Grand Canyon Education, Inc. (NASDAQ:LOPE) had its price objective boosted by Piper Jaffray Companies from $83.00 to $92.00 in a research note issued on Wednesday. The brokerage presently has an “overweight” rating on the stock. Piper Jaffray Companies’ price objective suggests a potential upside of 4.83% from the company’s previous close.
A number of other research analysts also recently issued reports on the company. ValuEngine raised Grand Canyon Education from a “hold” rating to a “buy” rating in a research note on Friday, September 1st. BidaskClub downgraded Grand Canyon Education from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, June 27th. Zacks Investment Research downgraded Grand Canyon Education from a “buy” rating to a “hold” rating in a research note on Thursday, July 6th. BMO Capital Markets reissued a “buy” rating and issued a $85.00 price objective on shares of Grand Canyon Education in a research note on Monday, September 18th. Finally, Barrington Research reaffirmed an “outperform” rating and set a $89.00 price target (up from $85.00) on shares of Grand Canyon Education in a research note on Tuesday, August 8th. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Grand Canyon Education presently has a consensus rating of “Buy” and an average price target of $89.00.
Grand Canyon Education (NASDAQ:LOPE) traded up 1.01% during midday trading on Wednesday, hitting $88.65. The stock had a trading volume of 122,565 shares. The stock has a market capitalization of $4.19 billion, a price-to-earnings ratio of 24.47 and a beta of 1.39. Grand Canyon Education has a 52 week low of $40.18 and a 52 week high of $93.08. The company’s 50 day moving average price is $84.60 and its 200-day moving average price is $78.77.
Grand Canyon Education (NASDAQ:LOPE) last announced its quarterly earnings data on Tuesday, August 1st. The company reported $0.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.68 by $0.15. The company had revenue of $218.30 million for the quarter, compared to the consensus estimate of $213.08 million. Grand Canyon Education had a return on equity of 21.77% and a net margin of 18.77%. The firm’s revenue was up 14.1% compared to the same quarter last year. During the same period in the previous year, the business earned $0.59 EPS. Equities analysts anticipate that Grand Canyon Education will post $3.83 earnings per share for the current fiscal year.
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In related 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 transaction, the chief operating officer now directly owns 99,774 shares of the company’s stock, valued at approximately $8,016,840.90. The transaction was disclosed in a document filed with the SEC, which can be accessed through 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 stock was sold at an average price of $80.17, for a total value of $400,850.00. Following the transaction, the insider now directly owns 88,798 shares in the company, valued at $7,118,935.66. The disclosure for this sale can be found here. 3.00% of the stock is currently owned by corporate insiders.
A number of hedge funds have recently bought and sold shares of LOPE. BlackRock Inc. raised its stake in Grand Canyon Education by 73,121.4% during the 1st quarter. BlackRock Inc. now owns 2,817,560 shares of the company’s stock worth $201,765,000 after buying an additional 2,813,712 shares during the period. William Blair Investment Management LLC raised its stake in Grand Canyon Education by 27.7% during the 2nd quarter. William Blair Investment Management LLC now owns 2,054,139 shares of the company’s stock worth $161,065,000 after buying an additional 445,546 shares during the period. Alliancebernstein L.P. raised its stake in Grand Canyon Education by 15.7% during the 2nd quarter. Alliancebernstein L.P. now owns 1,808,294 shares of the company’s stock worth $141,788,000 after buying an additional 245,284 shares during the period. Vanguard Group Inc. raised its stake in Grand Canyon Education by 5.5% during the 1st quarter. Vanguard Group Inc. now owns 3,775,228 shares of the company’s stock worth $270,343,000 after buying an additional 197,721 shares during the period. Finally, Russell Investments Group Ltd. raised its stake in Grand Canyon Education by 128.0% during the 2nd quarter. Russell Investments Group Ltd. now owns 347,481 shares of the company’s stock worth $27,244,000 after buying an additional 195,090 shares during the period. 96.57% of the stock is currently owned by institutional investors and hedge funds.
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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