Grand Canyon Education Inc. (LOPE) Given Buy Rating at Credit Suisse Group AG
A number of other equities research analysts have also recently issued reports on LOPE. Zacks Investment Research upgraded Grand Canyon Education from a hold rating to a buy rating and set a $44.00 price objective on the stock in a research note on Wednesday, July 6th. Piper Jaffray Cos. boosted their price objective on Grand Canyon Education from $49.00 to $53.00 and gave the company an overweight rating in a research note on Friday, August 5th. Six research analysts have rated the stock with a buy rating, The company currently has a consensus rating of Buy and a consensus price target of $49.67.
Shares of Grand Canyon Education (NASDAQ:LOPE) traded up 0.47% during mid-day trading on Tuesday, hitting $40.30. 31,474 shares of the stock were exchanged. The stock’s 50 day moving average price is $41.20 and its 200-day moving average price is $41.88. The stock has a market capitalization of $1.86 billion, a P/E ratio of 13.30 and a beta of 1.10. Grand Canyon Education has a 12-month low of $31.12 and a 12-month high of $45.02.
Grand Canyon Education (NASDAQ:LOPE) last announced its quarterly earnings data on Thursday, August 4th. The company reported $0.59 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.54 by $0.05. Grand Canyon Education had a return on equity of 22.53% and a net margin of 17.25%. The business had revenue of $191.30 million for the quarter, compared to analysts’ expectations of $189.09 million. During the same period in the previous year, the business posted $0.55 EPS. The firm’s quarterly revenue was up 9.5% compared to the same quarter last year. On average, equities research analysts expect that Grand Canyon Education will post $3.08 EPS for the current fiscal year.
In other Grand Canyon Education news, insider Joseph N. Mildenhall sold 22,000 shares of the company’s stock in a transaction that occurred on Thursday, August 11th. The stock was sold at an average price of $43.36, for a total value of $953,920.00. Following the completion of the sale, the insider now owns 123,514 shares of the company’s stock, valued at $5,355,567.04. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO William Stan Meyer sold 25,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 10th. The stock was sold at an average price of $43.32, for a total value of $1,083,000.00. Following the completion of the sale, the chief operating officer now directly owns 126,862 shares of the company’s stock, valued at approximately $5,495,661.84. The disclosure for this sale can be found here. 5.30% of the stock is owned by company insiders.
Hedge funds have recently modified their holdings of the company. RS Investment Management Co. LLC increased its stake in shares of Grand Canyon Education by 5,587.7% in the second quarter. RS Investment Management Co. LLC now owns 771,084 shares of the company’s stock valued at $30,782,000 after buying an additional 757,527 shares during the last quarter. Goldman Sachs Group Inc. increased its stake in shares of Grand Canyon Education by 363.8% in the first quarter. Goldman Sachs Group Inc. now owns 180,000 shares of the company’s stock valued at $7,693,000 after buying an additional 141,194 shares during the last quarter. James Investment Research Inc. bought a new stake in shares of Grand Canyon Education during the second quarter valued at $240,000. HBK Investments L P increased its stake in shares of Grand Canyon Education by 91.1% in the first quarter. HBK Investments L P now owns 19,684 shares of the company’s stock valued at $841,000 after buying an additional 9,384 shares during the last quarter. Finally, Bayesian Capital Management LP bought a new stake in shares of Grand Canyon Education during the first quarter valued at $338,000. 99.59% of the stock is owned by institutional investors and hedge funds.
Grand Canyon Education Company Profile
Grand Canyon Education, Inc is a regionally accredited university. The Company offers approximately 200 graduate and undergraduate degree programs and certificates across approximately eight colleges both online and on ground in Phoenix, Arizona and at leased facilities and at facilities owned by third-party employers of its students.
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