Zacks Investment Research upgraded shares of K12 Inc (NYSE:LRN) from a hold rating to a buy rating in a research report sent to investors on Tuesday. The brokerage currently has $20.00 price target on the stock.
According to Zacks, “K12 Inc., a technology-based education company, is a leading national provider of proprietary curriculum and educational services created for online delivery to students in kindergarten through 12th grade, or K-12. Its mission is to maximize a child’s potential by providing access to an engaging and effective education, regardless of geographic location or socio-economic background. “
Several other brokerages have also issued reports on LRN. BMO Capital Markets restated a buy rating on shares of K12 in a research note on Friday, April 28th. TheStreet upgraded shares of K12 from a c+ rating to a b- rating in a research note on Monday, April 3rd. One investment analyst has rated the stock with a hold rating and three have assigned a buy rating to the stock. The stock currently has a consensus rating of Buy and a consensus target price of $17.75.
K12 (LRN) traded up 0.522% during trading on Tuesday, hitting $18.305. The stock had a trading volume of 93,291 shares. K12 has a 1-year low of $10.17 and a 1-year high of $21.18. The firm has a 50 day moving average price of $18.31 and a 200-day moving average price of $18.59. The firm has a market capitalization of $700.17 million, a PE ratio of 121.225 and a beta of -0.21.
K12 (NYSE:LRN) last issued its quarterly earnings results on Thursday, April 27th. The company reported $0.42 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.26 by $0.16. K12 had a net margin of 0.67% and a return on equity of 3.19%. The company had revenue of $222.50 million during the quarter, compared to analyst estimates of $215.69 million. During the same quarter last year, the business posted $0.37 EPS. K12’s quarterly revenue was up .5% compared to the same quarter last year. On average, equities research analysts expect that K12 will post $0.41 EPS for the current year.
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In related news, insider Nathaniel A. Davis sold 2,500 shares of K12 stock in a transaction that occurred on Wednesday, May 3rd. The shares were sold at an average price of $20.46, for a total value of $51,150.00. Following the completion of the transaction, the insider now directly owns 788,695 shares in the company, valued at approximately $16,136,699.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Joseph Zarella sold 12,269 shares of K12 stock in a transaction that occurred on Wednesday, May 3rd. The shares were sold at an average price of $20.54, for a total transaction of $252,005.26. Following the completion of the transaction, the executive vice president now owns 105,412 shares of the company’s stock, valued at $2,165,162.48. The disclosure for this sale can be found here. Insiders sold a total of 82,600 shares of company stock valued at $1,617,718 over the last quarter. 18.34% of the stock is owned by company insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP raised its position in K12 by 12.2% in the first quarter. Dimensional Fund Advisors LP now owns 2,769,245 shares of the company’s stock worth $53,030,000 after buying an additional 300,885 shares in the last quarter. Vanguard Group Inc. raised its position in K12 by 6.8% in the first quarter. Vanguard Group Inc. now owns 2,737,545 shares of the company’s stock worth $52,423,000 after buying an additional 175,099 shares in the last quarter. State Street Corp raised its position in K12 by 3.7% in the fourth quarter. State Street Corp now owns 770,350 shares of the company’s stock worth $13,218,000 after buying an additional 27,630 shares in the last quarter. AQR Capital Management LLC raised its position in K12 by 34.5% in the first quarter. AQR Capital Management LLC now owns 653,096 shares of the company’s stock worth $12,507,000 after buying an additional 167,442 shares in the last quarter. Finally, Geode Capital Management LLC raised its position in K12 by 10.1% in the first quarter. Geode Capital Management LLC now owns 486,433 shares of the company’s stock worth $9,314,000 after buying an additional 44,501 shares in the last quarter. Institutional investors and hedge funds own 79.23% of the company’s stock.
About K12
K12 Inc (K12) is a technology-based education company. The Company offers curriculum, software systems and educational services designed to facilitate individualized learning for students in kindergarten through 12th grade (K-12). It provides a continuum of technology-based educational products and solutions to public school districts, public schools, virtual charter schools, private schools and families.
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