Grand Canyon Education (NASDAQ:LOPE) Upgraded to Buy by Zacks Investment Research

Zacks Investment Research upgraded shares of Grand Canyon Education (NASDAQ:LOPE) from a hold rating to a buy rating in a research report report published on Saturday, Zacks.com reports. They currently have $99.00 price objective on the stock.

According to Zacks, “Grand Canyon Education, Inc. is a regionally accredited provider of online postsecondary education services focused on offering graduate and undergraduate degree programs in its core disciplines of education, business, and healthcare. In addition to its online programs, it offers programs at its traditional campus in Phoenix, Arizona and onsite at the facilities of employers. “

Other equities analysts have also issued reports about the stock. BidaskClub lowered shares of Grand Canyon Education from a sell rating to a strong sell rating in a report on Tuesday, October 22nd. ValuEngine upgraded shares of Grand Canyon Education from a hold rating to a buy rating in a report on Wednesday, September 4th. Robert W. Baird lowered their target price on shares of Grand Canyon Education from $145.00 to $118.00 and set an outperform rating for the company in a research note on Thursday. BMO Capital Markets lowered their target price on shares of Grand Canyon Education from $126.00 to $116.00 and set an outperform rating for the company in a research note on Thursday. Finally, Barrington Research set a $145.00 target price on shares of Grand Canyon Education and gave the company a buy rating in a research note on Wednesday, October 9th. One equities research analyst has rated the stock with a sell rating and five have assigned a buy rating to the company. The company presently has a consensus rating of Buy and a consensus price target of $119.50.

NASDAQ LOPE traded down $3.19 on Friday, reaching $84.89. The company’s stock had a trading volume of 1,074,500 shares, compared to its average volume of 368,573. The business has a 50-day moving average price of $97.66 and a 200 day moving average price of $114.69. Grand Canyon Education has a 52 week low of $76.48 and a 52 week high of $132.72. The firm has a market cap of $4.44 billion, a PE ratio of 16.68, a price-to-earnings-growth ratio of 1.14 and a beta of 0.65. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.16.

Grand Canyon Education (NASDAQ:LOPE) last announced its quarterly earnings data on Wednesday, November 6th. The company reported $1.24 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.15 by $0.09. Grand Canyon Education had a net margin of 33.14% and a return on equity of 21.06%. The business had revenue of $193.30 million for the quarter, compared to analyst estimates of $191.75 million. During the same period in the prior year, the business posted $1.06 earnings per share. Grand Canyon Education’s revenue was up 24.3% compared to the same quarter last year. Analysts anticipate that Grand Canyon Education will post 5.39 earnings per share for the current fiscal year.

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In other Grand Canyon Education news, insider Joseph N. Mildenhall sold 2,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $126.20, for a total value of $252,400.00. Following the completion of the sale, the insider now owns 58,809 shares of the company’s stock, valued at $7,421,695.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Dilek Marsh sold 1,000 shares of the company’s stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $126.83, for a total transaction of $126,830.00. Following the completion of the sale, the insider now directly owns 26,624 shares of the company’s stock, valued at approximately $3,376,721.92. The disclosure for this sale can be found here. Insiders sold 5,000 shares of company stock valued at $596,730 in the last ninety days. Insiders own 2.00% of the company’s stock.

Several hedge funds have recently modified their holdings of LOPE. William Blair Investment Management LLC increased its position in shares of Grand Canyon Education by 30.9% during the second quarter. William Blair Investment Management LLC now owns 2,338,224 shares of the company’s stock worth $273,619,000 after acquiring an additional 552,523 shares in the last quarter. TimesSquare Capital Management LLC increased its position in shares of Grand Canyon Education by 93.9% during the second quarter. TimesSquare Capital Management LLC now owns 738,700 shares of the company’s stock worth $86,443,000 after acquiring an additional 357,655 shares in the last quarter. Victory Capital Management Inc. increased its position in shares of Grand Canyon Education by 61.9% during the second quarter. Victory Capital Management Inc. now owns 857,677 shares of the company’s stock worth $100,366,000 after acquiring an additional 327,914 shares in the last quarter. Columbus Circle Investors increased its position in shares of Grand Canyon Education by 1,730.0% during the second quarter. Columbus Circle Investors now owns 275,106 shares of the company’s stock worth $32,193,000 after acquiring an additional 260,073 shares in the last quarter. Finally, Westfield Capital Management Co. LP bought a new stake in shares of Grand Canyon Education during the second quarter worth $24,195,000. 96.79% of the stock is owned by institutional investors.

About Grand Canyon Education

Grand Canyon Education, Inc provides education services in the United States. It offers technology and academic, counseling and support, and marketing and communication services, as well as back office services, such as financial aid processing, accounting, reporting, tax, human resources, and procurement services to the Grand Canyon University.

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