Barrington Research reaffirmed their outperform rating on shares of Grand Canyon Education, Inc. (NASDAQ:LOPE) in a research note published on Thursday. Barrington Research currently has a $103.00 price target on the stock, up from their prior price target of $98.00.
A number of other research analysts also recently issued reports on LOPE. BidaskClub cut Grand Canyon Education from a hold rating to a sell rating in a report on Tuesday, August 1st. BMO Capital Markets reissued a buy rating and issued a $97.00 price target on shares of Grand Canyon Education in a report on Wednesday, October 25th. Zacks Investment Research raised Grand Canyon Education from a hold rating to a buy rating and set a $90.00 price target on the stock in a report on Thursday, August 3rd. ValuEngine cut Grand Canyon Education from a buy rating to a hold rating in a report on Monday, October 2nd. Finally, Piper Jaffray Companies boosted their price target on Grand Canyon Education from $83.00 to $92.00 and gave the stock an overweight rating in a report on Wednesday, October 11th. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The company currently has a consensus rating of Buy and a consensus target price of $97.40.
Grand Canyon Education (LOPE) traded down $0.30 during midday trading on Thursday, reaching $88.54. The company had a trading volume of 372,863 shares, compared to its average volume of 283,909. The company has a market cap of $4,260.63, a P/E ratio of 23.49, a price-to-earnings-growth ratio of 1.75 and a beta of 1.34. 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.
Grand Canyon Education (NASDAQ:LOPE) last released its quarterly earnings results on Wednesday, November 1st. The company reported $0.81 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.76 by $0.05. The business had revenue of $236.21 million during the quarter, compared to the consensus estimate of $231.43 million. Grand Canyon Education had a return on equity of 21.40% and a net margin of 19.32%. The business’s quarterly revenue was up 12.2% compared to the same quarter last year. During the same period in the previous year, the company posted $0.62 EPS. equities research analysts anticipate that Grand Canyon Education will post 3.9 EPS for the current year.
In related news, insider Joseph N. Mildenhall sold 5,000 shares of the stock in a transaction on Wednesday, August 9th. The stock was sold at an average price of $80.17, for a total transaction of $400,850.00. Following the sale, the insider now owns 88,798 shares in the company, valued at approximately $7,118,935.66. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, COO William Stan Meyer sold 1,315 shares of the stock in a transaction on Thursday, August 10th. The shares were sold at an average price of $80.35, for a total value of $105,660.25. Following the sale, the chief operating officer now owns 99,774 shares in the company, valued at approximately $8,016,840.90. The disclosure for this sale can be found here. 3.00% of the stock is owned by corporate insiders.
A number of large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its position in Grand Canyon Education by 1.5% in the 2nd quarter. Vanguard Group Inc. now owns 3,831,950 shares of the company’s stock valued at $300,462,000 after acquiring an additional 56,722 shares during the last quarter. BlackRock Inc. grew its position in Grand Canyon Education by 4.4% in the 2nd quarter. BlackRock Inc. now owns 2,941,225 shares of the company’s stock valued at $230,620,000 after acquiring an additional 123,665 shares during the last quarter. William Blair Investment Management LLC grew its position in Grand Canyon Education by 27.7% in the 2nd quarter. William Blair Investment Management LLC now owns 2,054,139 shares of the company’s stock valued at $161,065,000 after acquiring an additional 445,546 shares during the last quarter. Alliancebernstein L.P. grew its position in Grand Canyon Education by 15.7% in the 2nd quarter. Alliancebernstein L.P. now owns 1,808,294 shares of the company’s stock valued at $141,788,000 after acquiring an additional 245,284 shares during the last quarter. Finally, Handelsbanken Fonder AB grew its position in Grand Canyon Education by 7.7% in the 3rd quarter. Handelsbanken Fonder AB now owns 1,140,290 shares of the company’s stock valued at $103,561,000 after acquiring an additional 81,500 shares during the last quarter. Institutional investors 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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