Grand Canyon Education (NASDAQ:LOPE) Rating Lowered to Hold at Zacks Investment Research

Zacks Investment Research downgraded shares of Grand Canyon Education (NASDAQ:LOPE) from a buy rating to a hold rating in a research report report published on Wednesday morning, Zacks.com reports.

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 research analysts have also issued research reports about the stock. BidaskClub lowered shares of Zynerba Pharmaceuticals from a buy rating to a hold rating in a research report on Wednesday, June 26th. Barrington Research set a $22.00 target price on shares of The Hackett Group and gave the stock a buy rating in a research report on Wednesday, May 8th. Finally, ValuEngine lowered shares of Zosano Pharma from a buy rating to a hold rating in a research report on Wednesday, May 1st. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the company’s stock. The company has a consensus rating of Buy and a consensus price target of $131.00.

Grand Canyon Education stock opened at $119.16 on Wednesday. The firm has a market cap of $5.75 billion, a price-to-earnings ratio of 23.41, a price-to-earnings-growth ratio of 1.40 and a beta of 0.82. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.57 and a current ratio of 1.57. Grand Canyon Education has a fifty-two week low of $90.67 and a fifty-two week high of $130.10. The stock’s fifty day moving average price is $120.48.

Grand Canyon Education (NASDAQ:LOPE) last released its earnings results on Tuesday, May 7th. The company reported $1.62 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.49 by $0.13. The firm had revenue of $197.29 million during the quarter, compared to analyst estimates of $195.60 million. Grand Canyon Education had a net margin of 29.80% and a return on equity of 21.50%. The business’s revenue was down 28.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.52 EPS. Analysts forecast that Grand Canyon Education will post 5.24 earnings per share for the current year.

In other news, insider Joseph N. Mildenhall sold 2,000 shares of the company’s stock in a transaction dated Tuesday, July 9th. The shares were sold at an average price of $116.50, for a total transaction of $233,000.00. Following the completion of the transaction, the insider now owns 60,809 shares of the company’s stock, valued at $7,084,248.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Brian E. Mueller sold 40,000 shares of the company’s stock in a transaction dated Friday, June 7th. The shares were sold at an average price of $126.10, for a total transaction of $5,044,000.00. Following the transaction, the chief executive officer now directly owns 320,124 shares of the company’s stock, valued at approximately $40,367,636.40. The disclosure for this sale can be found here. Insiders have sold 85,900 shares of company stock valued at $10,545,445 in the last ninety days. 2.00% of the stock is owned by company insiders.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Westpac Banking Corp increased its stake in Grand Canyon Education by 9.8% in the first quarter. Westpac Banking Corp now owns 51,592 shares of the company’s stock valued at $5,908,000 after acquiring an additional 4,600 shares during the period. Washington Capital Management Inc. increased its stake in Grand Canyon Education by 46.0% in the first quarter. Washington Capital Management Inc. now owns 4,600 shares of the company’s stock valued at $527,000 after acquiring an additional 1,450 shares during the period. Summit Creek Advisors LLC increased its stake in Grand Canyon Education by 24.3% in the first quarter. Summit Creek Advisors LLC now owns 200,492 shares of the company’s stock valued at $22,958,000 after acquiring an additional 39,162 shares during the period. Great West Life Assurance Co. Can increased its stake in Grand Canyon Education by 8.7% in the fourth quarter. Great West Life Assurance Co. Can now owns 5,764 shares of the company’s stock valued at $533,000 after acquiring an additional 461 shares during the period. Finally, Legal & General Group Plc increased its stake in Grand Canyon Education by 15.8% in the fourth quarter. Legal & General Group Plc now owns 29,106 shares of the company’s stock valued at $2,798,000 after acquiring an additional 3,973 shares during the period. 96.16% of the stock is owned by institutional investors and hedge funds.

Grand Canyon Education Company Profile

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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