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Have you been paying attention to shares of K12 (LRN)? Shares have been on the move with the stock up 2.3% over the past month. The stock hit a new 52-week high of $84.2 in the previous session. K12 has gained 38.1% since the start of the year compared to the 0.9% move for the Zacks Consumer Discretionary sector and the -1.4% return for the Zacks Schools industry.
What's Driving the Outperformance?
The stock has an impressive record of positive earnings surprises, as it hasn't missed our earnings consensus estimate in any of the last four quarters. In its last earnings report on August 6, 2024, K12 reported EPS of $1.42 versus consensus estimate of $1.3.
For the current fiscal year, K12 is expected to post earnings of $5.05 per share on $2.17 billion in revenues. This represents a 7.68% change in EPS on a 6.28% change in revenues. For the next fiscal year, the company is expected to earn $5.64 per share on $2.31 billion in revenues. This represents a year-over-year change of 11.81% and 6.65%, respectively.
Valuation Metrics
K12 may be at a 52-week high right now, but what might the future hold for the stock? A key aspect of this question is taking a look at valuation metrics in order to determine if the company is due for a pullback from this level.
On this front, we can look at the Zacks Style Scores, as they provide investors with an additional way to sort through stocks (beyond looking at the Zacks Rank of a security). These styles are represented by grades running from A to F in the categories of Value, Growth, and Momentum, while there is a combined VGM Score as well. The idea behind the style scores is to help investors pick the most appropriate Zacks Rank stocks based on their individual investment style.
K12 has a Value Score of A. The stock's Growth and Momentum Scores are A and F, respectively, giving the company a VGM Score of A.
In terms of its value breakdown, the stock currently trades at 16.3X current fiscal year EPS estimates, which is not in-line with the peer industry average of 19X. On a trailing cash flow basis, the stock currently trades at 11.2X versus its peer group's average of 9.8X. Additionally, the stock has a PEG ratio of 0.81. This isn't enough to put the company in the top echelon of all stocks we cover from a value perspective.
Zacks Rank
We also need to consider the stock's Zacks Rank, as this supersedes any trend on the style score front. Fortunately, K12 currently has a Zacks Rank of #2 (Buy) thanks to rising earnings estimates.
Since we recommend that investors select stocks carrying Zacks Rank of 1 (Strong Buy) or 2 (Buy) and Style Scores of A or B, it looks as if K12 passes the test. Thus, it seems as though K12 shares could have potential in the weeks and months to come.
How Does LRN Stack Up to the Competition?
Shares of LRN have been soaring, and the company still appears to be a decent choice, but what about the rest of the industry? One industry peer that looks good is Grand Canyon Education, Inc. (LOPE). LOPE has a Zacks Rank of # 2 (Buy) and a Value Score of C, a Growth Score of A, and a Momentum Score of D.
Earnings were strong last quarter. Grand Canyon Education, Inc. beat our consensus estimate by 16.51%, and for the current fiscal year, LOPE is expected to post earnings of $7.98 per share on revenue of $1.03 billion.
Shares of Grand Canyon Education, Inc. have gained 1% over the past month, and currently trade at a forward P/E of 17.77X and a P/CF of 17.43X.
The Schools industry is in the top 21% of all the industries we have in our universe, so it looks like there are some nice tailwinds for LRN and LOPE, even beyond their own solid fundamental situation.
Zacks Investment Research
PowerSchool Holdings, Inc. PWSC, a leader in cloud-based software for K-12 education, has announced two new AI-driven tools, PowerBuddy for College and Career and PowerBuddy for Custom AI. These tools aim to revolutionize the way students, families, and school districts access and manage information, potentially driving further growth for PWSC stock.
PWSC’s AI Tools to Transform College and Career Planning
PowerBuddy for College and Career helps students take control of their future planning by offering personalized guidance based on their unique needs. This AI assistant uses longitudinal student data to provide real-time responses about career paths, college options, scholarships, and more. With natural language interactions, students can easily access relevant information without wasting time sifting through resources.
The assistant is designed to reduce the burden on school counselors, who often manage far more students than recommended. By offering a self-service platform for students to explore postsecondary options, PowerBuddy allows counselors to focus on higher-impact areas of support.
