Stride (NYSE:LRN – Get Free Report) was upgraded by investment analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a research report issued on Saturday, Wall Street Zen reports.
Several other analysts have also recently commented on the stock. BMO Capital Markets dropped their target price on shares of Stride from $93.00 to $90.00 and set a “market perform” rating for the company in a research report on Monday, October 5th. Barrington Research reduced their price target on Stride from $125.00 to $115.00 and set an “outperform” rating on the stock in a research report on Friday, October 23rd. William Blair cut Stride from an “outperform” rating to a “market perform” rating in a research note on Thursday, July 30th. Weiss Ratings upgraded Stride from a “hold (c)” rating to a “hold (c+)” rating in a report on Friday, October 16th. Finally, Zacks Research upgraded Stride from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 28th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat, Stride presently has an average rating of “Moderate Buy” and an average price target of $106.25.
Get Our Latest Research Report on Stride
Stride Stock Up 0.1%
Shares of NYSE:LRN opened at $75.09 on Friday. Stride has a one year low of $60.61 and a one year high of $103.67. The company has a 50 day moving average of $80.56 and a 200-day moving average of $85.91. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.56 and a quick ratio of 2.53. The stock has a market cap of $3.16 billion, a price-to-earnings ratio of 10.36, a P/E/G ratio of 0.41 and a beta of 0.16.
Stride (NYSE:LRN – Get Free Report) last posted its quarterly earnings results on Tuesday, October 20th. The company reported $1.37 earnings per share for the quarter, topping analysts’ consensus estimates of $1.07 by $0.30. Stride had a net margin of 13.18% and a return on equity of 22.06%. The business had revenue of $639.38 million during the quarter, compared to the consensus estimate of $612.25 million. During the same period in the previous year, the firm posted $1.40 earnings per share. Stride’s revenue for the quarter was up 3.0% compared to the same quarter last year. On average, sell-side analysts forecast that Stride will post 9.04 earnings per share for the current year.
Insider Buying and Selling
In other news, Director Brian A. Shepherd acquired 12,000 shares of the firm’s stock in a transaction that occurred on Monday, November 2nd. The stock was purchased at an average price of $76.69 per share, for a total transaction of $920,280.00. Following the completion of the acquisition, the director owned 13,094 shares in the company, valued at $1,004,178.86. This trade represents a 1,096.89% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Dylan Haggart bought 137,500 shares of the stock in a transaction on Monday, November 2nd. The stock was purchased at an average cost of $77.12 per share, with a total value of $10,604,000.00. Following the purchase, the director directly owned 2,091,403 shares of the company’s stock, valued at approximately $161,288,999.36. This represents a 7.04% increase in their position. The disclosure for this purchase is available in the SEC filing. In the last 90 days, insiders have purchased 405,045 shares of company stock valued at $31,483,496. Corporate insiders own 4.90% of the company’s stock.
Hedge Funds Weigh In On Stride
Several institutional investors and hedge funds have recently made changes to their positions in the company. Janus Henderson Group PLC lifted its position 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 acquiring an additional 862,849 shares in the last quarter. Jupiter Topco LLC bought a new position in Stride during the 2nd quarter worth about $199,715,000. Dimensional Fund Advisors LP increased its holdings 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 purchasing an additional 90,851 shares in the last quarter. Aberdeen Group plc acquired a new stake in shares of Stride in the 3rd quarter valued at about $135,610,000. Finally, Principal Financial Group Inc. raised its stake in shares of Stride by 40.8% in the 1st quarter. Principal Financial Group Inc. now owns 1,034,047 shares of the company’s stock valued at $91,172,000 after purchasing an additional 299,756 shares during the period. Institutional investors and hedge funds own 98.24% of the company’s stock.
Stride Company Profile
Stride, Inc is an education technology company that provides online and blended learning programs, curriculum, and related services. Its offerings support students from kindergarten through high school, as well as learners pursuing career-focused education.
The company works with public school districts and other education partners to deliver virtual and hybrid instruction. Its programs include online courses, teacher-led instruction, and career learning pathways designed to help students build skills for further education and employment.
Stride was formerly known as K12 Inc and adopted its current name in 2020.
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