Career Education (NASDAQ:CECO) Downgraded to Sell at ValuEngine

ValuEngine downgraded shares of Career Education (NASDAQ:CECO) from a hold rating to a sell rating in a research note issued to investors on Tuesday, ValuEngine reports.

Several other brokerages also recently issued reports on CECO. TheStreet upgraded Career Education from a c rating to a b- rating in a report on Friday, November 8th. Sidoti dropped their price objective on Career Education from $26.00 to $23.00 and set a buy rating on the stock in a research note on Tuesday, October 22nd. Barrington Research reaffirmed a buy rating and set a $26.00 price objective on shares of Career Education in a report on Thursday, October 10th. Zacks Investment Research upgraded shares of Career Education from a hold rating to a buy rating and set a $18.00 target price for the company in a research note on Thursday, October 3rd. Finally, BidaskClub upgraded shares of Career Education from a sell rating to a hold rating in a report on Thursday, November 14th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the company. Career Education currently has a consensus rating of Hold and an average price target of $22.33.

Shares of NASDAQ CECO opened at $16.69 on Tuesday. The stock has a market cap of $1.17 billion, a price-to-earnings ratio of 12.09, a PEG ratio of 0.82 and a beta of 1.48. The company has a debt-to-equity ratio of 0.14, a quick ratio of 2.67 and a current ratio of 2.67. Career Education has a fifty-two week low of $11.01 and a fifty-two week high of $22.50. The firm’s 50-day simple moving average is $15.66 and its 200 day simple moving average is $18.26.

Career Education (NASDAQ:CECO) last issued its quarterly earnings data on Wednesday, November 6th. The company reported $0.33 EPS for the quarter, topping analysts’ consensus estimates of $0.25 by $0.08. Career Education had a return on equity of 26.01% and a net margin of 9.20%. The firm had revenue of $155.00 million during the quarter, compared to analyst estimates of $146.70 million. During the same period in the previous year, the company posted $0.25 EPS. The company’s revenue for the quarter was up 6.4% on a year-over-year basis. On average, sell-side analysts predict that Career Education will post 1.36 EPS for the current year.

In other news, Director Thomas B. Lally sold 16,000 shares of Career Education stock in a transaction on Monday, October 7th. The stock was sold at an average price of $15.75, for a total transaction of $252,000.00. Following the sale, the director now directly owns 50,619 shares in the company, valued at approximately $797,249.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Jeffrey David Ayers sold 48,886 shares of Career Education stock in a transaction on Tuesday, October 8th. The stock was sold at an average price of $15.38, for a total value of $751,866.68. Following the sale, the senior vice president now owns 227,793 shares in the company, valued at $3,503,456.34. The disclosure for this sale can be found here. Insiders sold a total of 261,970 shares of company stock worth $4,424,465 in the last 90 days. Company insiders own 5.58% of the company’s stock.

Several hedge funds have recently modified their holdings of CECO. FMR LLC lifted its stake in Career Education by 13.9% in the first quarter. FMR LLC now owns 3,134,862 shares of the company’s stock valued at $51,788,000 after purchasing an additional 382,842 shares during the last quarter. Amundi Pioneer Asset Management Inc. boosted its position in Career Education by 121.8% during the first quarter. Amundi Pioneer Asset Management Inc. now owns 33,717 shares of the company’s stock worth $557,000 after purchasing an additional 18,517 shares during the period. Daiwa Securities Group Inc. bought a new position in Career Education during the second quarter worth about $80,000. Arizona State Retirement System increased its stake in shares of Career Education by 1.0% in the second quarter. Arizona State Retirement System now owns 108,745 shares of the company’s stock worth $2,074,000 after purchasing an additional 1,111 shares in the last quarter. Finally, Bowling Portfolio Management LLC purchased a new position in shares of Career Education in the second quarter worth about $1,661,000. Institutional investors own 86.68% of the company’s stock.

Career Education Company Profile

Career Education Corporation operates colleges, institutions, and universities that provide education to student population in various career-oriented disciplines through online, campus based, and blended learning programs in the United States. The company operates through three segments: Colorado Technical University (CTU), American InterContinental University (AIU), and All Other Campuses.

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