Barrington Research Reiterates Outperform Rating for Stride (NYSE:LRN)

Stride (NYSE:LRN)‘s stock had its “outperform” rating restated by equities research analysts at Barrington Research in a report issued on Wednesday,Benzinga reports. They presently have a $125.00 price target on the stock. Barrington Research’s price target indicates a potential upside of 79.97% from the company’s current price.

Several other equities analysts also recently issued reports on the stock. Wall Street Zen raised shares of Stride from a “hold” rating to a “buy” rating in a research note on Monday, January 5th. Canaccord Genuity Group increased their target price on shares of Stride from $165.00 to $175.00 and gave the stock a “buy” rating in a research note on Friday, October 24th. Zacks Research lowered Stride from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 30th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Stride in a report on Monday, December 29th. Finally, Morgan Stanley decreased their price target on Stride from $130.00 to $95.00 and set an “equal weight” rating for the company in a report on Wednesday, December 17th. Three equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $125.75.

Stride Stock Down 0.4%

Shares of NYSE:LRN opened at $69.46 on Wednesday. Stride has a 52-week low of $60.61 and a 52-week high of $171.17. The company has a market capitalization of $3.05 billion, a PE ratio of 10.72, a price-to-earnings-growth ratio of 0.42 and a beta of 0.06. The company has a debt-to-equity ratio of 0.32, a quick ratio of 6.69 and a current ratio of 6.78. The company has a fifty day moving average of $65.49 and a 200-day moving average of $112.89.

Stride (NYSE:LRN) last issued its quarterly earnings data on Tuesday, October 28th. The company reported $1.52 earnings per share for the quarter, topping analysts’ consensus estimates of $1.23 by $0.29. The business had revenue of $620.88 million for the quarter, compared to analyst estimates of $615.50 million. Stride had a return on equity of 26.29% and a net margin of 12.76%.Stride’s quarterly revenue was up 12.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.94 EPS. On average, equities analysts predict that Stride will post 6.67 EPS for the current fiscal year.

Hedge Funds Weigh In On Stride

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Asset Management One Co. Ltd. raised its stake in shares of Stride by 33.8% during the 2nd quarter. Asset Management One Co. Ltd. now owns 43,033 shares of the company’s stock valued at $6,248,000 after purchasing an additional 10,870 shares during the period. SG Capital Management LLC purchased a new position in Stride during the 2nd quarter valued at about $5,859,000. Invesco Ltd. increased its position in shares of Stride by 10.3% during the second quarter. Invesco Ltd. now owns 1,782,020 shares of the company’s stock valued at $258,731,000 after buying an additional 165,775 shares during the period. Norges Bank purchased a new stake in shares of Stride in the second quarter worth about $92,858,000. Finally, Convergence Investment Partners LLC purchased a new stake in shares of Stride in the second quarter worth about $865,000. Institutional investors own 98.24% of the company’s stock.

Stride Company Profile

Stride, Inc (NYSE:LRN) is a technology-driven education company that designs and delivers online learning solutions for students and adult learners. Through long-term partnerships with state-authorized public school districts, Stride operates virtual academies that serve K-12 students across the United States. The company’s blended-learning model combines digital curriculum, live teaching support and data analytics to personalize instruction and monitor student progress.

In addition to its K-12 offerings, Stride provides a portfolio of career and workforce readiness programs under its Stride Career Prep division.