Grand Canyon Education (NASDAQ:LOPE) Downgraded by Zacks Research to Hold

Key Points

• Grand Canyon Education has been downgraded by Zacks Research from a "strong-buy" to a "hold" rating, reflecting a shift in market sentiment regarding the company's stock performance.
• BMO Capital Markets has decreased its target price for Grand Canyon Education from $222.00 to $210.00, while Barrington Research maintains an "outperform" rating with a price target of $230.00.
• The company reported a quarterly revenue increase of 8.8% year-over-year, along with earnings per share of $1.53, surpassing analysts' estimates by $0.16.

Grand Canyon Education (NASDAQ:LOPE - Get Free Report) was downgraded by analysts at Zacks Research from a "strong-buy" rating to a "hold" rating in a research note issued on Monday,Zacks.com reports.

Other analysts also recently issued research reports about the company. BMO Capital Markets lowered their target price on Grand Canyon Education from $222.00 to $210.00 and set an "outperform" rating on the stock in a research report on Monday, July 7th. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Grand Canyon Education in a research report on Saturday, September 27th. Barrington Research reissued an "outperform" rating and set a $230.00 price target on shares of Grand Canyon Education in a research report on Tuesday, September 23rd. Finally, Wall Street Zen raised Grand Canyon Education from a "hold" rating to a "buy" rating in a research report on Saturday, August 9th. Four equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. According to data from MarketBeat, Grand Canyon Education has an average rating of "Moderate Buy" and an average price target of $208.67.

Grand Canyon Education Price Performance

LOPE opened at $209.23 on Monday. The business's 50-day moving average price is $202.02 and its two-hundred day moving average price is $188.80. Grand Canyon Education has a 1 year low of $130.69 and a 1 year high of $220.79. The company has a market capitalization of $5.88 billion, a price-to-earnings ratio of 25.33, a P/E/G ratio of 1.59 and a beta of 0.76.

Grand Canyon Education (NASDAQ:LOPE - Get Free Report) last released its earnings results on Wednesday, August 6th. The company reported $1.53 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.37 by $0.16. The business had revenue of $247.50 million for the quarter, compared to the consensus estimate of $240.90 million. Grand Canyon Education had a return on equity of 31.50% and a net margin of 22.15%.Grand Canyon Education's quarterly revenue was up 8.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.19 earnings per share. Sell-side analysts anticipate that Grand Canyon Education will post 8.81 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Grand Canyon Education

Institutional investors have recently made changes to their positions in the company. SVB Wealth LLC bought a new stake in shares of Grand Canyon Education during the first quarter worth approximately $26,000. Caitong International Asset Management Co. Ltd bought a new stake in shares of Grand Canyon Education during the first quarter worth approximately $35,000. WPG Advisers LLC bought a new stake in shares of Grand Canyon Education during the first quarter worth approximately $44,000. Migdal Insurance & Financial Holdings Ltd. boosted its holdings in shares of Grand Canyon Education by 58.2% during the first quarter. Migdal Insurance & Financial Holdings Ltd. now owns 261 shares of the company's stock worth $45,000 after acquiring an additional 96 shares during the period. Finally, IFP Advisors Inc boosted its stake in shares of Grand Canyon Education by 2,172.7% in the second quarter. IFP Advisors Inc now owns 250 shares of the company's stock valued at $47,000 after buying an additional 239 shares during the period. Institutional investors own 94.17% of the company's stock.

Grand Canyon Education Company Profile

Grand Canyon Education, Inc provides education services to colleges and universities in the United States. It offers technology services, including learning management system, internal administration, infrastructure, and support services; academic services, such as program and curriculum, faculty and related training and development, class scheduling, and skills and simulation lab sites; and counseling services and support services comprising admission, financial aid, and field experience and other counseling services.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.