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 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. “

Several other brokerages have also recently issued reports on LOPE. Barrington Research set a $22.00 price objective on The Hackett Group and gave the company a buy rating in a research note on Wednesday, May 8th. ValuEngine cut Zosano Pharma from a buy rating to a hold rating in a research note on Wednesday, May 1st. Finally, BidaskClub cut Zynerba Pharmaceuticals from a buy rating to a hold rating in a research note on Wednesday, June 26th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the company’s stock. Grand Canyon Education presently has a consensus rating of Buy and a consensus price target of $131.00.



NASDAQ:LOPE opened at $119.16 on Wednesday. The stock has a 50-day simple moving average of $120.48. Grand Canyon Education has a one year low of $90.67 and a one year high of $130.10. The firm has a market capitalization of $5.75 billion, a PE ratio of 22.96, a price-to-earnings-growth ratio of 1.42 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 (NASDAQ:LOPE) last announced its quarterly earnings data on Tuesday, May 7th. The company reported $1.62 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.49 by $0.13. Grand Canyon Education had a return on equity of 21.50% and a net margin of 29.80%. The firm had revenue of $197.29 million for the quarter, compared to analysts’ expectations of $195.60 million. During the same quarter in the prior year, the firm posted $1.52 earnings per share. Grand Canyon Education’s revenue for the quarter was down 28.4% compared to the same quarter last year. As a group, equities research analysts expect that Grand Canyon Education will post 5.24 EPS for the current fiscal year.

In other news, insider Joseph N. Mildenhall sold 2,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 14th. The stock was sold at an average price of $115.03, for a total transaction of $230,060.00. Following the completion of the transaction, the insider now directly owns 64,809 shares of the company’s stock, valued at $7,454,979.27. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Brian E. Mueller sold 40,000 shares of the company’s stock in a transaction that occurred on Friday, June 7th. The shares were sold at an average price of $126.10, for a total value 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 $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 over the last ninety days. Corporate insiders own 2.00% of the company’s stock.

Several large investors have recently bought and sold shares of the company. LPL Financial LLC grew its holdings in Grand Canyon Education by 7.7% during the 4th quarter. LPL Financial LLC now owns 5,629 shares of the company’s stock valued at $541,000 after buying an additional 401 shares in the last quarter. BlackRock Inc. grew its holdings in Grand Canyon Education by 1.3% during the 4th quarter. BlackRock Inc. now owns 1,991,537 shares of the company’s stock valued at $191,468,000 after buying an additional 25,103 shares in the last quarter. Advisor Group Inc. grew its holdings in Grand Canyon Education by 14.9% during the 4th quarter. Advisor Group Inc. now owns 6,084 shares of the company’s stock valued at $584,000 after buying an additional 790 shares in the last quarter. Great West Life Assurance Co. Can grew its holdings in Grand Canyon Education by 8.7% during the 4th quarter. Great West Life Assurance Co. Can now owns 5,764 shares of the company’s stock valued at $533,000 after buying an additional 461 shares in the last quarter. Finally, United Services Automobile Association grew its holdings in Grand Canyon Education by 4.9% during the 4th quarter. United Services Automobile Association now owns 20,022 shares of the company’s stock valued at $1,925,000 after buying an additional 935 shares in the last quarter. 96.16% of the stock is owned by institutional investors.

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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