Phoenix Education Partners (NYSE:PXED) Cut to Market Perform at Barrington Research

Barrington Research lowered shares of Phoenix Education Partners (NYSE:PXED) from an outperform rating to a market perform rating in a research report report published on Wednesday morning, Marketbeat reports.

A number of other analysts have also weighed in on PXED. B. Riley Financial lowered shares of Phoenix Education Partners from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $44.00 to $25.00 in a research note on Wednesday. BMO Capital Markets dropped their target price on shares of Phoenix Education Partners from $36.00 to $33.00 and set an “outperform” rating on the stock in a research note on Monday, October 5th. Truist Financial dropped their target price on shares of Phoenix Education Partners from $38.00 to $23.00 and set a “hold” rating on the stock in a research note on Wednesday. Zacks Research upgraded shares of Phoenix Education Partners from a “strong sell” rating to a “hold” rating in a report on Thursday, October 1st. Finally, Morgan Stanley downgraded shares of Phoenix Education Partners from an “overweight” rating to an “equal weight” rating and set a $28.00 price target for the company. in a research report on Wednesday. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, five have given a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, Phoenix Education Partners currently has a consensus rating of “Hold” and an average target price of $31.67.

Phoenix Education Partners Stock Down 8.6%

Shares of NYSE PXED traded down $1.85 during trading on Wednesday, reaching $19.66. The company had a trading volume of 226,743 shares, compared to its average volume of 97,603. Phoenix Education Partners has a 12-month low of $19.55 and a 12-month high of $35.90. The company has a quick ratio of 1.92, a current ratio of 1.91 and a debt-to-equity ratio of 0.17. The business’s 50-day moving average is $25.53 and its 200 day moving average is $28.70. The stock has a market cap of $708.60 million and a PE ratio of 8.58.

Phoenix Education Partners (NYSE:PXED) last posted its quarterly earnings results on Tuesday, November 3rd. The company reported $1.07 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.07. The firm had revenue of $260.68 million during the quarter. Phoenix Education Partners had a return on equity of 60.06% and a net margin of 8.18%. As a group, equities analysts forecast that Phoenix Education Partners will post 3.94 earnings per share for the current fiscal year.

Phoenix Education Partners Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 27th. Investors of record on Friday, November 13th will be issued a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 4.7%. The ex-dividend date is Friday, November 13th. This is a positive change from Phoenix Education Partners’s previous quarterly dividend of $0.21. Phoenix Education Partners’s dividend payout ratio is 36.68%.

Insiders Place Their Bets

In other Phoenix Education Partners news, insider John Woods sold 19,453 shares of the business’s stock in a transaction dated Friday, October 9th. The stock was sold at an average price of $25.89, for a total value of $503,638.17. Following the completion of the transaction, the insider owned 62,682 shares of the company’s stock, valued at approximately $1,622,836.98. The trade was a 23.68% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last ninety days, insiders sold 20,703 shares of company stock valued at $534,904. 5.00% of the stock is currently owned by insiders.

Institutional Trading of Phoenix Education Partners

A number of institutional investors have recently made changes to their positions in the stock. Public Employees Retirement System of Ohio purchased a new stake in shares of Phoenix Education Partners during the 2nd quarter valued at about $26,000. Legal & General Group Plc purchased a new position in shares of Phoenix Education Partners during the second quarter valued at approximately $64,000. State of Alaska Department of Revenue purchased a new position in shares of Phoenix Education Partners during the third quarter valued at approximately $51,000. State of Wyoming bought a new position in Phoenix Education Partners during the second quarter valued at approximately $78,000. Finally, Walleye Capital LLC lifted its position in Phoenix Education Partners by 23.7% during the first quarter. Walleye Capital LLC now owns 16,162 shares of the company’s stock valued at $508,000 after purchasing an additional 3,097 shares during the period.

Phoenix Education Partners Company Profile

Phoenix Education Partners, Inc is a higher education company focused on serving working adults and other nontraditional students. Through the University of Phoenix, its principal operating institution, the company provides career-oriented undergraduate and graduate degree programs, professional certificates, and other educational offerings.

The University of Phoenix primarily delivers instruction through online learning, with programs designed to offer flexible scheduling for students balancing education with employment and other responsibilities.