Stride (NYSE:LRN) Rating Lowered to “Market Perform” at William Blair

Stride (NYSE:LRNGet Free Report) was downgraded by investment analysts at William Blair from an “outperform” rating to a “market perform” rating in a research note issued to investors on Thursday, MarketBeat reports.

LRN has been the subject of several other research reports. BMO Capital Markets reissued a “market perform” rating on shares of Stride in a research report on Monday, June 15th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Stride in a research note on Wednesday, July 8th. Finally, Barrington Research reiterated an “outperform” rating and set a $125.00 target price on shares of Stride in a report on Thursday, April 16th. Two investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $109.75.

Check Out Our Latest Analysis on Stride

Stride Stock Down 14.7%

Shares of NYSE:LRN traded down $14.37 during trading on Thursday, hitting $83.34. 1,858,773 shares of the company’s stock traded hands, compared to its average volume of 953,423. The company has a current ratio of 6.21, a quick ratio of 6.14 and a debt-to-equity ratio of 0.29. The company has a 50-day moving average price of $90.04 and a 200-day moving average price of $87.42. Stride has a 52 week low of $60.61 and a 52 week high of $171.17. The company has a market cap of $3.54 billion, a price-to-earnings ratio of 12.86, a price-to-earnings-growth ratio of 0.54 and a beta of 0.10.

Stride (NYSE:LRNGet Free Report) last announced its earnings results on Tuesday, April 28th. The company reported $2.30 EPS for the quarter, topping the consensus estimate of $2.21 by $0.09. The firm had revenue of $629.87 million for the quarter, compared to the consensus estimate of $629.69 million. Stride had a net margin of 12.15% and a return on equity of 25.20%. The business’s quarterly revenue was up 2.7% on a year-over-year basis. During the same period last year, the company posted $2.02 EPS. As a group, research analysts forecast that Stride will post 8.21 EPS for the current fiscal year.

Institutional Trading of Stride

A number of institutional investors have recently made changes to their positions in LRN. Vanguard Group Inc. boosted its holdings in Stride by 7.5% during the fourth quarter. Vanguard Group Inc. now owns 4,883,571 shares of the company’s stock worth $317,090,000 after purchasing an additional 340,838 shares during the last quarter. Janus Henderson Group PLC increased its stake in Stride by 61.0% in the 1st quarter. Janus Henderson Group PLC now owns 2,277,279 shares of the company’s stock valued at $200,799,000 after buying an additional 862,849 shares during the last quarter. Invesco Ltd. lifted its position in Stride by 1.3% during the 3rd quarter. Invesco Ltd. now owns 1,805,508 shares of the company’s stock worth $268,912,000 after buying an additional 23,488 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in Stride by 5.5% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,750,646 shares of the company’s stock worth $154,339,000 after buying an additional 90,851 shares in the last quarter. Finally, Morgan Stanley boosted its stake in shares of Stride by 98.1% during the 4th quarter. Morgan Stanley now owns 1,631,570 shares of the company’s stock worth $105,938,000 after buying an additional 808,141 shares during the last quarter. Institutional investors own 98.24% of the company’s stock.

About Stride

(Get Free Report)

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.

Further Reading

Analyst Recommendations for Stride (NYSE:LRN)

Receive News & Ratings for Stride Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Stride and related companies with MarketBeat.com's FREE daily email newsletter.