Stride (NYSE:LRN) Reaches New 52-Week High – Here’s Why

Stride, Inc. (NYSE:LRN)’s stock price hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $137.76 and last traded at $137.06, with a volume of 335230 shares trading hands. The stock had previously closed at $134.90.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on LRN. BMO Capital Markets raised their price target on Stride from $122.00 to $134.00 and gave the company an “outperform” rating in a research report on Thursday. StockNews.com downgraded Stride from a “buy” rating to a “hold” rating in a research report on Wednesday, October 23rd. Morgan Stanley raised their price target on Stride from $94.00 to $109.00 and gave the company an “equal weight” rating in a research report on Thursday, December 12th. Barrington Research raised their price target on Stride from $130.00 to $140.00 and gave the company an “outperform” rating in a research report on Wednesday, January 29th. Finally, Canaccord Genuity Group increased their target price on shares of Stride from $100.00 to $130.00 and gave the company a “buy” rating in a research note on Monday, January 27th. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Stride presently has a consensus rating of “Moderate Buy” and a consensus price target of $116.83.

Stride Trading Up 2.0 %

The company has a market cap of $5.99 billion, a price-to-earnings ratio of 22.97, a price-to-earnings-growth ratio of 1.01 and a beta of 0.32. The company’s fifty day moving average price is $110.56 and its two-hundred day moving average price is $92.58. The company has a quick ratio of 5.93, a current ratio of 6.02 and a debt-to-equity ratio of 0.35.

Stride (NYSE:LRN) last posted its quarterly earnings data on Tuesday, January 28th. The company reported $2.03 earnings per share for the quarter, topping the consensus estimate of $1.92 by $0.11. Stride had a net margin of 12.30% and a return on equity of 22.42%. Research analysts expect that Stride, Inc. will post 6.67 earnings per share for the current year.

Institutional Trading of Stride

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. R Squared Ltd acquired a new position in shares of Stride in the 4th quarter valued at $37,000. Mendota Financial Group LLC acquired a new position in Stride in the 3rd quarter worth $86,000. TD Private Client Wealth LLC boosted its stake in shares of Stride by 27.7% during the 3rd 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 last quarter. GAMMA Investing LLC boosted its stake in shares of Stride by 45.3% during the 3rd quarter. GAMMA Investing LLC now owns 2,061 shares of the company’s stock worth $176,000 after buying an additional 643 shares during the last quarter. Finally, Wolverine Asset Management LLC boosted its stake in shares of Stride by 11.3% during the 4th quarter. Wolverine Asset Management LLC now owns 1,800 shares of the company’s stock worth $187,000 after buying an additional 183 shares during the last quarter. Institutional investors and hedge funds 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.