Stride (NYSE:LRN) Hits New 1-Year High - Here's Why

Stride, Inc. (NYSE:LRN - Get Free Report) shares hit a new 52-week high during trading on Tuesday . The company traded as high as $162.30 and last traded at $160.63, with a volume of 782416 shares. The stock had previously closed at $159.55.

Analyst Ratings Changes

Several brokerages recently issued reports on LRN. BMO Capital Markets lifted their target price on Stride from $134.00 to $139.00 and gave the company an "outperform" rating in a research report on Tuesday, April 1st. William Blair reaffirmed an "outperform" rating on shares of Stride in a report on Wednesday, April 30th. Barrington Research increased their target price on shares of Stride from $150.00 to $170.00 and gave the company an "outperform" rating in a report on Wednesday, April 30th. Finally, Canaccord Genuity Group boosted their price target on shares of Stride from $145.00 to $155.00 and gave the stock a "buy" rating in a report on Monday, April 28th. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $126.83.

Stride Stock Up 0.7 %

The company has a market capitalization of $6.99 billion, a PE ratio of 26.82, a P/E/G ratio of 1.04 and a beta of 0.36. The stock's fifty day moving average is $132.24 and its two-hundred day moving average is $118.92. The company has a current ratio of 6.02, a quick ratio of 5.93 and a debt-to-equity ratio of 0.35.

Stride (NYSE:LRN - Get Free Report) last released its earnings results on Tuesday, April 29th. The company reported $2.02 earnings per share for the quarter, missing analysts' consensus estimates of $2.09 by ($0.07). Stride had a net margin of 12.30% and a return on equity of 22.42%. The company had revenue of $613.38 million during the quarter, compared to analysts' expectations of $591.15 million. During the same quarter in the previous year, the firm earned $1.60 earnings per share. The firm's revenue was up 17.8% compared to the same quarter last year. As a group, analysts predict that Stride, Inc. will post 6.67 EPS for the current year.

Institutional Trading of Stride

Large investors have recently bought and sold shares of the company. Blue Bell Private Wealth Management LLC bought a new position in shares of Stride during the 1st quarter worth $254,000. IFP Advisors Inc lifted its holdings in Stride by 20,900.0% during the first quarter. IFP Advisors Inc now owns 1,260 shares of the company's stock valued at $159,000 after purchasing an additional 1,254 shares during the last quarter. Kestra Private Wealth Services LLC bought a new position in Stride during the first quarter worth about $771,000. Private Advisor Group LLC purchased a new position in shares of Stride in the first quarter worth about $328,000. Finally, Jennison Associates LLC bought a new stake in shares of Stride in the first quarter valued at approximately $789,000. 98.24% of the stock is owned by hedge funds and other institutional investors.

About Stride

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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