Stride (NYSE:LRN) Rating Increased to Buy at Wall Street Zen

Stride (NYSE:LRN) was upgraded by research analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a research report issued on Saturday.

LRN has been the subject of a number of other research reports. BMO Capital Markets restated an “outperform” rating on shares of Stride in a research report on Thursday, May 1st. William Blair restated an “outperform” rating on shares of Stride in a research report on Wednesday, April 30th. Barrington Research boosted their price objective on Stride from $150.00 to $170.00 and gave the company an “outperform” rating in a research report on Wednesday, April 30th. Finally, Canaccord Genuity Group boosted their price objective on Stride from $145.00 to $155.00 and gave the company a “buy” rating in a research report on Monday, April 28th. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $126.83.

Stride Stock Up 0.7%

Shares of NYSE LRN opened at $145.87 on Friday. Stride has a 12 month low of $63.25 and a 12 month high of $162.30. The company has a current ratio of 5.61, a quick ratio of 5.53 and a debt-to-equity ratio of 0.33. The firm has a market capitalization of $6.35 billion, a price-to-earnings ratio of 22.76, a PEG ratio of 1.02 and a beta of 0.35. The business has a 50-day moving average of $147.30 and a 200-day moving average of $130.88.

Stride (NYSE:LRN) last issued its quarterly earnings data on Tuesday, April 29th. The company reported $2.02 EPS for the quarter, missing the consensus estimate of $2.09 by ($0.07). Stride had a return on equity of 23.36% and a net margin of 13.10%. The business had revenue of $613.38 million for the quarter, compared to analysts’ expectations of $591.15 million. During the same period in the previous year, the firm posted $1.60 EPS. The firm’s revenue for the quarter was up 17.8% compared to the same quarter last year. Sell-side analysts expect that Stride will post 6.67 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Stride

Several hedge funds have recently made changes to their positions in the business. Vident Advisory LLC increased its stake in shares of Stride by 2.9% during the first quarter. Vident Advisory LLC now owns 2,941 shares of the company’s stock valued at $372,000 after buying an additional 84 shares during the period. Mutual of America Capital Management LLC increased its stake in shares of Stride by 1.5% during the fourth quarter. Mutual of America Capital Management LLC now owns 6,492 shares of the company’s stock valued at $675,000 after buying an additional 93 shares during the period. Arizona State Retirement System increased its stake in shares of Stride by 0.8% during the fourth quarter. Arizona State Retirement System now owns 11,932 shares of the company’s stock valued at $1,240,000 after buying an additional 99 shares during the period. Oregon Public Employees Retirement Fund increased its stake in shares of Stride by 1.0% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 10,074 shares of the company’s stock valued at $1,047,000 after buying an additional 100 shares during the period. Finally, Vestcor Inc increased its stake in shares of Stride by 4.6% during the first quarter. Vestcor Inc now owns 2,328 shares of the company’s stock valued at $294,000 after buying an additional 102 shares during the period. 98.24% of the stock is owned by hedge funds and other institutional investors.

About Stride

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.