K12 (NYSE:LRN) Upgraded to “Buy” by 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 Friday morning, Zacks.com reports. Zacks Investment Research currently has $31.00 price objective 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. “

LRN has been the topic of a number of other reports. Barrington Research restated a buy rating and set a $40.00 target price on shares of K12 in a research report on Thursday, June 13th. BMO Capital Markets lowered their target price on shares of K12 to $33.00 and set an outperform rating on the stock in a research report on Thursday. Sidoti upgraded shares of K12 from a neutral rating to a buy rating in a research report on Wednesday. Finally, ValuEngine lowered shares of K12 from a buy rating to a hold rating in a research report on Thursday, August 1st. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The company currently has an average rating of Buy and a consensus price target of $33.25.

Shares of LRN traded up $0.24 during mid-day trading on Friday, reaching $28.95. 355,462 shares of the company’s stock were exchanged, compared to its average volume of 245,858. The company has a quick ratio of 3.39, a current ratio of 3.51 and a debt-to-equity ratio of 0.01. The stock has a market cap of $1.10 billion, a PE ratio of 31.81, a PEG ratio of 2.00 and a beta of 0.06. The stock’s fifty day simple moving average is $30.10. K12 has a 52-week low of $16.12 and a 52-week high of $37.43.

K12 (NYSE:LRN) last announced its earnings results on Tuesday, August 6th. The company reported $0.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.03 by $0.05. The business had revenue of $256.31 million for the quarter, compared to analyst estimates of $248.43 million. K12 had a net margin of 3.66% and a return on equity of 6.19%. The company’s revenue for the quarter was up 7.3% compared to the same quarter last year. During the same period last year, the firm posted $0.23 earnings per share. As a group, equities analysts forecast that K12 will post 0.91 EPS for the current year.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Investors Research Corp acquired a new stake in shares of K12 during the first quarter worth $27,000. Financial Gravity Wealth Inc. acquired a new stake in shares of K12 during the second quarter worth $28,000. Meeder Asset Management Inc. lifted its holdings in shares of K12 by 262.1% during the second quarter. Meeder Asset Management Inc. now owns 1,434 shares of the company’s stock worth $43,000 after purchasing an additional 1,038 shares during the period. FinTrust Capital Advisors LLC acquired a new stake in shares of K12 during the second quarter worth $61,000. Finally, FNY Investment Advisers LLC lifted its holdings in shares of K12 by 539.8% during the first quarter. FNY Investment Advisers LLC now owns 2,700 shares of the company’s stock worth $92,000 after purchasing an additional 2,278 shares during the period. 86.56% of the stock is owned by hedge funds and other institutional investors.

About K12

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.

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