Grand Canyon Education, Inc. (NASDAQ:LOPE) has been assigned a consensus rating of “Buy” from the six ratings firms that are presently covering the firm, MarketBeat.com reports. Three investment analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $92.67.
A number of equities analysts recently issued reports on LOPE shares. Zacks Investment Research lowered shares of Grand Canyon Education from a “buy” rating to a “hold” rating in a research report on Thursday, July 6th. BidaskClub lowered shares of Grand Canyon Education from a “buy” rating to a “hold” rating in a research report on Wednesday, July 19th. Barrington Research reaffirmed an “outperform” rating and set a $89.00 target price (up previously from $85.00) on shares of Grand Canyon Education in a research report on Wednesday, August 2nd. ValuEngine raised shares of Grand Canyon Education from a “hold” rating to a “buy” rating in a research report on Friday, September 1st. Finally, BMO Capital Markets reaffirmed a “buy” rating and set a $85.00 target price on shares of Grand Canyon Education in a research report on Monday, September 18th.
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In other Grand Canyon Education news, COO William Stan Meyer sold 1,315 shares of the business’s stock in a transaction on Thursday, August 10th. The shares were sold at an average price of $80.35, for a total value of $105,660.25. Following the sale, the chief operating officer now owns 99,774 shares of the company’s stock, valued at approximately $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 business’s stock in a transaction on Wednesday, August 9th. The shares were sold at an average price of $80.17, for a total transaction of $400,850.00. Following the completion of the sale, the insider now directly 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 institutional investors have recently made changes to their positions in LOPE. Meeder Asset Management Inc. increased its holdings in Grand Canyon Education by 586.1% in the 2nd quarter. Meeder Asset Management Inc. now owns 1,434 shares of the company’s stock valued at $112,000 after buying an additional 1,225 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Grand Canyon Education by 8.2% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,827 shares of the company’s stock valued at $143,000 after buying an additional 139 shares during the period. CAPROCK Group Inc. bought a new stake in Grand Canyon Education in the 3rd quarter valued at $225,000. Fox Run Management L.L.C. bought a new stake in Grand Canyon Education in the 2nd quarter valued at $227,000. Finally, Cubist Systematic Strategies LLC bought a new stake in Grand Canyon Education in the 2nd quarter valued at $227,000. 96.78% of the stock is currently owned by hedge funds and other institutional investors.
Grand Canyon Education (NASDAQ:LOPE) last announced its earnings results on Tuesday, August 1st. The company reported $0.83 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.68 by $0.15. Grand Canyon Education had a net margin of 18.77% and a return on equity of 21.77%. The business had revenue of $218.30 million for the quarter, compared to analyst estimates of $213.08 million. During the same quarter in the previous year, the firm posted $0.59 earnings per share. Grand Canyon Education’s revenue was up 14.1% compared to the same quarter last year.
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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