Stride (NYSE:LRN) Reaches New 52-Week High Following Analyst Upgrade

Stride, Inc. (NYSE:LRN) reached a new 52-week high during mid-day trading on Tuesday after Canaccord Genuity Group raised their price target on the stock from $100.00 to $130.00. Canaccord Genuity Group currently has a buy rating on the stock. Stride traded as high as $120.86 and last traded at $118.96, with a volume of 960216 shares. The stock had previously closed at $119.38.

A number of other brokerages have also recently weighed in on LRN. Citigroup raised their price objective on shares of Stride from $90.00 to $94.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 29th. StockNews.com lowered shares of Stride from a “buy” rating to a “hold” rating in a research report on Wednesday, October 23rd. Barrington Research lifted their price target on shares of Stride from $100.00 to $130.00 and gave the company an “outperform” rating in a report on Friday, January 17th. Morgan Stanley lifted their price target on shares of Stride from $94.00 to $109.00 and gave the company an “equal weight” rating in a report on Thursday, December 12th. Finally, 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. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $107.50.

Hedge Funds Weigh In On Stride

A number of institutional investors have recently added to or reduced their stakes in the company. Janus Henderson Group PLC raised its stake in shares of Stride by 1.1% in the 3rd quarter. Janus Henderson Group PLC now owns 1,170,434 shares of the company’s stock valued at $99,851,000 after purchasing an additional 13,050 shares in the last quarter. Geode Capital Management LLC raised its stake in Stride by 3.8% during the third quarter. Geode Capital Management LLC now owns 964,701 shares of the company’s stock worth $82,315,000 after acquiring an additional 35,349 shares during the period. Vaughan Nelson Investment Management L.P. raised its stake in Stride by 51.1% during the third quarter. Vaughan Nelson Investment Management L.P. now owns 929,855 shares of the company’s stock worth $79,326,000 after acquiring an additional 314,435 shares during the period. Victory Capital Management Inc. grew its position in Stride by 72.4% in the 3rd quarter. Victory Capital Management Inc. now owns 827,505 shares of the company’s stock worth $70,594,000 after purchasing an additional 347,564 shares during the last quarter. Finally, Rockefeller Capital Management L.P. grew its position in Stride by 0.7% in the 3rd quarter. Rockefeller Capital Management L.P. now owns 753,728 shares of the company’s stock worth $64,286,000 after purchasing an additional 5,278 shares during the last quarter. Institutional investors and hedge funds own 98.24% of the company’s stock.

Stride Trading Down 0.4 %

The firm’s 50-day simple moving average is $108.45 and its 200 day simple moving average is $90.92. 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 stock has a market cap of $5.19 billion, a P/E ratio of 21.63, a PEG ratio of 0.88 and a beta of 0.32.

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.