Stride (NYSE:LRN) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Stride (NYSE:LRN) from a hold rating to a buy rating in a report published on Saturday morning,Wall Street Zen reports.

Other analysts also recently issued reports about the company. Weiss Ratings raised Stride from a “hold (c)” rating to a “hold (c+)” rating in a research report on Friday, October 16th. William Blair cut shares of Stride from an “outperform” rating to a “market perform” rating in a research report on Thursday, July 30th. BMO Capital Markets decreased their target price on shares of Stride from $93.00 to $90.00 and set a “market perform” rating on the stock in a research report on Monday, October 5th. Barrington Research lowered their target price on shares of Stride from $125.00 to $115.00 and set an “outperform” rating for the company in a research note on Friday, October 23rd. Finally, Zacks Research upgraded shares of Stride from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, October 28th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $106.25.

Stride Trading Up 1.1%

LRN opened at $75.85 on Friday. Stride has a one year low of $60.61 and a one year high of $103.67. The stock has a market capitalization of $3.19 billion, a PE ratio of 10.46, a P/E/G ratio of 0.44 and a beta of 0.16. The business’s 50 day moving average price is $80.34 and its 200 day moving average price is $85.93. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.53 and a current ratio of 2.56.

Stride (NYSE:LRN) last issued its quarterly earnings data on Tuesday, October 20th. The company reported $1.37 earnings per share for the quarter, topping the consensus estimate of $1.07 by $0.30. The company had revenue of $639.38 million during the quarter, compared to analyst estimates of $612.25 million. Stride had a return on equity of 22.06% and a net margin of 13.18%. The firm’s revenue for the quarter was up 3.0% compared to the same quarter last year. During the same period in the prior year, the business posted $1.40 earnings per share. As a group, equities research analysts expect that Stride will post 9.04 EPS for the current year.

Insider Activity

In other Stride news, Director Dylan Haggart acquired 108,273 shares of the stock in a transaction dated Thursday, November 5th. The stock was acquired at an average price of $74.83 per share, with a total value of $8,102,068.59. Following the completion of the purchase, the director owned 2,236,033 shares in the company, valued at $167,322,349.39. This trade represents a 5.09% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Brian A. Shepherd acquired 10,000 shares of the stock in a transaction dated Tuesday, November 3rd. The stock was acquired at an average cost of $74.95 per share, with a total value of $749,500.00. Following the purchase, the director owned 23,094 shares of the company’s stock, valued at approximately $1,730,895.30. This trade represents a 76.37% increase in their position. The SEC filing for this purchase provides additional information. Insiders have bought 513,318 shares of company stock worth $39,585,565 in the last three months. Corporate insiders own 4.90% of the company’s stock.

Hedge Funds Weigh In On Stride

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. GAMMA Investing LLC increased its position in shares of Stride by 2.8% in the second quarter. GAMMA Investing LLC now owns 4,716 shares of the company’s stock worth $407,000 after acquiring an additional 128 shares in the last quarter. BDFS Capital LLC raised its stake in shares of Stride by 1.4% in the 2nd quarter. BDFS Capital LLC now owns 12,436 shares of the company’s stock valued at $1,072,000 after acquiring an additional 176 shares during the period. Cim LLC raised its stake in shares of Stride by 4.0% in the 1st quarter. Cim LLC now owns 4,706 shares of the company’s stock valued at $415,000 after acquiring an additional 179 shares during the period. EverSource Wealth Advisors LLC lifted its holdings in shares of Stride by 108.7% during the 1st quarter. EverSource Wealth Advisors LLC now owns 432 shares of the company’s stock valued at $38,000 after acquiring an additional 225 shares in the last quarter. Finally, Farther Finance Advisors LLC lifted its holdings in shares of Stride by 14.5% during the 3rd quarter. Farther Finance Advisors LLC now owns 2,533 shares of the company’s stock valued at $198,000 after acquiring an additional 321 shares in the last quarter. Hedge funds and other institutional investors own 98.24% of the company’s stock.

Stride Company Profile

Stride, Inc is an education technology company that provides online and blended learning programs, curriculum, and related services. Its offerings support students from kindergarten through high school, as well as learners pursuing career-focused education.

The company works with public school districts and other education partners to deliver virtual and hybrid instruction. Its programs include online courses, teacher-led instruction, and career learning pathways designed to help students build skills for further education and employment.

Stride was formerly known as K12 Inc and adopted its current name in 2020.