Stride (NYSE:LRN) Trading 5.9% Higher

Stride, Inc. (NYSE:LRN)’s stock price traded up 5.9% during trading on Friday . The company traded as high as $45.19 and last traded at $44.98. 268,019 shares traded hands during mid-day trading, a decline of 41% from the average session volume of 456,207 shares. The stock had previously closed at $42.49.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. Morgan Stanley lifted their price objective on shares of Stride from $50.00 to $52.00 and gave the stock an “equal weight” rating in a research note on Wednesday, August 16th. Barrington Research reissued an “outperform” rating and issued a $50.00 price objective on shares of Stride in a research note on Wednesday, August 16th. StockNews.com assumed coverage on shares of Stride in a research note on Thursday, August 17th. They issued a “buy” rating for the company. Finally, BMO Capital Markets lifted their price objective on shares of Stride from $49.00 to $50.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 16th.

Stride Stock Up 3.8 %

The company’s fifty day moving average price is $38.82 and its 200-day moving average price is $39.98. The stock has a market cap of $1.90 billion, a P/E ratio of 14.90, a price-to-earnings-growth ratio of 0.63 and a beta of 0.29. The company has a debt-to-equity ratio of 0.46, a quick ratio of 3.33 and a current ratio of 3.45.

Stride (NYSE:LRN) last released its earnings results on Tuesday, August 15th. The company reported $1.01 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.86 by $0.15. Stride had a net margin of 6.90% and a return on equity of 14.60%. The firm had revenue of $483.49 million during the quarter, compared to analyst estimates of $460.70 million. During the same quarter last year, the business earned $0.66 EPS. The business’s revenue was up 6.2% on a year-over-year basis. Equities analysts forecast that Stride, Inc. will post 3.27 EPS for the current year.

Institutional Investors Weigh In On Stride

A number of institutional investors and hedge funds have recently added to or reduced their stakes in LRN. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in Stride during the 1st quarter valued at about $22,914,000. Vanguard Group Inc. lifted its holdings in Stride by 11.3% during the 3rd quarter. Vanguard Group Inc. now owns 5,000,230 shares of the company’s stock valued at $210,160,000 after buying an additional 506,211 shares in the last quarter. Norges Bank purchased a new position in Stride during the 4th quarter valued at about $13,432,000. Polar Asset Management Partners Inc. purchased a new position in Stride during the 2nd quarter valued at about $12,722,000. Finally, Intrinsic Edge Capital Management LLC purchased a new position in Stride during the 1st quarter valued at about $10,819,000. Institutional investors own 98.24% of the company’s stock.

Stride Company Profile

Stride, Inc, a technology-based education service 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.