Morgan Stanley Cuts Stride (NYSE:LRN) Price Target to $41.00 – MarketBeat

Stride (NYSE:LRN – Get Rating) had its price target decreased by research analysts at Morgan Stanley from $43.00 to $41.00 in a report issued on Wednesday, Benzinga reports. The firm currently has an “overweight” rating on the stock. Morgan Stanley’s price target indicates a potential upside of 25.38% from the company’s current price.

A number of other equities research analysts also recently commented on the company. BMO Capital Markets lowered their price objective on Stride from $52.00 to $50.00 and set an “outperform” rating for the company in a research report on Thursday, October 27th. StockNews.com cut Stride from a “buy” rating to a “hold” rating in a report on Thursday, October 27th.

Stride Trading Down 1.2 %

Shares of Stride stock traded down $0.41 during mid-day trading on Wednesday, hitting $32.70. 2,417 shares of the stock were exchanged, compared to its average volume of 432,041. The stock has a market capitalization of $1.41 billion, a price-to-earnings ratio of 15.31, a price-to-earnings-growth ratio of 0.73 and a beta of 0.30. Stride has a twelve month low of $25.65 and a twelve month high of $47.35. The company has a current ratio of 3.22, a quick ratio of 3.12 and a debt-to-equity ratio of 0.57. The company has a 50-day simple moving average of $33.61 and a 200 day simple moving average of $38.29.

Stride (NYSE:LRN – Get Rating) last announced its earnings results on Tuesday, October 25th. The company reported ($0.54) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.18) by ($0.36). The firm had revenue of $425.15 million for the quarter, compared to analyst estimates of $423.74 million. Stride had a return on equity of 11.60% and a net margin of 5.28%. Research analysts forecast that Stride will post 2.14 EPS for the current year.

Institutional Trading of Stride

Large investors have recently added to or reduced their stakes in the stock. Advisor Group Holdings Inc. boosted its position in shares of Stride by 40.5% in the first quarter. Advisor Group Holdings Inc. now owns 2,050 shares of the company’s stock worth $120,000 after buying an additional 591 shares during the period. JPMorgan Chase & Co. grew its position in Stride by 26.2% in the first quarter. JPMorgan Chase & Co. now owns 228,997 shares of the company’s stock valued at $8,321,000 after acquiring an additional 47,583 shares in the last quarter. Raymond James & Associates raised its stake in shares of Stride by 9.2% during the first quarter. Raymond James & Associates now owns 9,637 shares of the company’s stock valued at $350,000 after purchasing an additional 814 shares during the period. PNC Financial Services Group Inc. lifted its position in shares of Stride by 14.8% during the first quarter. PNC Financial Services Group Inc. now owns 5,445 shares of the company’s stock worth $198,000 after purchasing an additional 700 shares in the last quarter. Finally, MetLife Investment Management LLC lifted its position in shares of Stride by 52.5% during the first quarter. MetLife Investment Management LLC now owns 23,353 shares of the company’s stock worth $848,000 after purchasing an additional 8,035 shares in the last quarter. 92.34% of the stock is currently owned by institutional investors and hedge funds.

Stride Company Profile

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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.