Career Education (NASDAQ:CECO) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Wednesday. The firm presently has a $16.00 price target on the stock. Zacks Investment Research‘s price target would suggest a potential upside of 10.96% from the stock’s current price.
According to Zacks, “Career Education Corporation is an educational services company committed to providing quality, career-focused learning and led by passionate professionals who inspire individual worth and lifelong achievement. The universities of the Career Education family – American InterContinental UniversityR (AIU) and Colorado Technical UniversityR (CTU) – provide degree programs through the master’s or doctoral level as well as associate and bachelor’s levels to a diverse student population pursuing various career-oriented disciplines. They serve students on ground campuses and online with career-focused degree programs that meet the education demands of today’s busy adults. AIU and CTU continue to show innovation in higher education, advancing new personalized learning technologies like their intellipathTM adaptive learning platform, which allow students to more efficiently move toward pursuing a degree by receiving course credit for knowledge they can already demonstrate. “
Several other equities analysts have also recently issued reports on CECO. BidaskClub upgraded Career Education from a “sell” rating to a “hold” rating in a research report on Saturday, February 3rd. ValuEngine upgraded Career Education from a “hold” rating to a “buy” rating in a research report on Thursday, March 1st. Finally, Sidoti began coverage on Career Education in a research report on Wednesday, April 18th. They set a “buy” rating and a $21.00 price target on the stock. One research analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $16.67.
Career Education (NASDAQ:CECO) last issued its quarterly earnings results on Wednesday, May 2nd. The company reported $0.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.24 by $0.01. Career Education had a positive return on equity of 10.63% and a negative net margin of 3.36%. The company had revenue of $147.50 million for the quarter, compared to analysts’ expectations of $146.10 million. During the same period last year, the firm earned $0.07 EPS. The firm’s revenue for the quarter was down 9.0% on a year-over-year basis. sell-side analysts predict that Career Education will post 0.95 earnings per share for the current year.
In other news, SVP Jeffrey David Ayers sold 69,183 shares of the firm’s stock in a transaction on Thursday, May 3rd. The stock was sold at an average price of $14.00, for a total transaction of $968,562.00. Following the completion of the sale, the senior vice president now directly owns 213,714 shares of the company’s stock, valued at approximately $2,991,996. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 5.01% of the company’s stock.
Several institutional investors and hedge funds have recently added to or reduced their stakes in CECO. Jane Street Group LLC bought a new stake in shares of Career Education during the 4th quarter worth $125,000. Aperio Group LLC bought a new stake in shares of Career Education during the 4th quarter worth $145,000. Gotham Asset Management LLC bought a new stake in shares of Career Education during the 4th quarter worth $172,000. Paloma Partners Management Co bought a new stake in shares of Career Education during the 4th quarter worth $200,000. Finally, Teacher Retirement System of Texas bought a new stake in shares of Career Education during the 4th quarter worth $277,000. 76.87% of the stock is owned by institutional investors and hedge funds.
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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