Stride (NYSE:LRN) Stock Rating Lowered by Citigroup

Citigroup downgraded shares of Stride (NYSE:LRN) from a buy rating to a neutral rating in a report issued on Tuesday, Marketbeat reports. Citigroup currently has $90.00 price target on the stock, up from their prior price target of $77.00.

Several other equities analysts have also weighed in on the company. Barrington Research increased their price objective on Stride from $85.00 to $90.00 and gave the company an outperform rating in a report on Thursday, August 8th. Canaccord Genuity Group began coverage on Stride in a research note on Thursday, August 8th. They issued a buy rating and a $94.00 price objective on the stock. BMO Capital Markets upped their price objective on shares of Stride from $79.00 to $82.00 and gave the company an outperform rating in a report on Thursday, August 8th. StockNews.com upgraded shares of Stride from a hold rating to a buy rating in a research note on Friday, August 9th. Finally, 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 on the stock. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of Moderate Buy and an average target price of $85.83.

Stride Stock Up 2.1 %

Shares of NYSE:LRN opened at $81.49 on Tuesday. Stride has a 1 year low of $40.77 and a 1 year high of $83.97. The company has a market capitalization of $3.52 billion, a PE ratio of 19.13, a price-to-earnings-growth ratio of 0.74 and a beta of 0.28. The business has a fifty day moving average price of $73.13 and a two-hundred day moving average price of $67.12. The company has a debt-to-equity ratio of 0.40, a current ratio of 4.29 and a quick ratio of 4.21.

Stride (NYSE:LRN) last posted its quarterly earnings data on Tuesday, August 6th. The company reported $1.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.27 by $0.15. The business had revenue of $534.18 million during 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% compared to the same quarter last year. During the same quarter last year, the company posted $1.01 earnings per share. Analysts forecast that Stride will post 4.55 earnings per share for the current year.

Institutional Trading of Stride

Several hedge funds have recently added to or reduced their stakes in LRN. Susquehanna Fundamental Investments LLC bought a new position in shares of Stride during the second quarter valued at about $374,000. The Manufacturers Life Insurance Company increased its stake in Stride by 3.6% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 23,851 shares of the company’s stock worth $1,681,000 after purchasing an additional 822 shares during the period. Marshall Wace LLP bought a new stake in Stride in the second quarter valued at approximately $230,000. Public Sector Pension Investment Board boosted its stake in shares of Stride by 7.7% during the second quarter. Public Sector Pension Investment Board now owns 87,860 shares of the company’s stock valued at $6,194,000 after purchasing an additional 6,282 shares during the period. Finally, Hancock Whitney Corp bought a new position in shares of Stride in the second quarter worth approximately $205,000. 98.24% of the stock is owned by institutional investors.

About Stride

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.