Barrington Research Reiterates Outperform Rating for Stride (NYSE:LRN)

Stride (NYSE:LRN)‘s stock had its “outperform” rating reissued by equities research analysts at Barrington Research in a report released on Wednesday, Benzinga reports. They currently have a $75.00 price target on the stock. Barrington Research’s target price suggests a potential upside of 31.03% from the company’s previous close.

A number of other brokerages have also recently commented on LRN. Wedbush reissued an “outperform” rating on shares of Stride in a research note on Wednesday, January 24th. StockNews.com raised shares of Stride from a “hold” rating to a “buy” rating in a research note on Tuesday, April 2nd. Morgan Stanley increased their price objective on shares of Stride from $60.00 to $65.00 and gave the company an “equal weight” rating in a research note on Wednesday, January 24th. BMO Capital Markets increased their price objective on shares of Stride from $71.00 to $72.00 and gave the company an “outperform” rating in a research note on Thursday, January 25th. Finally, Citigroup increased their price objective on shares of Stride from $70.00 to $75.00 and gave the company a “buy” rating in a research note on Monday, January 29th. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $71.75.

Stride Stock Performance

Shares of LRN opened at $57.24 on Wednesday. The company has a 50-day simple moving average of $60.50 and a 200-day simple moving average of $57.81. The company has a quick ratio of 4.44, a current ratio of 4.52 and a debt-to-equity ratio of 0.43. The company has a market capitalization of $2.48 billion, a PE ratio of 14.45, a P/E/G ratio of 0.67 and a beta of 0.26. Stride has a 52-week low of $35.61 and a 52-week high of $69.70.

Stride (NYSE:LRN) last announced its quarterly earnings results on Tuesday, January 23rd. The company reported $1.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.31 by $0.23. The business had revenue of $504.87 million during the quarter, compared to the consensus estimate of $498.05 million. Stride had a net margin of 8.80% and a return on equity of 17.77%. The business’s revenue was up 10.1% compared to the same quarter last year. During the same quarter last year, the firm posted $1.19 EPS. Equities research analysts predict that Stride will post 4.31 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Stride

Several hedge funds have recently modified their holdings of LRN. Advisor Group Holdings Inc. boosted its stake in shares of Stride by 40.5% during the 1st quarter. Advisor Group Holdings Inc. now owns 2,050 shares of the company’s stock worth $120,000 after purchasing an additional 591 shares during the last quarter. JPMorgan Chase & Co. boosted its position in shares of Stride by 26.2% in the first quarter. JPMorgan Chase & Co. now owns 228,997 shares of the company’s stock worth $8,321,000 after acquiring an additional 47,583 shares during the last quarter. Raymond James & Associates boosted its position in shares of Stride by 9.2% in the first quarter. Raymond James & Associates now owns 9,637 shares of the company’s stock worth $350,000 after acquiring an additional 814 shares during the last quarter. PNC Financial Services Group Inc. boosted its position in shares of Stride by 14.8% in the first quarter. PNC Financial Services Group Inc. now owns 5,445 shares of the company’s stock worth $198,000 after acquiring an additional 700 shares during the last quarter. Finally, MetLife Investment Management LLC boosted its position in shares of Stride by 52.5% in the first quarter. MetLife Investment Management LLC now owns 23,353 shares of the company’s stock worth $848,000 after acquiring an additional 8,035 shares during the last quarter. 98.24% of the stock is owned by institutional investors and hedge funds.

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.