Stride (NYSE:LRN) PT Raised to $73.00 at BMO Capital Markets

Stride (NYSE:LRN) had its price objective increased by BMO Capital Markets from $72.00 to $73.00 in a report released on Thursday morning, Benzinga reports. BMO Capital Markets currently has an outperform rating on the stock.

Other equities analysts have also recently issued reports about the stock. Morgan Stanley lifted their price target on shares of Stride from $60.00 to $65.00 and gave the stock an equal weight rating in a research note on Wednesday, January 24th. Barrington Research reaffirmed an outperform rating and set a $75.00 price target on shares of Stride in a research note on Wednesday. StockNews.com raised shares of Stride from a hold rating to a buy rating in a research note on Tuesday, April 2nd. Wedbush reaffirmed an outperform rating on shares of Stride in a research note on Wednesday, January 24th. Finally, Citigroup lifted their price objective on shares of Stride from $70.00 to $75.00 and gave the company a buy rating in a report on Monday, January 29th. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of Moderate Buy and a consensus target price of $72.00.

Stride Stock Performance

Shares of NYSE:LRN opened at $67.08 on Thursday. Stride has a 52 week low of $35.61 and a 52 week high of $69.70. The stock has a market capitalization of $2.90 billion, a P/E ratio of 15.75, a PEG ratio of 0.74 and a beta of 0.26. The firm has a fifty day simple moving average of $60.65 and a two-hundred day simple moving average of $58.49. The company has a quick ratio of 4.44, a current ratio of 4.29 and a debt-to-equity ratio of 0.40.

Stride (NYSE:LRN) last released its quarterly earnings results on Tuesday, April 23rd. The company reported $1.60 EPS for the quarter, topping analysts’ consensus estimates of $1.47 by $0.13. Stride had a net margin of 9.29% and a return on equity of 18.29%. The firm had revenue of $520.84 million during the quarter, compared to analysts’ expectations of $507.89 million. During the same period in the previous year, the company earned $1.30 EPS. The firm’s revenue for the quarter was up 10.7% compared to the same quarter last year. On average, analysts expect that Stride will post 4.55 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Stride

A number of institutional investors and hedge funds have recently added to or reduced their stakes in LRN. Vanguard Group Inc. raised its holdings in shares of Stride by 0.6% in the 3rd quarter. Vanguard Group Inc. now owns 4,969,506 shares of the company’s stock valued at $223,777,000 after purchasing an additional 28,661 shares in the last quarter. Allspring Global Investments Holdings LLC raised its holdings in shares of Stride by 148.7% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 27,731 shares of the company’s stock valued at $1,646,000 after purchasing an additional 16,579 shares in the last quarter. Envestnet Asset Management Inc. raised its holdings in shares of Stride by 89.2% in the 3rd quarter. Envestnet Asset Management Inc. now owns 118,047 shares of the company’s stock valued at $5,316,000 after purchasing an additional 55,641 shares in the last quarter. Weil Company Inc. raised its holdings in shares of Stride by 38.1% in the 3rd quarter. Weil Company Inc. now owns 48,315 shares of the company’s stock valued at $2,176,000 after purchasing an additional 13,324 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of Stride by 1.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 531,030 shares of the company’s stock valued at $23,912,000 after purchasing an additional 8,754 shares in the last quarter. Institutional investors own 98.24% of the company’s stock.

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.