Grand Canyon Education, Inc. (LOPE) Given Consensus Recommendation of “Buy” by Brokerages
Grand Canyon Education, Inc. (NASDAQ:LOPE) has earned an average recommendation of “Buy” from the seven brokerages that are currently covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $77.75.
A number of analysts have issued reports on LOPE shares. ValuEngine raised shares of Grand Canyon Education from a “hold” rating to a “buy” rating in a report on Friday, June 2nd. Zacks Investment Research raised shares of Grand Canyon Education from a “hold” rating to a “buy” rating and set a $86.00 price objective for the company in a report on Tuesday, May 23rd. BidaskClub downgraded shares of Grand Canyon Education from a “strong-buy” rating to a “buy” rating in a report on Tuesday. Barrington Research boosted their price objective on shares of Grand Canyon Education from $68.00 to $85.00 and gave the company an “outperform” rating in a report on Monday, May 15th. Finally, Piper Jaffray Companies reissued an “overweight” rating and issued a $73.00 price objective (up previously from $69.00) on shares of Grand Canyon Education in a report on Monday, March 20th.
Grand Canyon Education (NASDAQ LOPE) opened at 77.41 on Wednesday. Grand Canyon Education has a 52-week low of $37.94 and a 52-week high of $83.00. The company has a 50-day moving average of $78.39 and a 200 day moving average of $67.37. The firm has a market cap of $3.64 billion, a price-to-earnings ratio of 22.86 and a beta of 1.54.
Grand Canyon Education (NASDAQ:LOPE) last announced its earnings results on Thursday, May 4th. The company reported $1.12 EPS for the quarter, topping the consensus estimate of $1.01 by $0.11. The business had revenue of $248.20 million during the quarter, compared to the consensus estimate of $244.64 million. Grand Canyon Education had a net margin of 17.97% and a return on equity of 21.53%. Grand Canyon Education’s revenue was up 9.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.92 EPS. On average, equities research analysts anticipate that Grand Canyon Education will post $3.66 EPS for the current year.
In other news, CEO Brian E. Mueller sold 30,000 shares of the business’s stock in a transaction that occurred on Monday, April 10th. The shares were sold at an average price of $70.66, for a total value of $2,119,800.00. Following the completion of the transaction, the chief executive officer now directly owns 312,794 shares in the company, valued at approximately $22,102,024.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Daniel E. Bachus sold 14,000 shares of the business’s stock in a transaction that occurred on Monday, April 10th. The shares were sold at an average price of $70.67, for a total transaction of $989,380.00. Following the completion of the transaction, the chief financial officer now owns 120,605 shares of the company’s stock, valued at $8,523,155.35. The disclosure for this sale can be found here. Insiders sold a total of 201,545 shares of company stock valued at $15,364,083 over the last 90 days. Corporate insiders own 5.30% of the company’s stock.
Institutional investors have recently modified their holdings of the stock. Russell Investments Group Ltd. purchased a new position in shares of Grand Canyon Education during the fourth quarter valued at approximately $2,250,000. State Street Corp boosted its position in Grand Canyon Education by 1.0% in the fourth quarter. State Street Corp now owns 822,561 shares of the company’s stock worth $48,079,000 after buying an additional 8,431 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in Grand Canyon Education by 2.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,219,457 shares of the company’s stock worth $71,278,000 after buying an additional 30,670 shares in the last quarter. FMR LLC boosted its position in Grand Canyon Education by 128.8% in the fourth quarter. FMR LLC now owns 3,236,327 shares of the company’s stock worth $189,164,000 after buying an additional 1,822,104 shares in the last quarter. Finally, Allianz Asset Management AG boosted its position in Grand Canyon Education by 5.8% in the fourth quarter. Allianz Asset Management AG now owns 26,403 shares of the company’s stock worth $1,543,000 after buying an additional 1,449 shares in the last quarter. Institutional investors own 97.59% of the company’s stock.
Grand Canyon Education Company Profile
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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