Stride (NYSE:LRN) Hits New 1-Year High – Here’s Why

Stride, Inc. (NYSE:LRN) shares hit a new 52-week high during trading on Friday . The company traded as high as $112.93 and last traded at $112.72, with a volume of 305181 shares. The stock had previously closed at $109.02.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. Canaccord Genuity Group raised their target price on Stride from $94.00 to $100.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Morgan Stanley upped their target price 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. Barrington Research raised their price target on shares of Stride from $90.00 to $100.00 and gave the company an “outperform” rating in a research report on Wednesday, October 23rd. StockNews.com downgraded shares of Stride from a “buy” rating to a “hold” rating in a research report on Wednesday, October 23rd. Finally, Citigroup lifted their target price on shares of Stride from $90.00 to $94.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 29th. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, Stride currently has a consensus rating of “Moderate Buy” and a consensus target price of $97.50.

Stride Price Performance

The company has a current ratio of 5.60, a quick ratio of 5.50 and a debt-to-equity ratio of 0.38. The business’s fifty day moving average is $104.74 and its 200 day moving average is $86.77. The company has a market cap of $4.97 billion, a P/E ratio of 20.72, a PEG ratio of 0.80 and a beta of 0.32.

Stride (NYSE:LRN) last announced its quarterly earnings data on Tuesday, October 22nd. The company reported $0.94 earnings per share for the quarter, topping the consensus estimate of $0.22 by $0.72. The company had revenue of $551.08 million during the quarter, compared to analyst estimates of $504.29 million. Stride had a return on equity of 21.23% and a net margin of 11.38%. The firm’s revenue for the quarter was up 14.8% on a year-over-year basis. During the same quarter last year, the firm posted $0.11 EPS. As a group, sell-side analysts anticipate that Stride, Inc. will post 6.64 EPS for the current year.

Insider Activity

In related news, Director Todd Goldthwaite sold 8,028 shares of the stock in a transaction on Friday, October 25th. The stock was sold at an average price of $91.54, for a total value of $734,883.12. Following the sale, the director now owns 85,058 shares in the company, valued at approximately $7,786,209.32. This trade represents a 8.62 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 3.00% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the business. Mendota Financial Group LLC bought a new stake in Stride in the 3rd quarter worth approximately $86,000. TD Private Client Wealth LLC increased its stake in shares of Stride by 27.7% in the third quarter. TD Private Client Wealth LLC now owns 1,962 shares of the company’s stock worth $167,000 after buying an additional 426 shares during the period. GAMMA Investing LLC raised its holdings in Stride by 45.3% during the 3rd quarter. GAMMA Investing LLC now owns 2,061 shares of the company’s stock valued at $176,000 after buying an additional 643 shares during the last quarter. Central Pacific Bank Trust Division boosted its position in Stride by 24.2% during the 3rd quarter. Central Pacific Bank Trust Division now owns 2,153 shares of the company’s stock valued at $184,000 after buying an additional 420 shares during the period. Finally, Retirement Guys Formula LLC bought a new stake in Stride in the 3rd quarter worth $203,000. Hedge funds and other institutional investors own 98.24% of the company’s stock.

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.