Stride (NYSE:LRN) Lifted to “Buy” at StockNews.com

Stride (NYSE:LRN – Get Rating) was upgraded by StockNews.com from a “hold” rating to a “buy” rating in a research note issued to investors on Friday.

LRN has been the subject of several other reports. Zacks Investment Research upgraded shares of Stride from a “hold” rating to a “buy” rating and set a $45.00 price objective for the company in a research note on Friday. Barrington Research boosted their price objective on Stride from $45.00 to $50.00 in a report on Wednesday. Finally, Morgan Stanley upped their price target on Stride from $36.00 to $39.00 and gave the stock an “equal weight” rating in a report on Wednesday.

Shares of NYSE:LRN traded down $0.36 during mid-day trading on Friday, reaching $36.85. 849,468 shares of the company traded hands, compared to its average volume of 544,419. The company’s 50 day moving average price is $34.51 and its 200-day moving average price is $34.03. The firm has a market cap of $1.58 billion, a PE ratio of 22.07, a PEG ratio of 0.72 and a beta of 0.45. Stride has a 52 week low of $25.55 and a 52 week high of $41.20. The company has a debt-to-equity ratio of 0.62, a current ratio of 3.43 and a quick ratio of 3.33.

Stride (NYSE:LRN – Get Rating) last released its earnings results on Tuesday, April 19th. The company reported $1.02 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.84 by $0.18. Stride had a net margin of 4.40% and a return on equity of 9.25%. The firm had revenue of $421.72 million during the quarter, compared to analyst estimates of $410.73 million. During the same quarter last year, the business earned $0.57 EPS. The business’s revenue was up 7.5% on a year-over-year basis. On average, research analysts predict that Stride will post 2.4 earnings per share for the current fiscal year.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Counterpoint Mutual Funds LLC acquired a new position in Stride in the fourth quarter valued at approximately $26,000. Signaturefd LLC increased its holdings in shares of Stride by 553.9% in the fourth quarter. Signaturefd LLC now owns 1,092 shares of the company’s stock valued at $36,000 after buying an additional 925 shares in the last quarter. Daiwa Securities Group Inc. increased its holdings in shares of Stride by 89.2% in the third quarter. Daiwa Securities Group Inc. now owns 1,845 shares of the company’s stock valued at $66,000 after buying an additional 870 shares in the last quarter. Point72 Hong Kong Ltd increased its holdings in shares of Stride by 401.1% in the fourth quarter. Point72 Hong Kong Ltd now owns 2,185 shares of the company’s stock valued at $73,000 after buying an additional 1,749 shares in the last quarter. Finally, Advisor Group Holdings Inc. increased its holdings in shares of Stride by 64.4% in the third quarter. Advisor Group Holdings Inc. now owns 2,803 shares of the company’s stock valued at $100,000 after buying an additional 1,098 shares in the last quarter. 87.62% of the stock is currently owned by institutional investors and hedge funds.

About Stride (Get Rating)

Stride, Inc, a technology-based education company, provides proprietary and third-party online curriculum, software systems, and educational services to facilitate individualized learning for students primarily in kindergarten through 12th grade (K-12) in the United States and internationally. Its technology-based products and services enable clients to attract, enroll, educate, track progress, and support students.

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