K12 Lowered to “Underperform” at Merrill Lynch (LRN)
K12 (NYSE:LRN) was downgraded by equities research analysts at Merrill Lynch from a “neutral” rating to an “underperform” rating in a research note issued to investors on Monday, American Banking News.com reports.
K12 (NYSE:LRN) traded up 0.05% during mid-day trading on Monday, hitting $19.02. 1,514,140 shares of the company’s stock traded hands. K12 has a 52 week low of $15.83 and a 52 week high of $38.14. The stock’s 50-day moving average is $32.26 and its 200-day moving average is $29.07. The company has a market cap of $694.5 million and a price-to-earnings ratio of 26.40.
K12 (NYSE:LRN) last announced its earnings results on Thursday, August 29th. The company reported $0.06 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.03 by $0.03. The company had revenue of $203.10 million for the quarter, compared to the consensus estimate of $200.96 million. During the same quarter in the previous year, the company posted $0.05 earnings per share. The company’s revenue for the quarter was up 19.2% on a year-over-year basis. On average, analysts predict that K12 will post $0.82 earnings per share for the current fiscal year.
Other equities research analysts have also recently issued reports about the stock. Analysts at Zacks downgraded shares of K12 from a “neutral” rating to an “underperform” rating in a research note to investors on Friday. They now have a $17.50 price target on the stock. Separately, analysts at Wells Fargo & Co. upgraded shares of K12 from a “market perform” rating to an “outperform” rating in a research note to investors on Friday. Finally, analysts at Stifel Nicolaus cut their price target on shares of K12 from $39.00 to $26.00 in a research note to investors on Thursday. They now have a “buy” rating on the stock. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and six have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $27.79.
In other K12 news, CEO Ronald J. Packard unloaded 8,000 shares of K12 stock on the open market in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $31.10, for a total transaction of $248,800.00. The sale was disclosed in a filing with the SEC, which is available at this link.
K12 Inc (NYSE:LRN) is a technology-based education company.
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