Career Education (CECO) Rating Lowered to Buy at ValuEngine

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Career Education (NASDAQ:CECO) was downgraded by research analysts at ValuEngine from a “strong-buy” rating to a “buy” rating in a note issued to investors on Tuesday.

A number of other equities analysts have also issued reports on the company. Piper Jaffray Companies restated a “hold” rating and issued a $19.50 target price on shares of Career Education in a research note on Thursday, August 2nd. Zacks Investment Research lowered Career Education from a “hold” rating to a “sell” rating in a research note on Monday, August 6th. Finally, BidaskClub upgraded Career Education from a “sell” rating to a “hold” rating in a research note on Wednesday, May 30th. One analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company. Career Education currently has a consensus rating of “Hold” and an average price target of $18.83.

Shares of CECO stock opened at $15.40 on Tuesday. The firm has a market capitalization of $1.11 billion, a P/E ratio of 49.68, a PEG ratio of 1.83 and a beta of 2.56. Career Education has a 1 year low of $9.00 and a 1 year high of $19.07.

Career Education (NASDAQ:CECO) last issued its earnings results on Wednesday, August 1st. The company reported $0.12 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.20 by ($0.08). The firm had revenue of $142.04 million during the quarter, compared to analysts’ expectations of $141.15 million. Career Education had a positive return on equity of 12.05% and a negative net margin of 2.61%. The business’s revenue was down 2.9% on a year-over-year basis. During the same quarter last year, the business earned $0.07 EPS. analysts forecast that Career Education will post 0.87 earnings per share for the current fiscal year.

In other Career Education news, insider Michele A. Peppers sold 5,001 shares of the stock in a transaction dated Thursday, August 30th. The stock was sold at an average price of $15.97, for a total transaction of $79,865.97. Following the sale, the insider now directly owns 54,608 shares of the company’s stock, valued at approximately $872,089.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Gregory L. Jackson sold 21,828 shares of the stock in a transaction dated Wednesday, August 22nd. The stock was sold at an average price of $16.46, for a total value of $359,288.88. Following the sale, the director now directly owns 62,291 shares in the company, valued at $1,025,309.86. The disclosure for this sale can be found here. Insiders sold a total of 276,829 shares of company stock valued at $4,489,155 in the last 90 days. 5.70% of the stock is currently owned by company insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in CECO. First Mercantile Trust Co. grew its position in Career Education by 96.7% during the 1st quarter. First Mercantile Trust Co. now owns 33,171 shares of the company’s stock worth $436,000 after purchasing an additional 16,307 shares during the period. Northern Trust Corp grew its position in Career Education by 0.8% during the 1st quarter. Northern Trust Corp now owns 769,028 shares of the company’s stock worth $10,105,000 after purchasing an additional 5,822 shares during the period. BlackRock Inc. grew its position in Career Education by 1.6% during the 1st quarter. BlackRock Inc. now owns 8,545,486 shares of the company’s stock worth $112,287,000 after purchasing an additional 131,499 shares during the period. JPMorgan Chase & Co. grew its position in Career Education by 14.6% during the 1st quarter. JPMorgan Chase & Co. now owns 175,219 shares of the company’s stock worth $2,302,000 after purchasing an additional 22,389 shares during the period. Finally, Cambria Investment Management L.P. grew its position in Career Education by 225.0% during the 1st quarter. Cambria Investment Management L.P. now owns 35,489 shares of the company’s stock worth $466,000 after purchasing an additional 24,570 shares during the period. 81.56% of the stock is currently owned by institutional investors.

About Career Education

Career Education Corporation operates colleges, institutions, and universities that provide education to student population in various career-oriented disciplines through online, campus based, and blended learning programs in the United States. The company operates through three segments: Colorado Technical University (CTU), American InterContinental University (AIU), and All Other Campuses.

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