Barrington Research Reaffirms “Buy” Rating for Career Education (NASDAQ:CECO)

Career Education (NASDAQ:CECO)‘s stock had its “buy” rating restated by equities research analysts at Barrington Research in a research note issued on Thursday, AnalystRatings.com reports. They presently have a $26.00 price objective on the stock. Barrington Research’s price objective indicates a potential upside of 70.83% from the company’s current price.

Several other equities research analysts also recently commented on CECO. TheStreet downgraded Career Education from a “b” rating to a “c+” rating in a report on Thursday, August 8th. BidaskClub raised Career Education from a “strong sell” rating to a “sell” rating in a report on Thursday, October 3rd. Zacks Investment Research raised Career Education from a “hold” rating to a “buy” rating and set a $18.00 target price on the stock in a report on Thursday, October 3rd. Finally, ValuEngine downgraded Career Education from a “hold” rating to a “sell” rating in a report on Saturday, October 5th. Two analysts have rated the stock with a sell rating and three have issued a buy rating to the company’s stock. Career Education has a consensus rating of “Hold” and a consensus price target of $22.67.

Shares of CECO stock opened at $15.22 on Thursday. The stock has a market cap of $1.07 billion, a price-to-earnings ratio of 11.75, a PEG ratio of 0.81 and a beta of 1.47. The business’s fifty day moving average is $18.37 and its 200 day moving average is $18.78. Career Education has a twelve month low of $11.01 and a twelve month high of $22.50. The company has a quick ratio of 2.49, a current ratio of 2.50 and a debt-to-equity ratio of 0.11.

Career Education (NASDAQ:CECO) last issued its quarterly earnings results on Wednesday, August 7th. The company reported $0.39 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.29 by $0.10. Career Education had a return on equity of 25.42% and a net margin of 8.78%. The company had revenue of $156.44 million for the quarter, compared to analysts’ expectations of $148.10 million. During the same period in the prior year, the firm earned $0.23 earnings per share. The firm’s revenue for the quarter was up 10.1% on a year-over-year basis. Equities research analysts expect that Career Education will post 1.25 earnings per share for the current fiscal year.

In other news, Director Thomas B. Lally sold 16,000 shares of the company’s stock in a transaction on Monday, October 7th. The stock was sold at an average price of $15.75, for a total transaction of $252,000.00. Following the transaction, the director now directly owns 50,619 shares of the company’s stock, valued at $797,249.25. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Jeffrey David Ayers sold 48,886 shares of the company’s stock in a transaction on Tuesday, October 8th. The shares were sold at an average price of $15.38, for a total value of $751,866.68. Following the transaction, the senior vice president now directly owns 227,793 shares in the company, valued at $3,503,456.34. The disclosure for this sale can be found here. Insiders sold 307,597 shares of company stock worth $5,461,450 over the last three months. Corporate insiders own 5.58% of the company’s stock.

Several large investors have recently made changes to their positions in the company. Alpine Group USVI LLC bought a new position in shares of Career Education during the third quarter valued at $222,000. Pacer Advisors Inc. bought a new position in shares of Career Education during the third quarter valued at $301,000. State of Alaska Department of Revenue lifted its holdings in shares of Career Education by 125.7% during the third quarter. State of Alaska Department of Revenue now owns 53,859 shares of the company’s stock valued at $855,000 after purchasing an additional 29,995 shares in the last quarter. Mackenzie Financial Corp bought a new position in shares of Career Education during the second quarter valued at $6,025,000. Finally, Intrinsic Edge Capital Management LLC lifted its holdings in shares of Career Education by 899.5% during the second quarter. Intrinsic Edge Capital Management LLC now owns 499,751 shares of the company’s stock valued at $9,530,000 after purchasing an additional 449,751 shares in the last quarter. 84.72% of the stock is currently owned by hedge funds and other institutional investors.

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.

Further Reading: Technical Analysis of Stocks, How Can It Help

Receive News & Ratings for Career Education Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Career Education and related companies with MarketBeat.com's FREE daily email newsletter.