Grand Canyon Education (NASDAQ:LOPE) Upgraded by Wall Street Zen to "Buy" Rating

Key Points

• Grand Canyon Education's stock rating was upgraded from "hold" to "buy" by Wall Street Zen in a recent report, indicating a positive outlook for the company.
• The company reported strong quarterly earnings of $1.53 per share, surpassing analysts' expectations, with revenue also exceeding forecasts at $247.50 million.
• Institutional investors hold a substantial 94.17% stake in Grand Canyon Education, highlighting significant confidence from major financial players.

Grand Canyon Education (NASDAQ:LOPE - Get Free Report) was upgraded by analysts at Wall Street Zen from a "hold" rating to a "buy" rating in a report issued on Saturday.

A number of other research analysts have also commented on LOPE. Barrington Research restated an "outperform" rating and issued a $215.00 target price on shares of Grand Canyon Education in a research note on Thursday. BMO Capital Markets cut their target price on Grand Canyon Education from $222.00 to $210.00 and set an "outperform" rating for the company in a research note on Monday, July 7th.

Grand Canyon Education Price Performance

LOPE traded down $2.44 on Friday, hitting $195.79. The company had a trading volume of 408,760 shares, compared to its average volume of 218,763. The company's fifty day moving average price is $180.66 and its 200 day moving average price is $180.11. Grand Canyon Education has a 1-year low of $130.69 and a 1-year high of $202.28. The stock has a market cap of $5.50 billion, a price-to-earnings ratio of 23.70, a price-to-earnings-growth ratio of 1.46 and a beta of 0.79.

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

Hedge Funds Weigh In On Grand Canyon Education

Hedge funds have recently added to or reduced their stakes in the stock. SVB Wealth LLC acquired a new position in Grand Canyon Education in the first quarter valued at about $26,000. GeoWealth Management LLC acquired a new position in Grand Canyon Education in the fourth quarter valued at about $25,000. Caitong International Asset Management Co. Ltd acquired a new position in Grand Canyon Education in the first quarter valued at about $35,000. IFP Advisors Inc lifted its stake in 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. Finally, WPG Advisers LLC acquired a new position in Grand Canyon Education in the first quarter valued at about $44,000. Institutional investors and hedge funds 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.