Stride (NYSE:LRN) Hits New 52-Week High – Should You Buy?

Stride, Inc. (NYSE:LRN) reached a new 52-week high during trading on Tuesday . The company traded as high as $103.92 and last traded at $103.40, with a volume of 23325 shares trading hands. The stock had previously closed at $102.89.

Analysts Set New Price Targets

A number of research analysts have commented on the stock. StockNews.com downgraded shares of Stride from a “buy” rating to a “hold” rating in a research note on Wednesday, October 23rd. Canaccord Genuity Group increased their price objective on shares of Stride from $94.00 to $100.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Canaccord Genuity Group started coverage on shares of Stride in a report on Thursday, August 8th. They issued a “buy” rating and a $94.00 price objective on the stock. BMO Capital Markets raised their target price on shares of Stride from $84.00 to $88.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. Finally, Citigroup raised their target price on shares of Stride from $90.00 to $94.00 and gave the company a “neutral” rating in a research note on Tuesday, October 29th. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $90.17.

Stride Stock Performance

The company has a current ratio of 5.60, a quick ratio of 5.50 and a debt-to-equity ratio of 0.38. The company’s 50-day moving average price is $82.82 and its two-hundred day moving average price is $76.01. The company has a market cap of $4.48 billion, a P/E ratio of 18.71, a price-to-earnings-growth ratio of 0.77 and a beta of 0.27.

Stride (NYSE:LRN) last announced its earnings results on Tuesday, October 22nd. The company reported $0.94 EPS for the quarter, topping the consensus estimate of $0.22 by $0.72. The company had revenue of $551.08 million during the quarter, compared to analysts’ expectations of $504.29 million. Stride had a net margin of 11.38% and a return on equity of 21.23%. The business’s revenue for the quarter was up 14.8% on a year-over-year basis. During the same period last year, the company posted $0.11 earnings per share. As a group, equities analysts forecast that Stride, Inc. will post 6.66 earnings per share for the current year.

Insider Activity at Stride

In other news, Director Todd Goldthwaite sold 8,028 shares of Stride stock in a transaction that occurred on Friday, October 25th. The shares were sold at an average price of $91.54, for a total value of $734,883.12. Following the transaction, the director now owns 85,058 shares of the company’s stock, valued at $7,786,209.32. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 2.76% of the company’s stock.

Institutional Investors Weigh In On Stride

A number of institutional investors have recently bought and sold shares of the business. Swedbank AB acquired a new stake in shares of Stride in the 1st quarter valued at $60,385,000. Vaughan Nelson Investment Management L.P. bought a new stake in shares of Stride in the 2nd quarter worth about $43,387,000. Congress Asset Management Co. bought a new stake in shares of Stride in the 3rd quarter worth about $45,616,000. Victory Capital Management Inc. grew its holdings in shares of Stride by 1,443.6% in the 2nd quarter. Victory Capital Management Inc. now owns 479,941 shares of the company’s stock worth $33,836,000 after purchasing an additional 448,849 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD grew its holdings in shares of Stride by 641.9% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 508,444 shares of the company’s stock worth $32,058,000 after purchasing an additional 439,911 shares during the last quarter. Institutional investors and hedge funds own 98.24% of the company’s stock.

Stride Company Profile

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.