Grand Canyon Education Inc. (NASDAQ:LOPE)‘s stock had its “buy” rating restated by equities researchers at Credit Suisse Group AG in a research note issued to investors on Tuesday. They currently have a $62.00 price objective on the stock. Credit Suisse Group AG’s price objective would suggest a potential upside of 52.30% from the stock’s previous close.
Other analysts also recently issued reports about the stock. Zacks Investment Research upgraded shares of Grand Canyon Education from a “hold” rating to a “buy” rating and set a $50.00 price objective on the stock in a research report on Tuesday, August 9th. Piper Jaffray Cos. boosted their price target on shares of Grand Canyon Education from $49.00 to $53.00 and gave the stock an “overweight” rating in a research report on Friday, August 5th. Six research analysts have rated the stock with a buy rating, The stock has an average rating of “Buy” and an average price target of $49.67.
Shares of Grand Canyon Education (NASDAQ:LOPE) opened at 40.71 on Tuesday. The company’s 50-day moving average is $41.15 and its 200-day moving average is $41.88. The firm has a market cap of $1.88 billion, a price-to-earnings ratio of 13.44 and a beta of 1.10. Grand Canyon Education has a 12 month low of $31.12 and a 12 month high of $45.02.
Grand Canyon Education (NASDAQ:LOPE) last issued its quarterly earnings data on Thursday, August 4th. The company reported $0.59 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.54 by $0.05. The firm had revenue of $191.30 million for the quarter, compared to the consensus estimate of $189.09 million. Grand Canyon Education had a net margin of 17.25% and a return on equity of 22.53%. Grand Canyon Education’s quarterly revenue was up 9.5% compared to the same quarter last year. During the same period last year, the firm posted $0.55 EPS. On average, equities research analysts forecast that Grand Canyon Education will post $3.08 earnings per share for the current fiscal year.
In related news, CFO Daniel E. Bachus sold 17,500 shares of the business’s stock in a transaction that occurred on Wednesday, August 10th. The shares were sold at an average price of $43.31, for a total value of $757,925.00. Following the sale, the chief financial officer now directly owns 126,360 shares in the company, valued at approximately $5,472,651.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO William Stan Meyer sold 25,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 10th. The stock was sold at an average price of $43.32, for a total transaction of $1,083,000.00. Following the completion of the sale, the chief operating officer now owns 126,862 shares in the company, valued at $5,495,661.84. The disclosure for this sale can be found here. 5.30% of the stock is currently owned by corporate insiders.
Several hedge funds have recently added to or reduced their stakes in the company. RS Investment Management Co. LLC increased its stake in Grand Canyon Education by 5,587.7% in the second quarter. RS Investment Management Co. LLC now owns 771,084 shares of the company’s stock worth $30,782,000 after buying an additional 757,527 shares during the last quarter. Loomis Sayles & Co. L P increased its stake in Grand Canyon Education by 2,537,826.7% in the first quarter. Loomis Sayles & Co. L P now owns 380,689 shares of the company’s stock worth $16,271,000 after buying an additional 380,674 shares during the last quarter. FMR LLC increased its stake in Grand Canyon Education by 41.3% in the second quarter. FMR LLC now owns 1,200,711 shares of the company’s stock worth $47,932,000 after buying an additional 350,861 shares during the last quarter. Neumeier Poma Investment Counsel LLC acquired a new stake in Grand Canyon Education during the second quarter worth approximately $13,284,000. Finally, Norges Bank acquired a new stake in Grand Canyon Education during the fourth quarter worth approximately $9,370,000. Institutional investors and hedge funds own 99.59% of the company’s stock.
About Grand Canyon Education
Grand Canyon Education, Inc is a regionally accredited university. The Company offers approximately 200 graduate and undergraduate degree programs and certificates across approximately eight colleges both online and on ground in Phoenix, Arizona and at leased facilities and at facilities owned by third-party employers of its students.
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