K12 (NYSE:LRN) Raised to Buy at Zacks Investment Research

Zacks Investment Research upgraded shares of K12 (NYSE:LRN) from a hold rating to a buy rating in a research report report published on Saturday, Zacks.com reports. The firm currently has $35.00 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. “

Separately, Barrington Research set a $26.00 price target on NIC and gave the stock a buy rating in a research note on Thursday, June 13th. One equities research analyst has rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. The company has an average rating of Buy and a consensus target price of $31.25.

Shares of K12 stock opened at $31.36 on Friday. The company’s 50-day simple moving average is $30.75. K12 has a one year low of $16.07 and a one year high of $37.43. The company has a current ratio of 3.51, a quick ratio of 3.39 and a debt-to-equity ratio of 0.01. The company has a market cap of $1.26 billion, a price-to-earnings ratio of 46.12, a price-to-earnings-growth ratio of 2.34 and a beta of 0.07.

K12 (NYSE:LRN) last posted its quarterly earnings results on Tuesday, April 23rd. The company reported $0.44 earnings per share for the quarter, topping analysts’ consensus estimates of $0.37 by $0.07. K12 had a return on equity of 7.23% and a net margin of 4.33%. The business had revenue of $253.25 million for the quarter, compared to the consensus estimate of $252.49 million. During the same period in the prior year, the business earned $0.32 EPS. The firm’s revenue for the quarter was up 8.8% on a year-over-year basis. On average, analysts predict that K12 will post 0.84 earnings per share for the current fiscal year.

A number of hedge funds have recently bought and sold shares of the stock. D. E. Shaw & Co. Inc. raised its stake in shares of K12 by 31.8% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 1,065,421 shares of the company’s stock worth $26,412,000 after purchasing an additional 257,037 shares during the last quarter. Principal Financial Group Inc. raised its stake in shares of K12 by 51.3% in the fourth quarter. Principal Financial Group Inc. now owns 658,070 shares of the company’s stock worth $16,314,000 after purchasing an additional 223,227 shares during the last quarter. SG Capital Management LLC purchased a new stake in shares of K12 in the first quarter worth approximately $6,751,000. JPMorgan Chase & Co. raised its stake in shares of K12 by 17.1% in the first quarter. JPMorgan Chase & Co. now owns 1,237,894 shares of the company’s stock worth $42,249,000 after purchasing an additional 180,672 shares during the last quarter. Finally, Millennium Management LLC grew its holdings in shares of K12 by 45.9% in the fourth quarter. Millennium Management LLC now owns 536,657 shares of the company’s stock valued at $13,304,000 after acquiring an additional 168,897 shares in the last quarter. 87.01% of the stock is currently owned by institutional investors and hedge funds.

K12 Company Profile

K12 Inc, a technology-based education company, together with its subsidiaries, provides online curriculum, software systems, and educational services to facilitate individualized learning for students primarily in kindergarten through 12th grade in the United States and internationally. The company also offers curriculum and technology solutions for full-time virtual and blended programs; full-time virtual programs, semester courses, and supplemental educational products; teacher training, teaching, and other academic and technology support services to public schools, school districts, private schools, charter schools, early childhood learning centers, and corporate partners.

Further Reading: How can you know how many shares are floating?

Get a free copy of the Zacks research report on K12 (LRN)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for K12 Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for K12 and related companies with MarketBeat.com's FREE daily email newsletter.