Stride (NYSE:LRN) Sets New 52-Week High – Should You Buy?

Stride, Inc. (NYSE:LRN)’s share price hit a new 52-week high on Friday . The company traded as high as $112.93 and last traded at $112.72, with a volume of 305181 shares changing hands. The stock had previously closed at $109.02.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the stock. BMO Capital Markets boosted their price objective on shares of Stride from $84.00 to $88.00 and gave the stock an “outperform” rating in a report on Thursday, October 24th. Morgan Stanley upped their price target on Stride from $94.00 to $109.00 and gave the company an “equal weight” rating in a report on Thursday, December 12th. Citigroup boosted their price objective on Stride from $90.00 to $94.00 and gave the company a “neutral” rating in a research report on Tuesday, October 29th. Barrington Research raised their target price on Stride from $90.00 to $100.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 23rd. Finally, Canaccord Genuity Group boosted their price target on shares of Stride from $94.00 to $100.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Three analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, Stride currently has an average rating of “Moderate Buy” and an average target price of $97.50.

Stride Price Performance

The company’s 50 day moving average price is $105.10 and its 200 day moving average price is $87.18. The company has a debt-to-equity ratio of 0.38, a quick ratio of 5.50 and a current ratio of 5.60. The company has a market cap of $4.86 billion, a price-to-earnings ratio of 20.26, a P/E/G ratio of 0.80 and a beta of 0.32.

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

Insiders Place Their Bets

In related news, Director Todd Goldthwaite sold 8,028 shares of Stride stock in a transaction dated Friday, October 25th. The stock was sold at an average price of $91.54, for a total value of $734,883.12. Following the completion of the transaction, the director now directly owns 85,058 shares of the company’s stock, valued at $7,786,209.32. The trade was a 8.62 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 3.00% of the company’s stock.

Hedge Funds Weigh In On Stride

Institutional investors have recently modified their holdings of the stock. Mendota Financial Group LLC acquired a new stake in shares of Stride in the third quarter valued at approximately $86,000. TD Private Client Wealth LLC increased 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 buying an additional 426 shares during the period. GAMMA Investing LLC raised its position in shares of Stride by 45.3% during the third quarter. GAMMA Investing LLC now owns 2,061 shares of the company’s stock worth $176,000 after acquiring an additional 643 shares during the last quarter. Central Pacific Bank Trust Division lifted its stake in shares of Stride by 24.2% during the third quarter. Central Pacific Bank Trust Division now owns 2,153 shares of the company’s stock valued at $184,000 after acquiring an additional 420 shares during the period. Finally, Retirement Guys Formula LLC acquired a new stake in Stride in the third quarter worth about $203,000. 98.24% of the stock is owned by institutional investors.

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.