Barrington Research Issues Positive Forecast for Stride (NYSE:LRN) Stock Price

Key Points

• Barrington Research has raised its price target for Stride (NYSE:LRN) from $170.00 to $185.00, indicating a potential upside of 11.47% from the stock's previous close.
• Stride reported $2.29 earnings per share for the last quarter, surpassing analysts' expectations of $1.83 and achieving a revenue of $653.65 million, up 22.4% year-over-year.
• Insider transactions revealed that CEO James Jeaho Rhyu sold 13,961 shares at an average price of $162.66, decreasing their ownership stake by 1.94% while still holding 706,353 shares valued at approximately $114.9 million.

Stride (NYSE:LRN - Get Free Report) had its price objective increased by analysts at Barrington Research from $170.00 to $185.00 in a note issued to investors on Friday,Benzinga reports. The firm currently has an "outperform" rating on the stock. Barrington Research's target price suggests a potential upside of 11.47% from the stock's previous close.

A number of other brokerages have also recently issued reports on LRN. Morgan Stanley upped their price target on shares of Stride from $148.00 to $159.00 and gave the stock an "equal weight" rating in a research note on Wednesday, August 6th. Wall Street Zen lowered Stride from a "buy" rating to a "hold" rating in a research report on Friday, August 22nd. Finally, BMO Capital Markets reissued an "outperform" rating on shares of Stride in a research report on Thursday, May 1st. Four analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Stride currently has a consensus rating of "Moderate Buy" and a consensus price target of $146.40.

Stride Stock Performance

Shares of Stride stock opened at $165.96 on Friday. The stock has a market cap of $7.24 billion, a price-to-earnings ratio of 27.57, a PEG ratio of 0.99 and a beta of 0.10. The firm's 50-day moving average is $143.82 and its 200 day moving average is $140.77. Stride has a 1 year low of $63.25 and a 1 year high of $171.17. The company has a debt-to-equity ratio of 0.31, a current ratio of 5.39 and a quick ratio of 5.27.

Stride (NYSE:LRN - Get Free Report) last announced its quarterly earnings results on Tuesday, August 5th. The company reported $2.29 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.83 by $0.46. The company had revenue of $653.65 million for the quarter, compared to analysts' expectations of $626.23 million. Stride had a net margin of 11.97% and a return on equity of 25.51%. Stride's revenue was up 22.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.42 EPS. Sell-side analysts anticipate that Stride will post 6.67 EPS for the current fiscal year.

Insider Transactions at Stride

In related news, CEO James Jeaho Rhyu sold 13,961 shares of the stock in a transaction that occurred on Tuesday, August 19th. The shares were sold at an average price of $162.66, for a total value of $2,270,896.26. Following the completion of the sale, the chief executive officer directly owned 706,353 shares of the company's stock, valued at approximately $114,895,378.98. This represents a 1.94% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 3.00% of the company's stock.

Institutional Investors Weigh In On Stride

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Stifel Financial Corp boosted its stake in Stride by 15.2% in the 4th quarter. Stifel Financial Corp now owns 14,824 shares of the company's stock worth $1,541,000 after purchasing an additional 1,954 shares during the period. Susquehanna Fundamental Investments LLC purchased a new position in shares of Stride during the fourth quarter valued at $1,209,000. Northern Trust Corp increased its stake in shares of Stride by 9.8% during the fourth quarter. Northern Trust Corp now owns 461,954 shares of the company's stock valued at $48,011,000 after buying an additional 41,205 shares during the period. Schonfeld Strategic Advisors LLC boosted its position in Stride by 549.5% during the fourth quarter. Schonfeld Strategic Advisors LLC now owns 50,090 shares of the company's stock valued at $5,206,000 after purchasing an additional 42,378 shares in the last quarter. Finally, Algert Global LLC boosted its holdings in Stride by 245.8% in the fourth quarter. Algert Global LLC now owns 77,425 shares of the company's stock worth $8,047,000 after acquiring an additional 55,037 shares in the last quarter. 98.24% of the stock is owned by hedge funds and other institutional investors.

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.

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