Zacks Investment Research upgraded shares of Grand Canyon Education, Inc. (NASDAQ:LOPE) from a hold rating to a buy rating in a report issued on Friday. Zacks Investment Research currently has $100.00 target price on the stock.
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 analysts have also issued research reports about the stock. BMO Capital Markets reiterated a buy rating and set a $85.00 price objective on shares of Grand Canyon Education in a research note on Monday, September 18th. ValuEngine upgraded shares of Grand Canyon Education from a hold rating to a buy rating in a research note on Friday, September 1st. BidaskClub lowered shares of Grand Canyon Education from a buy rating to a hold rating in a research note on Wednesday, July 19th. Robert W. Baird lifted their price objective on shares of Grand Canyon Education from $85.00 to $95.00 and gave the company an outperform rating in a research note on Thursday. Finally, Barrington Research reiterated an outperform rating and set a $103.00 price objective (up previously from $98.00) on shares of Grand Canyon Education in a research note on Thursday. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The company currently has an average rating of Buy and a consensus target price of $97.40.
Grand Canyon Education (NASDAQ:LOPE) traded down $0.30 during midday trading on Friday, reaching $88.54. 372,863 shares of the company traded hands, compared to its average volume of 283,909. Grand Canyon Education has a 52-week low of $47.06 and a 52-week high of $95.51. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.36 and a quick ratio of 1.33. The stock has a market capitalization of $4,260.63, a price-to-earnings ratio of 23.49, a price-to-earnings-growth ratio of 1.75 and a beta of 1.34.
Grand Canyon Education (NASDAQ:LOPE) last posted its quarterly earnings results on Wednesday, November 1st. The company reported $0.81 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.76 by $0.05. Grand Canyon Education had a net margin of 19.32% and a return on equity of 21.40%. The firm had revenue of $236.21 million for the quarter, compared to analyst estimates of $231.43 million. During the same quarter last year, the firm posted $0.62 earnings per share. Grand Canyon Education’s revenue for the quarter was up 12.2% compared to the same quarter last year. sell-side analysts anticipate that Grand Canyon Education will post 3.9 earnings per share for the current fiscal year.
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In other Grand Canyon Education news, COO William Stan Meyer sold 1,315 shares of the firm’s stock in a transaction on Thursday, August 10th. The stock was sold at an average price of $80.35, for a total value of $105,660.25. Following the sale, the chief operating officer now directly owns 99,774 shares in the company, valued at $8,016,840.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Joseph N. Mildenhall sold 5,000 shares of the firm’s stock in a transaction on Wednesday, August 9th. The shares were sold at an average price of $80.17, for a total value of $400,850.00. Following the completion of the sale, the insider now owns 88,798 shares in the company, valued at $7,118,935.66. The disclosure for this sale can be found here. Insiders own 3.00% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of LOPE. BlackRock Inc. raised its stake in shares of Grand Canyon Education by 73,121.4% during the first quarter. BlackRock Inc. now owns 2,817,560 shares of the company’s stock valued at $201,765,000 after purchasing an additional 2,813,712 shares in the last quarter. William Blair Investment Management LLC raised its stake in shares of Grand Canyon Education by 27.7% during the second quarter. William Blair Investment Management LLC now owns 2,054,139 shares of the company’s stock valued at $161,065,000 after purchasing an additional 445,546 shares in the last quarter. Alliancebernstein L.P. raised its stake in shares of Grand Canyon Education by 15.7% during the second quarter. Alliancebernstein L.P. now owns 1,808,294 shares of the company’s stock valued at $141,788,000 after purchasing an additional 245,284 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of Grand Canyon Education by 5.5% during the first quarter. Vanguard Group Inc. now owns 3,775,228 shares of the company’s stock valued at $270,343,000 after purchasing an additional 197,721 shares in the last quarter. Finally, Russell Investments Group Ltd. raised its stake in shares of Grand Canyon Education by 128.0% during the second quarter. Russell Investments Group Ltd. now owns 347,481 shares of the company’s stock valued at $27,244,000 after purchasing an additional 195,090 shares in the last quarter. Institutional investors and hedge funds own 96.78% of the company’s stock.
About Grand Canyon Education
Grand Canyon Education, Inc is engaged in the provision of postsecondary education. The Company is a regionally accredited university. The Company offers the degrees, including Doctor of Education, Doctor of Business Administration, Doctor of Nursing Practice, Doctor of Philosophy, Education Specialist, Master of Divinity, Master of Arts, Master of Education, Master of Business Administration and Master of Public Administration, Master of Public Health, Master of Science, Bachelor of Arts, Bachelor of Science, and a range of programs for its degrees.
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