Zacks Investment Research upgraded shares of Grand Canyon Education (NASDAQ:LOPE) from a hold rating to a buy rating in a report issued on Wednesday. The firm currently has $105.00 price objective on the stock.
According to Zacks, “Grand Canyon Education, Inc. is a regionally accredited provider of online postsecondary education services focused on offering graduate and undergraduate degree programs in its core disciplines of education, business, and healthcare. In addition to its online programs, it offers programs at its traditional campus in Phoenix, Arizona and onsite at the facilities of employers. “
LOPE has been the topic of several other reports. BidaskClub downgraded shares of Grand Canyon Education from a buy rating to a hold rating in a report on Friday, September 14th. Barrington Research reaffirmed a buy rating and issued a $150.00 price objective on shares of Grand Canyon Education in a report on Tuesday, December 18th. Finally, Robert W. Baird upped their price objective on shares of Grand Canyon Education from $125.00 to $141.00 and gave the company an outperform rating in a report on Friday, November 9th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and five have given a buy rating to the company’s stock. The stock presently has a consensus rating of Buy and an average target price of $131.40.
Grand Canyon Education stock traded up $0.03 during mid-day trading on Wednesday, reaching $94.03. 11,331 shares of the company traded hands, compared to its average volume of 484,300. The company has a current ratio of 4.65, a quick ratio of 4.65 and a debt-to-equity ratio of 0.05. Grand Canyon Education has a fifty-two week low of $85.14 and a fifty-two week high of $130.10. The firm has a market capitalization of $4.58 billion, a price-to-earnings ratio of 23.75, a PEG ratio of 1.16 and a beta of 1.09.
Grand Canyon Education (NASDAQ:LOPE) last issued its quarterly earnings results on Thursday, November 8th. The company reported $1.06 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.99 by $0.07. Grand Canyon Education had a net margin of 23.60% and a return on equity of 21.66%. The business had revenue of $155.45 million for the quarter, compared to analyst estimates of $153.31 million. During the same quarter in the prior year, the business posted $0.81 EPS. Grand Canyon Education’s revenue for the quarter was down 34.2% compared to the same quarter last year. On average, sell-side analysts predict that Grand Canyon Education will post 4.88 EPS for the current fiscal year.
In related news, CEO Brian E. Mueller sold 30,000 shares of the stock in a transaction on Monday, November 12th. The shares were sold at an average price of $127.00, for a total transaction of $3,810,000.00. Following the sale, the chief executive officer now directly owns 308,739 shares of the company’s stock, valued at $39,209,853. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Joseph N. Mildenhall sold 2,000 shares of the stock in a transaction on Tuesday, December 11th. The stock was sold at an average price of $110.71, for a total transaction of $221,420.00. Following the sale, the insider now directly owns 77,402 shares in the company, valued at $8,569,175.42. The disclosure for this sale can be found here. Insiders have sold 96,000 shares of company stock worth $11,452,970 over the last three months. 2.40% of the stock is currently owned by insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. FIL Ltd boosted its holdings in Grand Canyon Education by 2.0% during the third quarter. FIL Ltd now owns 1,929,082 shares of the company’s stock worth $217,600,000 after buying an additional 38,139 shares in the last quarter. William Blair Investment Management LLC boosted its holdings in Grand Canyon Education by 6.2% during the third quarter. William Blair Investment Management LLC now owns 1,708,980 shares of the company’s stock worth $192,773,000 after buying an additional 99,526 shares in the last quarter. Handelsbanken Fonder AB boosted its holdings in Grand Canyon Education by 2.2% during the third quarter. Handelsbanken Fonder AB now owns 1,215,290 shares of the company’s stock worth $137,085,000 after buying an additional 26,000 shares in the last quarter. Renaissance Technologies LLC raised its position in Grand Canyon Education by 24.7% during the third quarter. Renaissance Technologies LLC now owns 1,050,700 shares of the company’s stock worth $118,519,000 after acquiring an additional 208,400 shares during the period. Finally, Victory Capital Management Inc. raised its position in Grand Canyon Education by 70.6% during the third quarter. Victory Capital Management Inc. now owns 836,261 shares of the company’s stock worth $94,330,000 after acquiring an additional 346,017 shares during the period. 94.90% of the stock is currently owned by hedge funds and other institutional investors.
Grand Canyon Education Company Profile
Grand Canyon Education, Inc, together with its subsidiaries, provides education services in the United States and Canada. The company operates Grand Canyon University that offers approximately 225 graduate and undergraduate degree programs and certificates across 9 colleges online and on ground through campus in Phoenix, Arizona; leased facilities; and facilities owned by third party employers.
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