DeVry Education Group Inc. (DV) Upgraded by Zacks Investment Research to Buy
DeVry Education Group Inc. (NYSE:DV) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Monday. The brokerage presently has a $25.00 target price on the stock. Zacks Investment Research’s price target points to a potential upside of 11.16% from the company’s previous close.
According to Zacks, “DeVry is following a strict cost control routine with special emphasis on controlling the escalating costs at DeVry University and Carrington Colleges. It aims to expand through acquisitions as part of its long-term growth strategies. Among its three reporting segments, two units — health care and international institutions — have shown significant improvement in revenues and profitability throughout fiscal 2013, fiscal 2014 and fiscal 2015. The trend continued in fiscal 2016 as well. Particularly, healthcare institutions, Chamberlain and Ross, gained on strong demand for jobs in the field of healthcare across the U.S. That said, the company has been witnessing a persistent decline in enrollments at its flagship institution, DeVry University, which accounts for a major portion of its revenues.”
DV has been the topic of several other reports. Credit Suisse Group AG set a $24.00 price objective on shares of DeVry Education Group and gave the stock a “hold” rating in a research note on Monday, September 12th. Barrington Research upgraded shares of DeVry Education Group from a “market perform” rating to an “outperform” rating and set a $30.00 price target on the stock in a research note on Wednesday, September 14th. Finally, Piper Jaffray Cos. reiterated an “overweight” rating and issued a $35.00 price target on shares of DeVry Education Group in a research note on Sunday, August 21st. One research analyst has rated the stock with a sell rating, six have issued a hold rating and three have issued a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $23.88.
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DeVry Education Group (NYSE:DV) traded down 0.13% during midday trading on Monday, hitting $22.43. 166,012 shares of the company traded hands. DeVry Education Group has a 12-month low of $15.36 and a 12-month high of $29.60. The company’s market capitalization is $1.40 billion. The stock’s 50-day moving average price is $22.91 and its 200 day moving average price is $20.15.
DeVry Education Group (NYSE:DV) last issued its quarterly earnings results on Thursday, August 18th. The company reported $0.65 EPS for the quarter, topping the consensus estimate of $0.60 by $0.05. DeVry Education Group had a negative net margin of 0.17% and a positive return on equity of 10.31%. The firm had revenue of $471.70 million for the quarter, compared to analysts’ expectations of $461.90 million. During the same period in the previous year, the firm posted $0.57 EPS. The company’s revenue for the quarter was down .3% on a year-over-year basis. On average, equities analysts forecast that DeVry Education Group will post $2.53 EPS for the current year.
In other news, major shareholder Value Advisers International sold 2,872 shares of the company’s stock in a transaction that occurred on Tuesday, August 23rd. The shares were sold at an average price of $24.67, for a total transaction of $70,852.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Ronald L. Taylor sold 44,100 shares of the company’s stock in a transaction that occurred on Friday, September 2nd. The stock was sold at an average price of $22.82, for a total transaction of $1,006,362.00. Following the sale, the insider now directly owns 742,649 shares of the company’s stock, valued at approximately $16,947,250.18. The disclosure for this sale can be found here. Company insiders own 5.61% of the company’s stock.
Several hedge funds have recently modified their holdings of the company. State Treasurer State of Michigan increased its stake in shares of DeVry Education Group by 0.4% in the second quarter. State Treasurer State of Michigan now owns 22,700 shares of the company’s stock worth $405,000 after buying an additional 100 shares during the period. US Bancorp DE increased its stake in shares of DeVry Education Group by 7.8% in the second quarter. US Bancorp DE now owns 8,258 shares of the company’s stock worth $147,000 after buying an additional 598 shares during the period. Thrivent Financial for Lutherans increased its stake in shares of DeVry Education Group by 1.2% in the second quarter. Thrivent Financial for Lutherans now owns 58,620 shares of the company’s stock worth $1,046,000 after buying an additional 710 shares during the period. Comerica Bank increased its stake in shares of DeVry Education Group by 2.2% in the second quarter. Comerica Bank now owns 39,542 shares of the company’s stock worth $890,000 after buying an additional 846 shares during the period. Finally, Teacher Retirement System of Texas increased its stake in shares of DeVry Education Group by 13.8% in the second quarter. Teacher Retirement System of Texas now owns 8,444 shares of the company’s stock worth $151,000 after buying an additional 1,022 shares during the period.
DeVry Education Group Company Profile
DeVry Education Group Inc (DeVry Group) is a provider of educational services. DeVry Group’s institutions offer an array of programs in business, healthcare and technology, and serve students in postsecondary education as well as accounting and finance professionals. DeVry Group operates through three segments: Business, Technology and Management, Medical and Healthcare, and International and Professional Education.
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