Barrington Research Forecasts Strong Price Appreciation for Grand Canyon Education (NASDAQ:LOPE) Stock

Grand Canyon Education (NASDAQ:LOPE) had its price objective boosted by Barrington Research from $165.00 to $180.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Barrington Research’s price target indicates a potential upside of 4.34% from the company’s previous close. Barrington Research also issued estimates for Grand Canyon Education’s FY2024 earnings at $8.03 EPS and FY2025 earnings at $8.81 EPS.

LOPE has been the subject of several other research reports. BMO Capital Markets upped their price target on Grand Canyon Education from $160.00 to $162.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 7th. StockNews.com cut shares of Grand Canyon Education from a “buy” rating to a “hold” rating in a research note on Wednesday, October 9th.

Grand Canyon Education Stock Performance

Shares of LOPE stock traded up $8.98 during trading hours on Thursday, hitting $172.52. 504,597 shares of the company were exchanged, compared to its average volume of 162,311. The stock has a market capitalization of $5.08 billion, a price-to-earnings ratio of 22.67, a P/E/G ratio of 1.34 and a beta of 0.70. The business’s 50-day simple moving average is $139.96 and its two-hundred day simple moving average is $141.66. Grand Canyon Education has a one year low of $118.48 and a one year high of $172.88.

Grand Canyon Education (NASDAQ:LOPE) last posted its quarterly earnings data on Wednesday, November 6th. The company reported $1.48 EPS for the quarter, topping analysts’ consensus estimates of $1.47 by $0.01. The company had revenue of $238.30 million for the quarter, compared to the consensus estimate of $239.69 million. Grand Canyon Education had a return on equity of 31.20% and a net margin of 22.09%. The company’s quarterly revenue was up 7.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.26 EPS. As a group, analysts anticipate that Grand Canyon Education will post 7.98 EPS for the current fiscal year.

Insiders Place Their Bets

In other Grand Canyon Education news, CTO Dilek Marsh sold 1,500 shares of Grand Canyon Education stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $141.23, for a total value of $211,845.00. Following the completion of the sale, the chief technology officer now owns 22,674 shares in the company, valued at $3,202,249.02. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 2.00% of the company’s stock.

Institutional Investors Weigh In On Grand Canyon Education

A number of hedge funds have recently added to or reduced their stakes in the company. Reston Wealth Management LLC bought a new position in Grand Canyon Education during the third quarter valued at about $28,000. Versant Capital Management Inc boosted its stake in Grand Canyon Education by 14,150.0% during the second quarter. Versant Capital Management Inc now owns 285 shares of the company’s stock valued at $40,000 after buying an additional 283 shares during the period. Capital Performance Advisors LLP purchased a new position in Grand Canyon Education in the 3rd quarter worth approximately $60,000. Blue Trust Inc. raised its position in Grand Canyon Education by 710.7% during the second quarter. Blue Trust Inc. now owns 608 shares of the company’s stock valued at $83,000 after purchasing an additional 533 shares in the last quarter. Finally, GAMMA Investing LLC increased its holdings in shares of Grand Canyon Education by 46.1% in the second quarter. GAMMA Investing LLC now owns 640 shares of the company’s stock worth $90,000 after buying an additional 202 shares during the period. Institutional investors and hedge funds 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.