Zacks Investment Research cut shares of Grand Canyon Education (NASDAQ:LOPE) from a buy rating to a hold rating in a report issued on Thursday.
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. “
Other equities analysts have also issued reports about the company. Barrington Research reaffirmed a buy rating and set a $150.00 price target on shares of Grand Canyon Education in a research note on Tuesday, December 18th. BidaskClub lowered Grand Canyon Education from a strong-buy rating to a buy rating in a research note on Friday, November 16th. Finally, Robert W. Baird decreased their target price on Grand Canyon Education from $141.00 to $130.00 and set an outperform rating on the stock in a report on Wednesday, December 19th. One analyst has rated the stock with a sell rating, one has given a hold rating and five have given a buy rating to the company. Grand Canyon Education currently has an average rating of Buy and a consensus price target of $131.40.
NASDAQ LOPE traded down $1.25 on Thursday, reaching $93.66. 343,700 shares of the stock traded hands, compared to its average volume of 457,063. The company has a debt-to-equity ratio of 0.05, a quick ratio of 4.65 and a current ratio of 4.65. The firm has a market cap of $4.52 billion, a P/E ratio of 23.65, a PEG ratio of 1.14 and a beta of 1.09. Grand Canyon Education has a 12 month low of $85.14 and a 12 month high of $130.10.
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 analysts’ consensus estimates of $0.99 by $0.07. The firm had revenue of $155.45 million during the quarter, compared to analyst estimates of $153.31 million. Grand Canyon Education had a return on equity of 21.66% and a net margin of 23.60%. The firm’s quarterly revenue was down 34.2% on a year-over-year basis. During the same period last year, the company posted $0.81 EPS. On average, research analysts predict that Grand Canyon Education will post 4.88 earnings per share for the current fiscal year.
In related news, insider Dilek Marsh sold 4,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 13th. The shares were sold at an average price of $126.00, for a total value of $504,000.00. Following the completion of the transaction, the insider now owns 82,752 shares of the company’s stock, valued at approximately $10,426,752. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, COO William Stan Meyer sold 15,000 shares of the firm’s stock in a transaction that occurred on Monday, November 12th. The stock was sold at an average price of $127.00, for a total transaction of $1,905,000.00. Following the completion of the transaction, the chief operating officer now directly owns 112,261 shares of the company’s stock, valued at approximately $14,257,147. The disclosure for this sale can be found here. Insiders sold a total of 96,000 shares of company stock valued at $11,452,970 in the last ninety days. Company insiders own 2.40% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the business. Legal & General Group Plc boosted its stake in shares of Grand Canyon Education by 1.2% in the 3rd quarter. Legal & General Group Plc now owns 25,133 shares of the company’s stock valued at $2,835,000 after purchasing an additional 288 shares in the last quarter. Blair William & Co. IL increased its stake in shares of Grand Canyon Education by 10.1% in the 3rd quarter. Blair William & Co. IL now owns 4,773 shares of the company’s stock valued at $538,000 after acquiring an additional 437 shares in the last quarter. Polen Capital Management LLC increased its stake in shares of Grand Canyon Education by 9.2% in the 3rd quarter. Polen Capital Management LLC now owns 5,332 shares of the company’s stock valued at $601,000 after acquiring an additional 449 shares in the last quarter. Pendal Group Ltd increased its stake in shares of Grand Canyon Education by 11.3% in the 3rd quarter. Pendal Group Ltd now owns 4,668 shares of the company’s stock valued at $527,000 after acquiring an additional 475 shares in the last quarter. Finally, Strs Ohio increased its stake in shares of Grand Canyon Education by 13.9% in the 3rd quarter. Strs Ohio now owns 3,942 shares of the company’s stock valued at $444,000 after acquiring an additional 482 shares in the last quarter. 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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