Stride (NYSE:LRN) Share Price Falls 4.6%

Stride, Inc. stock price (NYSE:LRN – Get Free Report ) fell 4.6% on Tuesday. The company traded as high as $79.02 and last traded at $79.92. About 123,534 shares were traded mid-day, down 83% from the average daily volume of 712,711 shares. Shares previously closed at $83.77.

Analysts set new price targets

A number of analysts have recently issued reports on the stock. Barrington Research lifted their price objective on shares of Stride from $85.00 to $90.00 and gave the stock an “outperform” rating in a report on Thursday, August 8th. BMO Capital Markets lifted their target price on shares of Stride from $79.00 to $82.00 and gave the stock an “outperform” rating in a report on Thursday, August 8th. Canaccord Genuity Group assumed coverage on Stride in a report on Thursday, August 8th. They set a “buy” rating and a $94.00 price objective for the company. Citigroup downgraded Stride from a “buy” rating to a “neutral” rating and upped their target price for the stock from $77.00 to $90.00 in a research report on Tuesday. Finally, Canaccord Genuity Group started coverage on Stride in a research report on Thursday, August 8th. They set a “buy” rating and a $94.00 price target on the stock. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Stride currently has an average rating of “Moderate Buy” and an average price target of $85.83, according to MarketBeat.

Get the latest report on Stride

Stride stock performance

The company has a market cap of $3.46 billion, a P/E ratio of 18.77, a P/E/G ratio of 0.74 and a beta of 0.28. The company has a current ratio of 4.29, a quick ratio of 4.21, and a debt-to-equity ratio of 0.40. The company’s fifty-day moving average is $72.61, and its 200-day moving average is $66.87.

Stride (NYSE:LRN – Get Free Report ) last posted its quarterly earnings results on Tuesday, August 6th. The company reported $1.42 EPS for the quarter, topping analysts’ consensus estimates of $1.27 by $0.15. The firm had revenue of $534.18 million during the quarter, compared to analyst estimates of $525.89 million. Stride had a return on equity of 18.29% and a net margin of 9.29%. The company’s revenue for the quarter was up 10.5% year over year. In the same period last year, the company earned $1.01 per share. As a group, equities analysts anticipate that Stride, Inc. will post 4.55 earnings per share for the current year.

Institutional inputs and outputs

Hedge funds have recently added to or reduced their holdings in the stock. Susquehanna Fundamental Investments LLC acquired a new stake in shares of Stride in the second quarter valued at about $374,000. The Manufacturers Life Insurance Company raised its holdings in Stride by 3.6% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 23,851 shares of the company’s stock worth $1,681,000 after acquiring an additional 822 shares. of shares during the period. Marshall Wace LLP purchased a new stake in Stride in the second quarter valued at approximately $230,000. Public Sector Pension Investment Board boosted its holdings in Stride by 7.7% in the second quarter. Public Sector Pension Investment Board now owns 87,860 shares of the company’s stock valued at $6,194,000 after buying an additional 6,282 shares during the period. Finally, Hancock Whitney Corp purchased a new position in shares of Stride during the second quarter valued at $205,000. Hedge funds and other institutional investors own 98.24% of the company’s shares.

About Stride

(Get a free report)

Stride, Inc., a technology-based education services 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.

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