PWSC’s AI Tools to Enhance School District Efficiency
PowerBuddy for Custom AI is designed to streamline how school districts interact with their communities. By providing real-time answers to district-specific queries — ranging from policy manuals to athletic schedules — this tool saves both time and effort for families and staff. The AI assistant ensures users receive approved, accurate information from the district’s knowledge base, reducing the need for manual searches.
Given that only 23% of educators feel partnerships with parents have strengthened since the pandemic, PowerBuddy’s ability to improve communication and accessibility could significantly impact school district adoption of PowerSchool’s software, boosting the company's growth trajectory and stock appeal.
Both PowerBuddy tools are built on PowerSchool’s Responsible AI principles, with a strong focus on privacy and security. The company’s commitment to secure, efficient, and personalized technology could strengthen PowerSchool’s foothold in the education technology space.
As districts and schools seek more efficient ways to manage operations and student support, these AI-driven innovations could drive higher adoption rates of PowerSchool’s offerings, positively impacting PWSC stock.
PWSC Stock Performance
Shares of this cloud-based education software provider have gained 8.5% in the past six months against the Zacks Schools industry’s 9.1% decline. The company has been benefiting from the continuous strength in the market demand for its suite of mission-critical products, along with its focus on operating leverage. Furthermore, its advanced AI solutions enhancements and opportunities in its market bode well for PWSC’s prospects.
Considering the estimate revision trend, the Zacks Consensus Estimate for 2024 and third-quarter earnings per share (EPS) of PWSC have trended upward to 90 cents (from 63 cents) and 25 cents (from 18 cents) over the past 60 days, respectively. The estimated figures indicate 9.8% and 4.2% growth, respectively, from the year-ago period’s reported levels. Such an uptrend depicts analysts’ optimism about the stock’s potential.
In June 2024, PowerSchool entered into a definitive agreement to be acquired by one of the world’s leading private multi-asset alternative investment firms, Bain Capital. The transaction, valued at $5.6 billion, is expected to close in the second half of 2024, subject to customary closing conditions, including regulatory approvals. Although PWSC is set to be acquired, it will continue to remain a standalone company with no interruptions in its business operations and customer service.
PWSC Zacks Rank
PowerSchool currently carries a Zacks Rank #3 (Hold).
Key Picks
Here are some better-ranked stocks from the Zacks Consumer Discretionary sector:
Stride, Inc. LRN presently carries a Zacks Rank of 2 (Buy). LRN has a trailing four-quarter earnings surprise of 40.3%, on average. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
LRN shares have gained 31.8% in the past six months. The consensus estimate for LRN’s fiscal 2025 sales and EPS implies a rise of 6.3% and 7.7%, respectively, from the year-ago levels.
Grand Canyon Education, Inc. LOPE, currently carrying a Zacks Rank #2, has a trailing four-quarter earnings surprise of 10.2%, on average.
LOPE shares have gained 6.5% in the past six months. LOPE has seen an upward estimate revision for 2024 earnings to $7.98 per share from $7.80 over the past 60 days. This company’s earnings for 2024 are expected to register 13.4% growth from a year ago.
Lincoln Educational Services Corporation LINC, currently carrying a Zacks Rank #2, has a trailing four-quarter earnings surprise of 249.4%, on average.
LRN shares have gained 24.5% in the past six months. LINC has seen an upward estimate revision for 2024 earnings to 51 cents per share from 48 cents over the past 60 days. This company’s earnings for 2024 are expected to register 4.1% growth from a year ago.
Zacks Investment Research
While the proven Zacks Rank places an emphasis on earnings estimates and estimate revisions to find strong stocks, we also know that investors tend to develop their own individual strategies. With this in mind, we are always looking at value, growth, and momentum trends to discover great companies.
Of these, perhaps no stock market trend is more popular than value investing, which is a strategy that has proven to be successful in all sorts of market environments. Value investors rely on traditional forms of analysis on key valuation metrics to find stocks that they believe are undervalued, leaving room for profits.
Luckily, Zacks has developed its own Style Scores system in an effort to find stocks with specific traits. Value investors will be interested in the system's "Value" category. Stocks with both "A" grades in the Value category and high Zacks Ranks are among the strongest value stocks on the market right now.
