Citigroup Boosts Stride (NYSE:LRN) Price Target to $94.00

Stride (NYSE:LRN) had its target price raised by equities research analysts at Citigroup from $90.00 to $94.00 in a research report issued on Tuesday, Benzinga reports. The firm currently has a “neutral” rating on the stock. Citigroup’s price target would suggest a potential upside of 3.86% from the stock’s current price.

LRN has been the subject of a number of other research reports. Canaccord Genuity Group began coverage on Stride in a research report on Thursday, August 8th. They issued a “buy” rating and a $94.00 target price for the company. Canaccord Genuity Group boosted their price objective on Stride from $94.00 to $100.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Barrington Research boosted their price objective on Stride from $90.00 to $100.00 and gave the company an “outperform” rating in a research report on Wednesday, October 23rd. StockNews.com lowered Stride from a “buy” rating to a “hold” rating in a research report on Wednesday, October 23rd. Finally, BMO Capital Markets upped their price target 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 equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $90.17.

Stride Price Performance

NYSE LRN traded down $0.50 on Tuesday, hitting $90.51. The stock had a trading volume of 318,473 shares, compared to its average volume of 836,125. The company has a market capitalization of $3.92 billion, a price-to-earnings ratio of 21.26, a price-to-earnings-growth ratio of 0.64 and a beta of 0.26. The company has a debt-to-equity ratio of 0.38, a quick ratio of 4.95 and a current ratio of 5.10. The firm has a 50-day moving average of $79.83 and a 200-day moving average of $73.40. Stride has a 52-week low of $54.12 and a 52-week high of $92.75.

Stride (NYSE:LRN) last announced its quarterly earnings data on Tuesday, October 22nd. The company reported $0.94 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.22 by $0.72. Stride had a return on equity of 21.76% and a net margin of 11.38%. The firm had revenue of $551.08 million for the quarter, compared to analysts’ expectations of $504.29 million. During the same period last year, the firm earned $0.11 earnings per share. The company’s revenue for the quarter was up 14.8% compared to the same quarter last year. Equities analysts expect that Stride will post 5.04 EPS for the current year.

Insider Buying and Selling

In other news, Director Todd Goldthwaite sold 8,028 shares of the stock in a transaction that occurred on Friday, October 25th. The stock was sold at an average price of $91.54, for a total value of $734,883.12. Following the completion of the sale, the director now directly owns 85,058 shares of the company’s stock, valued at approximately $7,786,209.32. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.76% of the stock is owned by insiders.

Institutional Investors Weigh In On Stride

Several institutional investors and hedge funds have recently made changes to their positions in the business. SummerHaven Investment Management LLC grew its position in shares of Stride by 1.1% in the second quarter. SummerHaven Investment Management LLC now owns 20,454 shares of the company’s stock valued at $1,442,000 after purchasing an additional 217 shares during the period. Arizona State Retirement System boosted its stake in Stride by 1.9% in the 2nd quarter. Arizona State Retirement System now owns 11,536 shares of the company’s stock worth $813,000 after buying an additional 220 shares during the last quarter. Isthmus Partners LLC grew its holdings in Stride by 4.8% in the 2nd quarter. Isthmus Partners LLC now owns 4,814 shares of the company’s stock valued at $339,000 after buying an additional 222 shares during the period. Sei Investments Co. increased its stake in shares of Stride by 0.6% during the 2nd quarter. Sei Investments Co. now owns 40,210 shares of the company’s stock valued at $2,834,000 after acquiring an additional 242 shares during the last quarter. Finally, Measured Wealth Private Client Group LLC lifted its holdings in shares of Stride by 6.6% during the 3rd quarter. Measured Wealth Private Client Group LLC now owns 5,074 shares of the company’s stock worth $433,000 after acquiring an additional 315 shares during the period. 98.24% of the stock is currently 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.