StockNews.com Downgrades Stride (NYSE:LRN) to Hold

StockNews.com cut shares of Stride (NYSE:LRN) from a buy rating to a hold rating in a research report report published on Wednesday morning.

Several other brokerages have also recently weighed in on LRN. Canaccord Genuity Group upped their price target on Stride from $94.00 to $100.00 and gave the company a “buy” rating in a research report on Wednesday. Canaccord Genuity Group began coverage on shares of Stride in a research report on Thursday, August 8th. They set a “buy” rating and a $94.00 price target for the company. Barrington Research increased their price objective on Stride from $90.00 to $100.00 and gave the stock an “outperform” rating in a research report on Wednesday. BMO Capital Markets lifted their price objective on Stride from $79.00 to $82.00 and gave the company an “outperform” rating in a research note on Thursday, August 8th. Finally, Citigroup lowered Stride from a “buy” rating to a “neutral” rating and upped their target price for the stock from $77.00 to $90.00 in a research note on Tuesday, August 20th. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $89.50.

Stride Stock Performance

Shares of LRN stock opened at $91.25 on Wednesday. The firm’s 50 day moving average is $79.68 and its 200 day moving average is $73.09. The stock has a market capitalization of $3.95 billion, a P/E ratio of 21.42, a PEG ratio of 0.64 and a beta of 0.26. Stride has a 12 month low of $51.75 and a 12 month high of $92.75. The company has a current ratio of 5.10, a quick ratio of 4.95 and a debt-to-equity ratio of 0.38.

Stride (NYSE:LRN) last posted its earnings results on Tuesday, October 22nd. The company reported $0.94 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.22 by $0.72. Stride had a return on equity of 21.76% and a net margin of 11.38%. The firm had revenue of $551.08 million for the quarter, compared to the consensus estimate of $504.29 million. During the same quarter in the prior year, the business posted $0.11 earnings per share. The business’s quarterly revenue was up 14.8% on a year-over-year basis. On average, sell-side analysts anticipate that Stride will post 5.04 earnings per share for the current year.

Institutional Investors Weigh In On Stride

Several hedge funds have recently added to or reduced their stakes in the company. Motco purchased a new position in shares of Stride during the 1st quarter valued at about $74,000. EntryPoint Capital LLC purchased a new position in shares of Stride during the first quarter worth approximately $77,000. nVerses Capital LLC bought a new stake in shares of Stride in the 2nd quarter worth approximately $78,000. Mendota Financial Group LLC purchased a new stake in shares of Stride in the 3rd quarter valued at $86,000. Finally, Advisors Asset Management Inc. grew its holdings in shares of Stride by 38.0% during the 1st quarter. Advisors Asset Management Inc. now owns 2,740 shares of the company’s stock valued at $173,000 after purchasing an additional 754 shares during the last quarter. Institutional investors 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.