Grand Canyon Education (NASDAQ:LOPE) Reaches New 52-Week High - Here's What Happened

Key Points

• Grand Canyon Education's stock reached a new 52-week high at $202.84 during trading, closing at $201.13 with a trading volume of 35,138 shares.
• The company reported better-than-expected earnings of $1.53 per share for the last quarter, surpassing analysts’ estimates by $0.16 and showing an 8.8% revenue increase year-over-year.
• Analysts maintain a consensus "Buy" rating for the stock, with an average target price of $203.67, and both BMO Capital Markets and Barrington Research have provided positive outlooks on its valuation.

Grand Canyon Education, Inc. (NASDAQ:LOPE - Get Free Report) reached a new 52-week high during trading on Tuesday . The stock traded as high as $202.84 and last traded at $201.13, with a volume of 35138 shares trading hands. The stock had previously closed at $199.35.

Wall Street Analysts Forecast Growth

LOPE has been the subject of several research reports. Barrington Research reaffirmed an "outperform" rating and set a $215.00 price target on shares of Grand Canyon Education in a research report on Thursday, August 7th. Wall Street Zen raised shares of Grand Canyon Education from a "hold" rating to a "buy" rating in a research report on Saturday, August 9th. Finally, BMO Capital Markets reduced their price target on shares of Grand Canyon Education from $222.00 to $210.00 and set an "outperform" rating for the company in a research report on Monday, July 7th. Three analysts have rated the stock with a Buy rating, According to MarketBeat.com, Grand Canyon Education has an average rating of "Buy" and a consensus price target of $203.67.

Grand Canyon Education Trading Down 0.9%

The stock has a market capitalization of $5.71 billion, a P/E ratio of 24.62, a P/E/G ratio of 1.49 and a beta of 0.79. The business has a 50-day moving average price of $182.75 and a 200 day moving average price of $181.64.

Grand Canyon Education (NASDAQ:LOPE - Get Free Report) last issued its quarterly earnings results on Wednesday, August 6th. The company reported $1.53 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.37 by $0.16. The company had revenue of $247.50 million during 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 revenue was up 8.8% on a year-over-year basis. During the same period last year, the company earned $1.19 earnings per share. On average, sell-side analysts predict that Grand Canyon Education, Inc. will post 8.81 earnings per share for the current fiscal year.

Institutional Trading of Grand Canyon Education

Hedge funds and other institutional investors have recently bought and sold shares of the business. OneDigital Investment Advisors LLC purchased a new stake in Grand Canyon Education in the first quarter worth $232,000. Convergence Financial LLC purchased a new stake in Grand Canyon Education in the first quarter worth $249,000. Bessemer Group Inc. increased its stake in Grand Canyon Education by 244.2% in the first quarter. Bessemer Group Inc. now owns 716 shares of the company's stock worth $124,000 after purchasing an additional 508 shares during the period. Informed Momentum Co LLC purchased a new stake in Grand Canyon Education in the first quarter worth $3,721,000. Finally, 111 Capital purchased a new stake in Grand Canyon Education in the fourth quarter worth $528,000. Hedge funds and other institutional investors own 94.17% of the company's stock.

About Grand Canyon Education

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.