Stride (NYSE:LRN) Downgraded to “Neutral” at Citigroup

Citigroup downgraded shares of Stride (NYSE:LRN) from a buy rating to a neutral rating in a research report released on Tuesday, Marketbeat Ratings reports. They currently have $90.00 price target on the stock, up from their prior price target of $77.00.

Other equities analysts also recently issued reports about the company. Canaccord Genuity Group began coverage on Stride in a research report on Thursday, August 8th. They issued a buy rating and a $94.00 price objective on the stock. StockNews.com upgraded Stride from a hold rating to a buy rating in a research note on Friday, August 9th. Canaccord Genuity Group initiated coverage on shares of Stride in a report on Thursday, August 8th. They set a buy rating and a $94.00 price objective for the company. Barrington Research boosted their target price on shares of Stride from $85.00 to $90.00 and gave the stock an outperform rating in a report on Thursday, August 8th. Finally, BMO Capital Markets raised their target price on shares of Stride from $79.00 to $82.00 and gave the company an outperform rating in a research note on Thursday, August 8th. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of Moderate Buy and an average price target of $85.83.

Stride Price Performance

NYSE LRN opened at $81.49 on Tuesday. The company has a current ratio of 4.29, a quick ratio of 4.21 and a debt-to-equity ratio of 0.40. Stride has a 12 month low of $40.77 and a 12 month high of $83.97. The stock has a market cap of $3.52 billion, a price-to-earnings ratio of 19.13, a PEG ratio of 0.74 and a beta of 0.28. The company’s 50 day moving average is $73.13 and its two-hundred day moving average is $67.12.

Stride (NYSE:LRN) last announced its quarterly earnings data on Tuesday, August 6th. The company reported $1.42 EPS for the quarter, beating the consensus estimate of $1.27 by $0.15. Stride had a net margin of 9.29% and a return on equity of 18.29%. The firm had revenue of $534.18 million for the quarter, compared to the consensus estimate of $525.89 million. During the same period last year, the firm earned $1.01 EPS. The company’s revenue was up 10.5% on a year-over-year basis. As a group, research analysts anticipate that Stride will post 4.55 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Strs Ohio purchased a new stake in Stride during the fourth quarter valued at $47,000. GAMMA Investing LLC purchased a new stake in shares of Stride during the 4th quarter valued at about $65,000. Quadrant Capital Group LLC raised its position in shares of Stride by 76.7% during the 4th quarter. Quadrant Capital Group LLC now owns 1,113 shares of the company’s stock valued at $66,000 after buying an additional 483 shares in the last quarter. Motco bought a new position in shares of Stride in the 1st quarter valued at about $74,000. Finally, EntryPoint Capital LLC purchased a new position in Stride in the first quarter worth about $77,000. 98.24% of the stock is currently owned by institutional investors.

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.