ITT Educational Services Stock Rating Upgraded by Morgan Stanley (ESI)
ITT Educational Services (NYSE:ESI) was upgraded by equities research analysts at Morgan Stanley from an “underweight” rating to an “equal weight” rating in a research note issued to investors on Friday, TheFlyOnTheWall.com reports. The firm currently has a $28.00 target price on the stock, up from their previous target price of $27.00. Morgan Stanley’s price objective indicates a potential downside of 4.76% from the stock’s previous close. The analysts noted that the move was a valuation call.
In other ITT Educational Services news, CMO Glenn E. Tanner sold 1,847 shares of the stock in a transaction that occurred on Wednesday, January 29th. The stock was sold at an average price of $38.87, for a total value of $71,792.89. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
ITT Educational Services (NYSE:ESI) traded down 0.14% on Friday, hitting $29.40. The stock had a trading volume of 1,523,388 shares. ITT Educational Services has a one year low of $11.95 and a one year high of $45.80. The stock has a 50-day moving average of $37.04 and a 200-day moving average of $33.54. The company has a market cap of $687.0 million and a P/E ratio of 11.30.
ITT Educational Services (NYSE:ESI) last posted its quarterly earnings results on Friday, January 31st. The company reported ($0.49) EPS for the quarter, missing the Thomson Reuters consensus estimate of $1.09 by $1.58. The company had revenue of $262.90 million for the quarter, compared to the consensus estimate of $260.89 million. On average, analysts predict that ITT Educational Services will post $3.12 earnings per share for the current fiscal year.
Several other analysts have also recently commented on the stock. Analysts at Merrill Lynch upgraded shares of ITT Educational Services from a “neutral” rating to a “buy” rating in a research note to investors on Friday, January 17th. Separately, analysts at Bank of America Corp. upgraded shares of ITT Educational Services from a “neutral” rating to a “buy” rating in a research note to investors on Friday, January 17th. They now have a $49.00 price target on the stock, up previously from $42.00. Finally, analysts at Zacks downgraded shares of ITT Educational Services from an “outperform” rating to a “neutral” rating in a research note to investors on Tuesday, December 31st. They now have a $40.30 price target on the stock. One analyst has rated the stock with a sell rating, nine have issued a hold rating and five have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $33.75.
ITT Educational Services, Inc (NYSE:ESI) is a provider of postsecondary degree programs in the United States.
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