One stock to keep an eye on is Stride (LRN). LRN is currently sporting a Zacks Rank of #2 (Buy), as well as a Value grade of A. The stock is trading with P/E ratio of 15.64 right now. For comparison, its industry sports an average P/E of 18.67. LRN's Forward P/E has been as high as 16.33 and as low as 12.10, with a median of 13.72, all within the past year.
We also note that LRN holds a PEG ratio of 0.78. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. LRN's PEG compares to its industry's average PEG of 1.05. LRN's PEG has been as high as 0.82 and as low as 0.61, with a median of 0.69, all within the past year.
We should also highlight that LRN has a P/B ratio of 2.97. Investors use the P/B ratio to look at a stock's market value versus its book value, which is defined as total assets minus total liabilities. LRN's current P/B looks attractive when compared to its industry's average P/B of 3.29. Over the past 12 months, LRN's P/B has been as high as 3.08 and as low as 1.97, with a median of 2.60.
These figures are just a handful of the metrics value investors tend to look at, but they help show that Stride is likely being undervalued right now. Considering this, as well as the strength of its earnings outlook, LRN feels like a great value stock at the moment.
Zacks Investment Research
Flexsteel Industries, Inc. FLXS announced a hike of more than 13% in its quarterly cash dividend. The largest manufacturer, importer, and marketer of residential furniture products will pay out a quarterly dividend of 17 cents per share on Oct. 7, 2024, to shareholders on record as of Sept. 25.
The company currently has a dividend payout ratio of 28% and a dividend yield of 1.5%, based on the closing share price of $39.80 on Sept. 10. This marks the company’s 331st consecutive quarterly cash dividend.
With the recent move, FLXS is maintaining its commitment to increase stockholders’ returns. The dividend increase reflects FLXS’ sound and stable financial position and commitment to rewarding shareholders amid industry-wide challenges.
What’s Driving FLXS’ Growth?
Flexsteel has been paying cash dividends for decades. It has been consistently sharing its cash flows with shareholders and maintaining a strong financial position. The company ended fourth-quarter fiscal 2024 (ended June 30, 2024) with cash and cash equivalents of $4.8 million compared with $3.4 million at fiscal 2023-end. The company has sufficient funds to meet the short-term obligation of $7.52 million. Operating lease liabilities, net of the current portion, at June-end, was $58.1 million, down from $65 million at fiscal 2023-end.
Additionally, cash provided by operating activities was $31.9 million for fiscal 2024 compared with $23 million a year ago. This reflects improved levels of cash flow for the year.
Investors always prefer a return-generating stock. A high-dividend-yielding one is much coveted. It goes without saying that stockholders are always on the lookout for companies with a track record of consistent and incremental dividend payments.
Shares of the company have skyrocketed 111.1% so far this year compared with the industry‘s 23.4% growth. FLXS has effectively managed its operations. It has capitalized on sustained productivity and cost-saving measures, maintained pricing discipline, and actively managed its product portfolio to its advantage. The company is expected to benefit from its growth strategy and new product introductions.
Despite ongoing challenges in the industry, primarily stemming from changes in consumer spending preferences away from home furnishings, the company expects net sales growth of 5-10% year over year in the first quarter of fiscal 2025. The same is expected to rise 2-6% in fiscal 2025. Read more: (Flexsteel Q4 Earnings and Sales Beat Estimates, Up Y/Y)
FLXS' Zacks Rank & Key Picks
FLXS currently carries a Zacks Rank #3 (Hold).
Grand Canyon Education, Inc. LOPE, currently carrying a Zacks Rank #2 (Buy), has been benefiting from online, as well as hybrid enrollment growth. The online platform continues to perform well, attributed to the introduction of 148 new programs, many of which address current labor market needs such as healthcare and cybersecurity. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
LOPE has seen an upward estimate revision for 2024 earnings to $7.98 per share from $7.80 over the past 60 days. This company’s earnings for 2024 are expected to register 13.4% growth from a year ago.
Stride, Inc. LRN, currently carrying a Zacks Rank #2, has been gaining from higher enrollment, expanding product offerings and Middle - High School learning growth. Consistent demand for online learning options has been benefiting Stride’s top line in recent times.
LRN has seen an upward estimate revision for fiscal 2025 earnings to $5.05 per share from $5.02 over the past 60 days. The company’s earnings for fiscal 2025 are expected to grow 7.7%.
