Grand Canyon Education (LOPE) Rating Increased to Buy at Zacks Investment Research

Grand Canyon Education (NASDAQ:LOPE) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Friday. The brokerage presently has a $102.00 target price on the stock. Zacks Investment Research‘s price target suggests a potential upside of 10.71% from the company’s previous close.

According to Zacks, “Grand Canyon Education, Inc. is a regionally accredited provider of online postsecondary education services focused on offering graduate and undergraduate degree programs in its core disciplines of education, business, and healthcare. In addition to its online programs, it offers programs at its traditional campus in Phoenix, Arizona and onsite at the facilities of employers. “

Several other equities analysts have also weighed in on the stock. ValuEngine upgraded shares of Grand Canyon Education from a “hold” rating to a “buy” rating in a report on Friday, September 1st. Robert W. Baird increased their price objective on shares of Grand Canyon Education from $85.00 to $95.00 and gave the company an “outperform” rating in a report on Thursday, November 2nd. Barrington Research restated an “outperform” rating and issued a $103.00 price objective (up from $98.00) on shares of Grand Canyon Education in a report on Thursday, November 2nd. BMO Capital Markets restated a “buy” rating and issued a $97.00 price objective on shares of Grand Canyon Education in a report on Wednesday, October 25th. Finally, Piper Jaffray Companies increased their price objective on shares of Grand Canyon Education from $83.00 to $92.00 and gave the company an “overweight” rating in a report on Wednesday, October 11th. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $100.80.

Grand Canyon Education (NASDAQ LOPE) opened at $92.13 on Friday. Grand Canyon Education has a 12-month low of $56.52 and a 12-month high of $96.15. The stock has a market cap of $4,433.39, a P/E ratio of 24.44, a PEG ratio of 1.82 and a beta of 1.35. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.36 and a current ratio of 1.36.

Grand Canyon Education (NASDAQ:LOPE) last announced its earnings results on Wednesday, November 1st. The company reported $0.81 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.76 by $0.05. Grand Canyon Education had a net margin of 19.32% and a return on equity of 21.40%. The company had revenue of $236.21 million for the quarter, compared to analyst estimates of $231.43 million. During the same period in the prior year, the business earned $0.62 earnings per share. Grand Canyon Education’s quarterly revenue was up 12.2% on a year-over-year basis. research analysts anticipate that Grand Canyon Education will post 3.9 EPS for the current fiscal year.

Large investors have recently modified their holdings of the business. Summit Creek Advisors LLC increased its stake in Grand Canyon Education by 40.7% in the third quarter. Summit Creek Advisors LLC now owns 155,255 shares of the company’s stock valued at $14,100,000 after purchasing an additional 44,905 shares in the last quarter. Chicago Equity Partners LLC bought a new stake in Grand Canyon Education in the second quarter valued at approximately $2,364,000. Dupont Capital Management Corp bought a new stake in Grand Canyon Education in the third quarter valued at approximately $328,000. Robeco Institutional Asset Management B.V. bought a new stake in Grand Canyon Education in the second quarter valued at approximately $2,970,000. Finally, Prudential Financial Inc. increased its stake in Grand Canyon Education by 34.0% in the second quarter. Prudential Financial Inc. now owns 207,253 shares of the company’s stock valued at $16,251,000 after purchasing an additional 52,560 shares in the last quarter. 96.32% of the stock is owned by hedge funds and other institutional investors.

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About Grand Canyon Education

Grand Canyon Education, Inc is engaged in the provision of postsecondary education. The Company is a regionally accredited university. The Company offers the degrees, including Doctor of Education, Doctor of Business Administration, Doctor of Nursing Practice, Doctor of Philosophy, Education Specialist, Master of Divinity, Master of Arts, Master of Education, Master of Business Administration and Master of Public Administration, Master of Public Health, Master of Science, Bachelor of Arts, Bachelor of Science, and a range of programs for its degrees.

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