Career Education (NASDAQ:CECO) Raised to “Hold” at BidaskClub

BidaskClub upgraded shares of Career Education (NASDAQ:CECO) from a sell rating to a hold rating in a research note issued to investors on Saturday morning, BidAskClub reports.

A number of other research analysts also recently commented on CECO. TheStreet downgraded shares of Career Education from a b rating to a c+ rating in a research report on Thursday, August 8th. Barrington Research reissued an outperform rating and set a $26.00 target price (up previously from $24.00) on shares of Career Education in a research report on Thursday, August 8th. Sidoti set a $24.00 target price on shares of Career Education and gave the company a buy rating in a research report on Friday, June 7th. Finally, Zacks Investment Research cut shares of Career Education from a buy rating to a hold rating in a report on Tuesday, July 30th. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Career Education presently has a consensus rating of Buy and a consensus price target of $24.00.

NASDAQ CECO opened at $21.99 on Friday. The company has a debt-to-equity ratio of 0.11, a quick ratio of 2.49 and a current ratio of 2.50. The company has a market capitalization of $1.53 billion, a price-to-earnings ratio of 20.94, a price-to-earnings-growth ratio of 1.20 and a beta of 1.56. The company’s 50-day simple moving average is $19.95 and its two-hundred day simple moving average is $17.93. Career Education has a one year low of $11.01 and a one year high of $22.44.

Career Education (NASDAQ:CECO) last posted its earnings results on Wednesday, August 7th. The company reported $0.39 EPS for the quarter, beating analysts’ consensus estimates of $0.29 by $0.10. The business had revenue of $156.44 million for the quarter, compared to the consensus estimate of $148.10 million. Career Education had a net margin of 8.78% and a return on equity of 25.42%. The company’s revenue for the quarter was up 10.1% on a year-over-year basis. During the same quarter last year, the firm posted $0.23 EPS. Equities analysts expect that Career Education will post 1.22 earnings per share for the current fiscal year.

In other news, SVP David C. Czeszewski sold 15,278 shares of the firm’s stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $21.31, for a total value of $325,574.18. Following the sale, the senior vice president now directly owns 128,409 shares in the company, valued at approximately $2,736,395.79. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Michele A. Peppers sold 5,000 shares of the firm’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $21.56, for a total transaction of $107,800.00. The disclosure for this sale can be found here. Insiders sold a total of 25,067 shares of company stock worth $527,382 over the last 90 days. Company insiders own 5.58% of the company’s stock.

Large investors have recently added to or reduced their stakes in the company. Convergence Investment Partners LLC bought a new stake in shares of Career Education in the 2nd quarter valued at about $225,000. Rhumbline Advisers boosted its stake in Career Education by 0.5% in the 1st quarter. Rhumbline Advisers now owns 194,691 shares of the company’s stock worth $3,216,000 after purchasing an additional 924 shares in the last quarter. Acadian Asset Management LLC acquired a new stake in Career Education in the 1st quarter worth approximately $2,019,000. New York State Teachers Retirement System boosted its stake in Career Education by 10.5% in the 2nd quarter. New York State Teachers Retirement System now owns 169,860 shares of the company’s stock worth $3,239,000 after purchasing an additional 16,200 shares in the last quarter. Finally, James Investment Research Inc. acquired a new stake in Career Education in the 1st quarter worth approximately $682,000. Institutional investors and hedge funds own 85.72% of the company’s stock.

Career Education Company Profile

Career Education Corporation operates colleges, institutions, and universities that provide education to student population in various career-oriented disciplines through online, campus based, and blended learning programs in the United States. The company operates through three segments: Colorado Technical University (CTU), American InterContinental University (AIU), and All Other Campuses.

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