Stride (NYSE:LRN) Shares Down 6% - Time to Sell?

Stride, Inc. (NYSE:LRN - Get Free Report) fell 6% during mid-day trading on Tuesday . The company traded as low as $148.19 and last traded at $148.88. 394,297 shares changed hands during mid-day trading, a decline of 53% from the average session volume of 845,814 shares. The stock had previously closed at $158.33.

Analysts Set New Price Targets

A number of brokerages recently issued reports on LRN. BMO Capital Markets reissued an "outperform" rating on shares of Stride in a research report on Thursday, May 1st. Wall Street Zen cut Stride from a "buy" rating to a "hold" rating in a research report on Friday, May 30th. Barrington Research increased their price objective on Stride from $150.00 to $170.00 and gave the stock an "outperform" rating in a research report on Wednesday, April 30th. William Blair reaffirmed an "outperform" rating on shares of Stride in a research report on Wednesday, April 30th. Finally, Canaccord Genuity Group increased their price objective on Stride from $145.00 to $155.00 and gave the stock a "buy" rating in a research report on Monday, April 28th. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $126.83.

Stride Stock Up 0.5%

The company has a debt-to-equity ratio of 0.35, a quick ratio of 5.93 and a current ratio of 6.02. The business has a 50-day simple moving average of $144.32 and a two-hundred day simple moving average of $128.04. The company has a market capitalization of $6.28 billion, a price-to-earnings ratio of 24.11, a PEG ratio of 1.04 and a beta of 0.35.

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

Institutional Trading of Stride

Several hedge funds have recently modified their holdings of the business. KBC Group NV increased its stake in Stride by 68.5% in the 4th quarter. KBC Group NV now owns 1,891 shares of the company's stock valued at $197,000 after purchasing an additional 769 shares in the last quarter. Robeco Institutional Asset Management B.V. purchased a new position in Stride in the 4th quarter valued at approximately $340,000. Choreo LLC purchased a new position in Stride in the 4th quarter valued at approximately $588,000. Bleakley Financial Group LLC increased its stake in Stride by 14.2% in the 4th quarter. Bleakley Financial Group LLC now owns 4,400 shares of the company's stock valued at $457,000 after purchasing an additional 547 shares in the last quarter. Finally, Advisors Preferred LLC purchased a new position in Stride in the 4th quarter valued at approximately $708,000. 98.24% of the stock is owned by institutional investors and hedge funds.

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.