Grand Canyon Education’s (LOPE) “Buy” Rating Reaffirmed at BMO Capital Markets
Grand Canyon Education, Inc. (NASDAQ:LOPE)‘s stock had its “buy” rating reiterated by BMO Capital Markets in a research report issued on Wednesday. They currently have a $97.00 price target on the stock. BMO Capital Markets’ price target points to a potential upside of 8.23% from the company’s previous close.
Several other research firms have also recently commented on LOPE. BidaskClub cut Grand Canyon Education from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, June 27th. Barrington Research reiterated an “outperform” rating and issued a $89.00 price target (up previously from $85.00) on shares of Grand Canyon Education in a research note on Tuesday, August 8th. Zacks Investment Research cut Grand Canyon Education from a “buy” rating to a “hold” rating in a research note on Thursday, July 6th. ValuEngine upgraded Grand Canyon Education from a “hold” rating to a “buy” rating in a research note on Friday, September 1st. 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 research note on Wednesday, October 11th. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Grand Canyon Education has an average rating of “Buy” and an average price target of $92.00.
Shares of Grand Canyon Education (LOPE) traded down 1.08% during midday trading on Wednesday, hitting $88.65. The stock had a trading volume of 94,518 shares. The company has a market cap of $4.19 billion, a P/E ratio of 24.47 and a beta of 1.39. Grand Canyon Education has a one year low of $41.31 and a one year high of $93.08. The stock has a 50 day moving average of $86.37 and a 200-day moving average of $79.96.
Grand Canyon Education (NASDAQ:LOPE) last released its quarterly earnings results on Tuesday, August 1st. The company reported $0.83 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.68 by $0.15. Grand Canyon Education had a return on equity of 21.77% and a net margin of 18.77%. The business had revenue of $218.30 million for the quarter, compared to analysts’ expectations of $213.08 million. During the same quarter in the previous year, the firm posted $0.59 earnings per share. The company’s revenue was up 14.1% compared to the same quarter last year. Analysts forecast that Grand Canyon Education will post $3.83 EPS for the current fiscal year.
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In other Grand Canyon Education news, COO William Stan Meyer sold 1,315 shares of the company’s stock in a transaction that occurred on Thursday, August 10th. The stock was sold at an average price of $80.35, for a total transaction of $105,660.25. Following the sale, the chief operating officer now owns 99,774 shares in the company, valued at $8,016,840.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Joseph N. Mildenhall sold 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 9th. The shares were sold at an average price of $80.17, for a total value 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 disclosure for this sale can be found here. Insiders own 3.00% of the company’s stock.
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Aperio Group LLC raised its stake in Grand Canyon Education by 9.0% during the third quarter. Aperio Group LLC now owns 10,534 shares of the company’s stock valued at $957,000 after buying an additional 872 shares in the last quarter. Handelsbanken Fonder AB raised its stake in Grand Canyon Education by 7.7% during the third quarter. Handelsbanken Fonder AB now owns 1,140,290 shares of the company’s stock valued at $103,561,000 after buying an additional 81,500 shares in the last quarter. Nationwide Fund Advisors raised its stake in Grand Canyon Education by 62.1% during the third quarter. Nationwide Fund Advisors now owns 139,763 shares of the company’s stock valued at $12,693,000 after buying an additional 53,555 shares in the last quarter. Handelsinvest Investeringsforvaltning raised its stake in Grand Canyon Education by 1.9% during the third quarter. Handelsinvest Investeringsforvaltning now owns 230,947 shares of the company’s stock valued at $20,975,000 after buying an additional 4,300 shares in the last quarter. Finally, CAPROCK Group Inc. acquired a new stake in Grand Canyon Education during the third quarter valued at approximately $225,000. Hedge funds and other institutional investors own 96.68% 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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