Lincoln Educational Services Corporation LINC, currently carrying a Zacks Rank #2, has been gaining from transformational growth strategies, which align with rising public interest in alternative education pathways and employer demand for skilled labor amid a workforce skills gap. Strategic expansions, corporate partnerships, and the innovative Lincoln 10.0 platform are driving positive momentum.
LINC has seen an upward estimate revision for 2024 earnings to 51 cents per share from 48 cents over the past 30 days. This company’s earnings for 2024 are expected to register 4.1% growth from a year ago.
Zacks Investment Research
Investors looking for stocks in the Schools sector might want to consider either K12 (LRN) or Grand Canyon Education (LOPE). But which of these two stocks is more attractive to value investors? We'll need to take a closer look to find out.
Everyone has their own methods for finding great value opportunities, but our model includes pairing an impressive grade in the Value category of our Style Scores system with a strong Zacks Rank. The proven Zacks Rank puts an emphasis on earnings estimates and estimate revisions, while our Style Scores work to identify stocks with specific traits.
K12 and Grand Canyon Education are both sporting a Zacks Rank of # 2 (Buy) right now. This means that both companies have witnessed positive earnings estimate revisions, so investors should feel comfortable knowing that both of these stocks have an improving earnings outlook. However, value investors will care about much more than just this.
Value investors analyze a variety of traditional, tried-and-true metrics to help find companies that they believe are undervalued at their current share price levels.
The Value category of the Style Scores system identifies undervalued companies by looking at a number of key metrics. These include the long-favored P/E ratio, P/S ratio, earnings yield, cash flow per share, and a variety of other fundamentals that help us determine a company's fair value.
LRN currently has a forward P/E ratio of 15.47, while LOPE has a forward P/E of 17.27. We also note that LRN has a PEG ratio of 0.77. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. LOPE currently has a PEG ratio of 1.15.
Another notable valuation metric for LRN is its P/B ratio of 2.87. The P/B ratio pits a stock's market value against its book value, which is defined as total assets minus total liabilities. For comparison, LOPE has a P/B of 5.40.
Based on these metrics and many more, LRN holds a Value grade of A, while LOPE has a Value grade of C.
Both LRN and LOPE are impressive stocks with solid earnings outlooks, but based on these valuation figures, we feel that LRN is the superior value option right now.
Zacks Investment Research
Investors interested in Consumer Discretionary stocks should always be looking to find the best-performing companies in the group. K12 (LRN) is a stock that can certainly grab the attention of many investors, but do its recent returns compare favorably to the sector as a whole? A quick glance at the company's year-to-date performance in comparison to the rest of the Consumer Discretionary sector should help us answer this question.
K12 is a member of our Consumer Discretionary group, which includes 277 different companies and currently sits at #11 in the Zacks Sector Rank. The Zacks Sector Rank gauges the strength of our 16 individual sector groups by measuring the average Zacks Rank of the individual stocks within the groups.
The Zacks Rank emphasizes earnings estimates and estimate revisions to find stocks with improving earnings outlooks. This system has a long record of success, and these stocks tend to be on track to beat the market over the next one to three months. K12 is currently sporting a Zacks Rank of #2 (Buy).
Over the past three months, the Zacks Consensus Estimate for LRN's full-year earnings has moved 0.6% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Based on the latest available data, LRN has gained about 31.5% so far this year. In comparison, Consumer Discretionary companies have returned an average of 2.2%. This means that K12 is outperforming the sector as a whole this year.
Another stock in the Consumer Discretionary sector, Royal Caribbean (RCL), has outperformed the sector so far this year. The stock's year-to-date return is 22.3%.
For Royal Caribbean, the consensus EPS estimate for the current year has increased 5% over the past three months. The stock currently has a Zacks Rank #1 (Strong Buy).
Looking more specifically, K12 belongs to the Schools industry, which includes 18 individual stocks and currently sits at #74 in the Zacks Industry Rank. On average, stocks in this group have lost 3.8% this year, meaning that LRN is performing better in terms of year-to-date returns.
Royal Caribbean, however, belongs to the Leisure and Recreation Services industry. Currently, this 30-stock industry is ranked #140. The industry has moved -0.8% so far this year.
Investors with an interest in Consumer Discretionary stocks should continue to track K12 and Royal Caribbean. These stocks will be looking to continue their solid performance.
Zacks Investment Research
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