1.01 EPS.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on LRN shares. StockNews.com cut Stride from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. BMO Capital Markets boosted their price objective on Stride from $72.00 to $73.00 and gave the company an “outperform” rating in a research note on Thursday, April 25th. Finally, Barrington Research boosted their price objective on Stride from $75.00 to $85.00 and gave the company an “outperform” rating in a research note on Wednesday, July 31st. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $74.50.

Institutional Trading of Stride

Several hedge funds and other institutional investors have recently bought and sold shares of LRN. Strs Ohio bought a new position in Stride in the fourth quarter worth $47,000. GAMMA Investing LLC purchased a new position in Stride in the fourth quarter worth about $65,000. Quadrant Capital Group LLC lifted its position in shares of Stride by 76.7% during the 4th quarter. Quadrant Capital Group LLC now owns 1,113 shares of the company’s stock valued at $66,000 after buying an additional 483 shares in the last quarter. Motco purchased a new position in shares of Stride during the 1st quarter valued at about $74,000. Finally, EntryPoint Capital LLC purchased a new position in shares of Stride during the 1st quarter valued at about $77,000. Hedge funds and other institutional investors own 98.24% of the company’s stock.

Stride Trading Up 10.6 %

The company has a debt-to-equity ratio of 0.40, a quick ratio of 4.21 and a current ratio of 4.29. The stock has a market capitalization of $3.42 billion, a PE ratio of 18.75, a PEG ratio of 0.74 and a beta of 0.28. The stock has a 50-day moving average price of $69.83 and a two-hundred day moving average price of $65.32.

Stride Company Profile

Stride, Inc, a technology-based education service company, provides proprietary and third-party online curriculum, software systems, and educational services to facilitate individualized learning for students primarily in kindergarten through 12th grade (K-12) in the United States and internationally.