Stride (NYSE:LRN) Price Target Raised to $67.00 at BMO Capital Markets

Stride (NYSE:LRN) had its target price boosted by BMO Capital Markets from $57.00 to $67.00 in a research report report published on Thursday morning, Benzinga reports. They currently have an outperform rating on the stock.

Several other brokerages have also recently weighed in on LRN. StockNews.com cut shares of Stride from a buy rating to a hold rating in a research note on Monday, November 6th. Barrington Research upped their price objective on shares of Stride from $50.00 to $60.00 and gave the stock an outperform rating in a research note on Wednesday, October 25th. Finally, Morgan Stanley upped their price objective on shares of Stride from $57.00 to $60.00 and gave the stock an equal weight rating in a research note on Thursday.

Stride Stock Up 0.1 %

Shares of LRN opened at $57.09 on Thursday. The company has a 50-day simple moving average of $48.64 and a 200-day simple moving average of $42.93. The firm has a market capitalization of $2.45 billion, a P/E ratio of 15.81, a P/E/G ratio of 0.72 and a beta of 0.32. The company has a debt-to-equity ratio of 0.46, a quick ratio of 3.54 and a current ratio of 3.61. Stride has a 52 week low of $30.66 and a 52 week high of $58.39.

Stride (NYSE:LRN) last announced its quarterly earnings data on Tuesday, October 24th. The company reported $0.11 EPS for the quarter, beating analysts’ consensus estimates of ($0.39) by $0.50. The business had revenue of $480.18 million during the quarter, compared to analyst estimates of $456.24 million. Stride had a net margin of 8.16% and a return on equity of 16.94%. On average, equities research analysts expect that Stride will post 3.98 earnings per share for the current year.

Insiders Place Their Bets

In other Stride news, insider Les Ottolenghi sold 6,150 shares of the stock in a transaction on Tuesday, November 7th. The shares were sold at an average price of $56.42, for a total value of $346,983.00. Following the sale, the insider now directly owns 60,757 shares in the company, valued at $3,427,909.94. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, insider Les Ottolenghi sold 6,150 shares of the firm’s stock in a transaction on Tuesday, November 7th. The shares were sold at an average price of $56.42, for a total transaction of $346,983.00. Following the sale, the insider now directly owns 60,757 shares in the company, valued at $3,427,909.94. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO James Jeaho Rhyu sold 25,000 shares of the firm’s stock in a transaction on Wednesday, October 25th. The stock was sold at an average price of $50.56, for a total transaction of $1,264,000.00. Following the sale, the chief executive officer now owns 587,475 shares in the company, valued at $29,702,736. The disclosure for this sale can be found here. Over the last three months, insiders have sold 41,737 shares of company stock worth $2,180,669. Company insiders own 2.76% of the company’s stock.

Hedge Funds Weigh In On Stride

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Los Angeles Capital Management LLC grew its holdings in Stride by 34.6% during the 2nd quarter. Los Angeles Capital Management LLC now owns 54,746 shares of the company’s stock worth $2,038,000 after acquiring an additional 14,073 shares during the last quarter. KBC Group NV bought a new stake in shares of Stride in the 2nd quarter valued at $113,000. Russell Investments Group Ltd. increased its position in shares of Stride by 45.9% during the first quarter. Russell Investments Group Ltd. now owns 92,520 shares of the company’s stock worth $3,631,000 after buying an additional 29,107 shares during the period. Pacer Advisors Inc. increased its position in shares of Stride by 6.6% during the second quarter. Pacer Advisors Inc. now owns 427,565 shares of the company’s stock worth $15,918,000 after buying an additional 26,582 shares during the period. Finally, State of New Jersey Common Pension Fund D acquired a new stake in shares of Stride during the first quarter worth $2,102,000. 98.24% of the stock is currently owned by institutional investors and hedge funds.

About Stride

Stride, Inc, a technology-based education service company, provides proprietary and third-party online curriculum, software systems, and educational services to facilitate individualized learning for students primarily in kindergarten through 12th grade (K-12) in the United States and internationally.