Zacks Investment Research cut shares of Grand Canyon Education, Inc. (NASDAQ:LOPE) from a buy rating to a hold rating in a report released on Wednesday, October 4th.
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. “
A number of other research firms have also recently commented on LOPE. BidaskClub cut shares of Grand Canyon Education from a strong-buy rating to a buy rating in a research note on Tuesday, June 27th. BMO Capital Markets reiterated a buy rating and issued a $85.00 target price on shares of Grand Canyon Education in a research note on Monday, September 18th. Barrington Research reiterated an outperform rating and issued a $89.00 target price (up from $85.00) on shares of Grand Canyon Education in a research note on Tuesday, August 8th. Finally, ValuEngine upgraded shares of Grand Canyon Education from a hold rating to a buy rating in a research note on Friday, September 1st. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The stock has an average rating of Buy and a consensus price target of $89.00.
Shares of Grand Canyon Education (NASDAQ:LOPE) opened at 89.27 on Wednesday. The firm has a market capitalization of $4.22 billion, a P/E ratio of 24.64 and a beta of 1.39. The company has a 50-day moving average price of $85.03 and a 200-day moving average price of $79.03. Grand Canyon Education has a 12-month low of $40.18 and a 12-month high of $93.08.
Grand Canyon Education (NASDAQ:LOPE) last released its quarterly earnings results on Tuesday, August 1st. The company reported $0.83 earnings per share for the quarter, beating analysts’ consensus estimates of $0.68 by $0.15. Grand Canyon Education had a net margin of 18.77% and a return on equity of 21.77%. The business had revenue of $218.30 million for the quarter, compared to analysts’ expectations of $213.08 million. During the same period last year, the business earned $0.59 EPS. The company’s revenue was up 14.1% compared to the same quarter last year. Equities analysts predict that Grand Canyon Education will post $3.83 EPS for the current year.
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In other news, insider Joseph N. Mildenhall sold 5,000 shares of Grand Canyon Education stock in a transaction that occurred on Wednesday, August 9th. The shares were sold at an average price of $80.17, for a total transaction of $400,850.00. Following the completion of the transaction, the insider now directly owns 88,798 shares of the company’s stock, valued at approximately $7,118,935.66. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, COO William Stan Meyer sold 1,315 shares of the business’s stock in a transaction on Thursday, August 10th. The stock was sold at an average price of $80.35, for a total transaction of $105,660.25. Following the completion of the sale, the chief operating officer now directly owns 99,774 shares of the company’s stock, valued at approximately $8,016,840.90. The disclosure for this sale can be found here. Insiders own 3.00% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Meeder Asset Management Inc. increased its holdings in Grand Canyon Education by 586.1% in the 2nd quarter. Meeder Asset Management Inc. now owns 1,434 shares of the company’s stock worth $112,000 after acquiring an additional 1,225 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Grand Canyon Education by 8.2% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,827 shares of the company’s stock worth $143,000 after acquiring an additional 139 shares in the last quarter. Fifth Third Bancorp increased its holdings in Grand Canyon Education by 10.8% in the 1st quarter. Fifth Third Bancorp now owns 2,262 shares of the company’s stock worth $162,000 after acquiring an additional 220 shares in the last quarter. Valley National Advisers Inc. increased its holdings in Grand Canyon Education by 23.8% in the 1st quarter. Valley National Advisers Inc. now owns 2,562 shares of the company’s stock worth $183,000 after acquiring an additional 492 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd purchased a new stake in Grand Canyon Education in the 1st quarter worth $207,000. 96.57% of the stock is owned by institutional investors.
Grand Canyon Education Company Profile
Grand Canyon Education, Inc is engaged in the provision of postsecondary education. The Company is a regionally accredited university. The Company offers the degrees, including Doctor of Education, Doctor of Business Administration, Doctor of Nursing Practice, Doctor of Philosophy, Education Specialist, Master of Divinity, Master of Arts, Master of Education, Master of Business Administration and Master of Public Administration, Master of Public Health, Master of Science, Bachelor of Arts, Bachelor of Science, and a range of programs for its degrees.
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