Barrington Research Boosts Stride (NYSE:LRN) Price Target to $100.00

Stride (NYSE:LRN) had its price objective boosted by investment analysts at Barrington Research from $90.00 to $100.00 in a report issued on Wednesday, Benzinga reports. The firm presently has an “outperform” rating on the stock. Barrington Research’s target price points to a potential upside of 14.04% from the company’s previous close.

A number of other equities research analysts have also recently commented on LRN. Canaccord Genuity Group began coverage on shares of Stride in a research note on Thursday, August 8th. They set a “buy” rating and a $94.00 target price on the stock. StockNews.com upgraded shares of Stride from a “hold” rating to a “buy” rating in a research note on Friday, August 9th. BMO Capital Markets raised their target price on shares of Stride from $79.00 to $82.00 and gave the stock an “outperform” rating in a research note on Thursday, August 8th. Citigroup cut shares of Stride from a “buy” rating to a “neutral” rating and lifted their price objective for the company from $77.00 to $90.00 in a research report on Tuesday, August 20th. Finally, Canaccord Genuity Group lifted their price objective on shares of Stride from $94.00 to $100.00 and gave the company a “buy” rating in a research report on Wednesday. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $88.50.

Stride Stock Up 36.0 %

LRN stock traded up $23.20 during trading on Wednesday, hitting $87.69. 6,197,464 shares of the stock traded hands, compared to its average volume of 810,080. Stride has a 1 year low of $43.90 and a 1 year high of $88.61. The firm’s 50 day moving average is $79.16 and its two-hundred day moving average is $72.54. The stock has a market cap of $3.79 billion, a price-to-earnings ratio of 20.63, a price-to-earnings-growth ratio of 0.74 and a beta of 0.26. The company has a debt-to-equity ratio of 0.38, a current ratio of 5.10 and a quick ratio of 4.95.

Stride (NYSE:LRN) last announced its quarterly earnings results on Tuesday, October 22nd. The company reported $0.94 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.22 by $0.72. The firm had revenue of $551.08 million for the quarter, compared to the consensus estimate of $504.29 million. Stride had a net margin of 10.01% and a return on equity of 19.12%. The business’s quarterly revenue was up 14.8% compared to the same quarter last year. During the same quarter last year, the firm posted $0.11 EPS. On average, sell-side analysts anticipate that Stride will post 5.05 EPS for the current year.

Institutional Investors Weigh In On Stride

A number of large investors have recently modified their holdings of LRN. Allspring Global Investments Holdings LLC grew its stake in shares of Stride by 4.6% during the first quarter. Allspring Global Investments Holdings LLC now owns 29,018 shares of the company’s stock worth $1,830,000 after acquiring an additional 1,287 shares during the last quarter. Principal Financial Group Inc. raised its stake in shares of Stride by 5.2% during the 1st quarter. Principal Financial Group Inc. now owns 231,274 shares of the company’s stock worth $14,582,000 after buying an additional 11,495 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Stride by 17.0% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 31,262 shares of the company’s stock worth $1,971,000 after buying an additional 4,546 shares during the period. Nordea Investment Management AB raised its stake in shares of Stride by 48.9% during the 1st quarter. Nordea Investment Management AB now owns 105,630 shares of the company’s stock worth $6,698,000 after buying an additional 34,682 shares during the period. Finally, Texas Permanent School Fund Corp raised its stake in shares of Stride by 1.4% during the 1st quarter. Texas Permanent School Fund Corp now owns 34,831 shares of the company’s stock worth $2,196,000 after buying an additional 496 shares during the period. Hedge funds and other institutional investors own 98.24% of the company’s stock.

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.