Grand Canyon Education (NASDAQ:LOPE) Reaches New 12-Month High - Still a Buy?

Key Points

• Grand Canyon Education's shares reached a new 12-month high of $207.86 on Thursday, following a solid increase from the previous closing price of $202.49.
• The company reported a quarterly earnings per share (EPS) of $1.53, exceeding analyst expectations of $1.37, with a revenue increase of 8.8% year-over-year.
• Analyst ratings for Grand Canyon Education are predominantly positive, with an average rating of "Buy" and a target price of $203.67.

Grand Canyon Education, Inc. (NASDAQ:LOPE - Get Free Report)'s share price hit a new 52-week high on Thursday . The company traded as high as $207.86 and last traded at $207.74, with a volume of 62378 shares traded. The stock had previously closed at $202.49.

Analyst Upgrades and Downgrades

LOPE has been the topic of several recent analyst reports. Barrington Research reissued an "outperform" rating and set a $215.00 target price on shares of Grand Canyon Education in a research note on Thursday, August 7th. Wall Street Zen raised Grand Canyon Education from a "hold" rating to a "buy" rating in a report on Saturday, August 9th. Finally, BMO Capital Markets dropped their price objective on Grand Canyon Education from $222.00 to $210.00 and set an "outperform" rating on the stock in a report on Monday, July 7th. Three equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the company has an average rating of "Buy" and an average target price of $203.67.

Grand Canyon Education Price Performance

The firm has a market cap of $5.88 billion, a price-to-earnings ratio of 25.36, a PEG ratio of 1.51 and a beta of 0.80. The business has a fifty day simple moving average of $186.84 and a 200 day simple moving average of $183.48.

Grand Canyon Education (NASDAQ:LOPE - Get Free Report) last issued its quarterly earnings results on Wednesday, August 6th. The company reported $1.53 EPS 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 analysts' expectations of $240.90 million. During the same period in the previous year, the business earned $1.19 earnings per share. The firm's revenue for the quarter was up 8.8% on a year-over-year basis. On average, research analysts anticipate that Grand Canyon Education, Inc. will post 8.81 earnings per share for the current fiscal year.

Institutional Trading of Grand Canyon Education

Large investors have recently bought and sold shares of the business. Osaic Holdings Inc. raised its holdings in Grand Canyon Education by 395.9% in the 2nd quarter. Osaic Holdings Inc. now owns 3,293 shares of the company's stock valued at $610,000 after acquiring an additional 2,629 shares during the last quarter. Geneos Wealth Management Inc. grew its position in shares of Grand Canyon Education by 20.7% in the second quarter. Geneos Wealth Management Inc. now owns 955 shares of the company's stock valued at $180,000 after purchasing an additional 164 shares in the last quarter. Public Sector Pension Investment Board increased its holdings in shares of Grand Canyon Education by 0.5% in the second quarter. Public Sector Pension Investment Board now owns 53,543 shares of the company's stock valued at $10,120,000 after purchasing an additional 275 shares during the last quarter. Headlands Technologies LLC lifted its position in Grand Canyon Education by 363.2% during the second quarter. Headlands Technologies LLC now owns 2,302 shares of the company's stock worth $435,000 after buying an additional 1,805 shares in the last quarter. Finally, State of Tennessee Department of Treasury lifted its position in Grand Canyon Education by 6.9% during the second quarter. State of Tennessee Department of Treasury now owns 12,546 shares of the company's stock worth $2,371,000 after buying an additional 805 shares in the last quarter. 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.

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