Zacks Investment Research Upgrades Bridgepoint Education Inc. (BPI) to “Buy”
Bridgepoint Education Inc. (NYSE:BPI) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Thursday. The brokerage currently has a $9.50 price objective on the stock. Zacks Investment Research’s price objective would suggest a potential upside of 5.32% from the company’s previous close.
According to Zacks, “Bridgepoint Education, Inc. provides postsecondary education services. It offers associate’s, bachelor’s, master’s, and doctoral programs in the disciplines of business, education, psychology, social sciences, and health sciences. The Company delivers its programs online, as well as at its traditional campuses located in Clinton, Iowa and Colorado Springs, Colorado. Headquartered in San Diego, California, the company was founded on the principle that those who are academically prepared deserve access to an affordable higher education without sacrificing quality, transferability of credits, accessibility and academic standards. “
Bridgepoint Education (NYSE:BPI) opened at 9.02 on Thursday. The firm has a 50 day moving average of $6.94 and a 200-day moving average of $7.52. The stock’s market cap is $417.75 million. Bridgepoint Education has a 52-week low of $5.38 and a 52-week high of $10.93.
Bridgepoint Education (NYSE:BPI) last announced its quarterly earnings data on Tuesday, November 8th. The company reported $0.09 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.09. The firm earned $136.58 million during the quarter, compared to analysts’ expectations of $134.73 million. Bridgepoint Education had a negative net margin of 4.26% and a positive return on equity of 3.69%. The company’s revenue for the quarter was down 3.0% compared to the same quarter last year. During the same period in the prior year, the company posted $0.13 earnings per share. Equities analysts anticipate that Bridgepoint Education will post $0.16 earnings per share for the current fiscal year.
Hedge funds have recently made changes to their positions in the company. Citadel Advisors LLC boosted its stake in shares of Bridgepoint Education by 27.8% in the third quarter. Citadel Advisors LLC now owns 93,515 shares of the company’s stock worth $642,000 after buying an additional 20,325 shares during the period. Springhouse Capital Management LP purchased a new stake in shares of Bridgepoint Education during the third quarter worth about $332,000. Northern Trust Corp boosted its stake in shares of Bridgepoint Education by 1.9% in the third quarter. Northern Trust Corp now owns 195,598 shares of the company’s stock worth $1,344,000 after buying an additional 3,726 shares during the period. California State Teachers Retirement System boosted its stake in shares of Bridgepoint Education by 1.1% in the third quarter. California State Teachers Retirement System now owns 37,829 shares of the company’s stock worth $260,000 after buying an additional 400 shares during the period. Finally, BlackRock Institutional Trust Company N.A. boosted its stake in shares of Bridgepoint Education by 1.2% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 428,964 shares of the company’s stock worth $2,947,000 after buying an additional 5,063 shares during the period. 95.03% of the stock is owned by hedge funds and other institutional investors.
Bridgepoint Education Company Profile
Bridgepoint Education, Inc (Bridgepoint) is a provider of postsecondary education services. The Company’s academic institutions include Ashford University and University of the Rockies, which offer associate’s, bachelor’s, master’s and doctoral programs online, as well as at the campuses located in Iowa and Colorado, respectively.
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