Stride (NYSE:LRN) Upgraded to Buy at Wall Street Zen

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

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

Stride Stock Up 0.3%

LRN stock opened at $75.09 on Friday. The stock has a fifty day moving average of $80.56 and a 200-day moving average of $85.91. Stride has a fifty-two week low of $60.61 and a fifty-two week high of $103.67. The company has a market capitalization of $3.16 billion, a price-to-earnings ratio of 10.36, a PEG ratio of 0.41 and a beta of 0.16. 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 released its quarterly earnings data on Tuesday, October 20th. The company reported $1.37 earnings per share for the quarter, beating analysts’ consensus estimates of $1.07 by $0.30. Stride had a net margin of 13.18% and a return on equity of 22.06%. The business had revenue of $639.38 million during the quarter, compared to analyst estimates of $612.25 million. During the same period in the previous year, the business earned $1.40 EPS. Stride’s revenue was up 3.0% compared to the same quarter last year. As a group, equities research analysts predict that Stride will post 9.04 earnings per share for the current year.

Insider Buying and Selling

In other news, Director Dylan G. Haggart bought 36,357 shares of the stock in a transaction dated Tuesday, November 3rd. The stock was purchased at an average cost of $74.91 per share, for a total transaction of $2,723,502.87. Following the transaction, the director owned 2,127,760 shares of the company’s stock, valued at $159,390,501.60. The trade was a 1.74% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Brian A. Shepherd bought 10,000 shares of the business’s stock in a transaction that occurred on 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 completion of the acquisition, the director owned 23,094 shares of the company’s stock, valued at $1,730,895.30. This represents a 76.37% increase in their position. The SEC filing for this purchase provides additional information. In the last ninety days, insiders acquired 405,045 shares of company stock worth $31,483,496. Corporate insiders own 3.00% of the company’s stock.

Hedge Funds Weigh In On Stride

Several institutional investors have recently bought and sold shares of the business. GAMMA Investing LLC lifted its holdings in Stride by 2.8% during the 2nd quarter. GAMMA Investing LLC now owns 4,716 shares of the company’s stock worth $407,000 after buying an additional 128 shares in the last quarter. BDFS Capital LLC grew its stake in shares of Stride by 1.4% in the second quarter. BDFS Capital LLC now owns 12,436 shares of the company’s stock worth $1,072,000 after acquiring an additional 176 shares in the last quarter. Cim LLC increased its position in shares of Stride by 4.0% during the first quarter. Cim LLC now owns 4,706 shares of the company’s stock worth $415,000 after acquiring an additional 179 shares during the period. EverSource Wealth Advisors LLC raised its stake in shares of Stride by 108.7% in the first 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 raised its stake in shares of Stride by 14.5% in the third 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. Institutional investors own 98.24% of the company’s stock.

About Stride

Stride, Inc is an education technology company that provides online and blended learning programs for K-12 students. The company partners with public school districts, charter schools and other education organizations to deliver digital curricula, instructional software, teaching support and student services. Its offerings are designed to support full-time virtual schools, supplemental courses and traditional schools incorporating online learning.

Stride also provides career-focused education through programs that combine academic instruction with career exploration, technical training and industry-aligned learning opportunities.