Stride (NYSE:LRN) Downgraded by Wall Street Zen to Hold

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

Other research analysts have also issued research reports about the company. Zacks Research lowered Stride from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 30th. BMO Capital Markets reiterated a “market perform” rating and issued a $94.00 target price on shares of Stride in a report on Wednesday. Weiss Ratings reissued a “hold (c+)” rating on shares of Stride in a research report on Monday, December 29th. Canaccord Genuity Group restated a “buy” rating and set a $125.00 price objective on shares of Stride in a report on Wednesday. Finally, Morgan Stanley dropped their price objective on shares of Stride from $130.00 to $95.00 and set an “equal weight” rating on the stock in a research note on Wednesday, December 17th. Three analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Stride currently has a consensus rating of “Hold” and an average target price of $109.75.

Stride Trading Up 0.7%

NYSE LRN opened at $84.64 on Friday. The stock has a market capitalization of $3.60 billion, a P/E ratio of 12.88, a P/E/G ratio of 0.50 and a beta of 0.06. Stride has a one year low of $60.61 and a one year high of $171.17. The business has a 50 day simple moving average of $67.37 and a 200 day simple moving average of $109.92. The company has a debt-to-equity ratio of 0.31, a current ratio of 7.27 and a quick ratio of 6.69.

Stride (NYSE:LRN) last released its quarterly earnings data on Tuesday, October 28th. The company reported $1.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.23 by $0.29. Stride had a net margin of 12.66% and a return on equity of 26.18%. The company had revenue of $620.88 million for the quarter, compared to analysts’ expectations of $615.50 million. During the same quarter in the prior year, the firm earned $0.94 EPS. The business’s revenue was up 12.7% on a year-over-year basis. Research analysts expect that Stride will post 6.67 earnings per share for the current year.

Institutional Investors Weigh In On Stride

Several institutional investors and hedge funds have recently added to or reduced their stakes in LRN. Newbridge Financial Services Group Inc. bought a new position in shares of Stride in the second quarter valued at approximately $25,000. Financial Management Professionals Inc. bought a new stake in Stride during the third quarter worth $26,000. Twin Peaks Wealth Advisors LLC purchased a new position in Stride in the second quarter worth $30,000. Penserra Capital Management LLC purchased a new position in Stride in the second quarter worth $27,000. Finally, Northwestern Mutual Wealth Management Co. grew its stake in Stride by 78.7% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 193 shares of the company’s stock valued at $28,000 after purchasing an additional 85 shares during the period. Hedge funds and other institutional investors own 98.24% of the company’s stock.

About Stride

Stride, Inc (NYSE:LRN) is a technology-driven education company that designs and delivers online learning solutions for students and adult learners. Through long-term partnerships with state-authorized public school districts, Stride operates virtual academies that serve K-12 students across the United States. The company’s blended-learning model combines digital curriculum, live teaching support and data analytics to personalize instruction and monitor student progress.

In addition to its K-12 offerings, Stride provides a portfolio of career and workforce readiness programs under its Stride Career Prep division.