Brokerages Set Stride, Inc. (NYSE:LRN) Price Target at $97.50

Shares of Stride, Inc. (NYSE:LRN) have been given a consensus recommendation of “Moderate Buy” by the seven brokerages that are currently covering the firm, Marketbeat.com reports. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $102.50.

A number of research analysts recently weighed in on LRN shares. Morgan Stanley raised their price target on shares of Stride from $94.00 to $109.00 and gave the company an “equal weight” rating in a research note on Thursday, December 12th. Citigroup boosted their price target on Stride from $90.00 to $94.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 29th. Canaccord Genuity Group raised their price objective on Stride from $94.00 to $100.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Barrington Research upped their target price on shares of Stride from $100.00 to $130.00 and gave the stock an “outperform” rating in a report on Friday. Finally, StockNews.com downgraded shares of Stride from a “buy” rating to a “hold” rating in a research note on Wednesday, October 23rd.

Stride Trading Up 0.8 %

Shares of LRN stock opened at $113.90 on Monday. Stride has a 1-year low of $54.81 and a 1-year high of $115.42. The company has a market cap of $4.96 billion, a price-to-earnings ratio of 20.71, a PEG ratio of 0.84 and a beta of 0.32. The company has a debt-to-equity ratio of 0.38, a current ratio of 5.60 and a quick ratio of 5.50. The stock has a 50 day simple moving average of $106.47 and a 200-day simple moving average of $88.80.

Stride (NYSE:LRN) last posted its quarterly earnings data on Tuesday, October 22nd. The company reported $0.94 earnings per share for the quarter, topping analysts’ consensus estimates of $0.22 by $0.72. Stride had a net margin of 11.38% and a return on equity of 21.23%. The company had revenue of $551.08 million during the quarter, compared to analysts’ expectations of $504.29 million. During the same period in the prior year, the business posted $0.11 earnings per share. The firm’s revenue for the quarter was up 14.8% on a year-over-year basis. On average, equities research analysts expect that Stride will post 6.64 EPS for the current fiscal year.

Insider Activity

In other Stride news, Director Todd Goldthwaite sold 8,028 shares of the firm’s stock in a transaction on Friday, October 25th. The stock was sold at an average price of $91.54, for a total transaction of $734,883.12. Following the completion of the sale, the director now owns 85,058 shares of the company’s stock, valued at $7,786,209.32. This trade represents a 8.62 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 3.00% of the company’s stock.

Hedge Funds Weigh In On Stride

A number of hedge funds have recently modified their holdings of the business. Mendota Financial Group LLC acquired a new position in Stride in the third quarter valued at about $86,000. TD Private Client Wealth LLC raised its stake in shares of Stride by 27.7% in the 3rd quarter. TD Private Client Wealth LLC now owns 1,962 shares of the company’s stock valued at $167,000 after acquiring an additional 426 shares during the period. Sheets Smith Wealth Management acquired a new position in shares of Stride in the 4th quarter worth approximately $205,000. GAMMA Investing LLC boosted its position 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 purchasing an additional 643 shares during the period. Finally, Central Pacific Bank Trust Division increased its holdings in Stride by 24.2% in the 3rd quarter. Central Pacific Bank Trust Division now owns 2,153 shares of the company’s stock valued at $184,000 after purchasing an additional 420 shares during the last quarter. 98.24% of the stock is currently owned by hedge funds and other institutional investors.

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.