Phoenix Education Partners (NYSE:PXED) Stock Gets Price Target Reduction from Truist Financial

Key Points

• Truist cut its price target on Phoenix Education Partners from $38 to $23 and maintained a Hold rating; the new target implies 6.9% upside from the prior close.
• PXED fell 8% on Wednesday to $21.52, near its 52-week low. Analyst sentiment has softened, with B. Riley and Morgan Stanley also downgrading the stock; the consensus rating remains Hold.
• The company reported quarterly EPS of $1.07, matching estimates, and revenue of $260.68 million. It also raised its quarterly dividend 9.5%, to $0.23 per share.

Phoenix Education Partners (NYSE:PXED - Get Free Report) had its target price reduced by stock analysts at Truist Financial from $38.00 to $23.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The brokerage currently has a "hold" rating on the stock. Truist Financial's target price indicates a potential upside of 6.90% from the company's previous close.

Other analysts have also issued reports about the company. Weiss Ratings cut Phoenix Education Partners from a "hold (c-)" rating to a "sell (d+)" rating in a research report on Thursday, October 8th. Zacks Research upgraded Phoenix Education Partners from a "strong sell" rating to a "hold" rating in a research note on Thursday, October 1st. B. Riley Financial lowered Phoenix Education Partners from a "buy" rating to a "neutral" rating and dropped their target price for the stock from $44.00 to $25.00 in a research report on Wednesday. Morgan Stanley downgraded Phoenix Education Partners from an "overweight" rating to an "equal weight" rating and set a $28.00 price target for the company. in a research note on Wednesday. Finally, BMO Capital Markets reduced their price target on Phoenix Education Partners from $36.00 to $33.00 and set an "outperform" rating for the company in a report on Monday, October 5th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $31.67.

Phoenix Education Partners Stock Down 8.0%

PXED traded down $1.88 on Wednesday, reaching $21.52. 73,703 shares of the company traded hands, compared to its average volume of 101,693. The company has a market cap of $775.62 million and a price-to-earnings ratio of 10.04. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.91 and a quick ratio of 1.92. The stock's 50 day moving average price is $26.01 and its 200-day moving average price is $28.84. Phoenix Education Partners has a 52-week low of $21.25 and a 52-week high of $35.90.

Phoenix Education Partners (NYSE:PXED - Get Free Report) last issued its earnings results on Tuesday, November 3rd. The company reported $1.07 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $1.07. Phoenix Education Partners had a net margin of 8.18% and a return on equity of 60.06%. The company had revenue of $260.68 million during the quarter. On average, sell-side analysts expect that Phoenix Education Partners will post 4.46 EPS for the current fiscal year.

Insider Buying and Selling at Phoenix Education Partners

In related news, insider John Woods sold 19,453 shares of Phoenix Education Partners stock in a transaction on Friday, October 9th. The shares were sold at an average price of $25.89, for a total value of $503,638.17. Following the completion of the sale, the insider owned 62,682 shares of the company's stock, valued at approximately $1,622,836.98. The trade was a 23.68% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last quarter, insiders have sold 20,703 shares of company stock worth $534,904. 5.00% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Phoenix Education Partners

Several hedge funds have recently bought and sold shares of the business. Wellington Management Group LLP boosted its stake in shares of Phoenix Education Partners by 48.3% during the 2nd quarter. Wellington Management Group LLP now owns 743,112 shares of the company's stock worth $24,411,000 after acquiring an additional 241,997 shares in the last quarter. BlackRock Inc. bought a new position in shares of Phoenix Education Partners in the 2nd quarter valued at approximately $12,620,000. Heartland Advisors Inc. acquired a new stake in Phoenix Education Partners in the 2nd quarter worth approximately $2,398,000. Bastion Asset Management Inc. acquired a new stake in Phoenix Education Partners in the 1st quarter worth approximately $2,085,000. Finally, Curated Wealth Partners LLC acquired a new stake in Phoenix Education Partners in the 3rd quarter worth approximately $1,653,000.

Key Phoenix Education Partners News

Here are the key news stories impacting Phoenix Education Partners this week:

• Positive Sentiment: The company raised its quarterly dividend 9.5%, from $0.21 to $0.23 per share. The new annualized payout is $0.92, equivalent to a yield of about 3.9%.
• Neutral Sentiment: Fiscal fourth-quarter earnings were $1.07 per share, in line with analyst estimates and up from $1.04 a year earlier. Revenue was $260.68 million; the reported results provide no clear earnings surprise to drive the shares. Phoenix Education Partners Q4 Earnings Match Estimates
• Negative Sentiment: B. Riley downgraded PXED from Buy to Neutral and cut its price target sharply, from $44 to $25. Although the new target remains above the recent share price, the lower rating and reduced target may weigh on sentiment. B. Riley Downgrades Phoenix Education Partners to Neutral
• Negative Sentiment: Morgan Stanley also downgraded PXED, moving its rating from Overweight to Equal Weight. Its $28 price target still implies potential upside from the recent price, but the rating change signals a less bullish view. Morgan Stanley recommendations

About Phoenix Education Partners

Phoenix Education Partners, Inc is a higher education company focused on serving working adults and other nontraditional students. Through the University of Phoenix, its principal operating institution, the company provides career-oriented undergraduate and graduate degree programs, professional certificates, and other educational offerings.

The University of Phoenix primarily delivers instruction through online learning, with programs designed to offer flexible scheduling for students balancing education with employment and other responsibilities.

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