Career Education (CECO) Lowered to “Sell” at BidaskClub

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Career Education (NASDAQ:CECO) was downgraded by analysts at BidaskClub from a “hold” rating to a “sell” rating in a note issued to investors on Saturday.

Several other equities research analysts also recently weighed in on CECO. Zacks Investment Research upgraded shares of Career Education from a “hold” rating to a “buy” rating and set a $16.00 target price for the company in a research note on Wednesday, May 16th. ValuEngine raised shares of Career Education from a “buy” rating to a “strong-buy” rating in a report on Tuesday, May 22nd. Finally, Piper Jaffray Companies reaffirmed a “hold” rating and issued a $19.50 target price on shares of Career Education in a report on Thursday, August 2nd. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and two have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $18.83.

Shares of CECO opened at $15.07 on Friday. Career Education has a fifty-two week low of $9.00 and a fifty-two week high of $19.07. The stock has a market cap of $1.07 billion, a PE ratio of 48.61, a price-to-earnings-growth ratio of 1.77 and a beta of 2.54.

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

In other news, insider Michele A. Peppers sold 5,001 shares of the firm’s stock in a transaction that occurred on Thursday, August 30th. The shares were sold at an average price of $15.97, for a total transaction of $79,865.97. Following the completion of the transaction, 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 filing with the SEC, which is available at the SEC website. Also, Director Richard D. Wang sold 250,000 shares of the firm’s stock in a transaction that occurred on Friday, September 7th. The stock was sold at an average price of $15.21, for a total transaction of $3,802,500.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 360,776 shares of company stock valued at $5,541,154. 5.01% of the stock is currently owned by corporate insiders.

Several institutional investors and hedge funds have recently modified their holdings of CECO. FMR LLC purchased a new position in shares of Career Education during the 2nd quarter worth approximately $27,152,000. BlackRock Inc. increased its stake in shares of Career Education by 9.5% during the 2nd quarter. BlackRock Inc. now owns 9,361,124 shares of the company’s stock worth $151,368,000 after purchasing an additional 815,638 shares in the last quarter. Park West Asset Management LLC increased its stake in shares of Career Education by 392.8% during the 1st quarter. Park West Asset Management LLC now owns 690,751 shares of the company’s stock worth $9,076,000 after purchasing an additional 550,583 shares in the last quarter. Millennium Management LLC increased its stake in shares of Career Education by 330.4% during the 2nd quarter. Millennium Management LLC now owns 582,500 shares of the company’s stock worth $9,419,000 after purchasing an additional 447,159 shares in the last quarter. Finally, Renaissance Technologies LLC increased its stake in shares of Career Education by 6.5% during the 2nd quarter. Renaissance Technologies LLC now owns 4,497,662 shares of the company’s stock worth $72,727,000 after purchasing an additional 273,900 shares in the last quarter. 81.56% of the stock is owned by institutional investors and hedge funds.

Career Education Company Profile

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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