Equities researchers at Barrington Research initiated coverage on shares of Career Education (NASDAQ:CECO) in a research note issued on Sunday. The firm set an “outperform” rating and a $13.49 price target on the stock. Barrington Research’s target price suggests a potential upside of 4.98% from the company’s previous close. Barrington Research also issued estimates for Career Education’s Q4 2018 earnings at $0.24 EPS, FY2018 earnings at $0.90 EPS and FY2019 earnings at $1.10 EPS.
A number of other research firms have also recently issued reports on CECO. ValuEngine cut shares of Career Education from a “buy” rating to a “hold” rating in a research note on Friday, November 2nd. BidaskClub cut shares of Career Education from a “hold” rating to a “sell” rating in a research note on Saturday, September 8th. Finally, Zacks Investment Research cut shares of Career Education from a “hold” rating to a “sell” rating in a research note on Tuesday, November 6th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $17.50.
Shares of NASDAQ:CECO traded down $0.50 during trading on Friday, reaching $12.85. The stock had a trading volume of 213,286 shares, compared to its average volume of 291,241. Career Education has a 52 week low of $11.38 and a 52 week high of $19.07. The stock has a market capitalization of $896.43 million, a P/E ratio of 41.45, a price-to-earnings-growth ratio of 1.14 and a beta of 1.79.
In related news, SVP John Robert Kline sold 4,700 shares of the business’s stock in a transaction that occurred on Friday, September 28th. The shares were sold at an average price of $15.00, for a total value of $70,500.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Andrew Hurst sold 16,531 shares of the business’s stock in a transaction that occurred on Monday, December 3rd. The stock was sold at an average price of $14.00, for a total transaction of $231,434.00. The disclosure for this sale can be found here. Insiders sold a total of 22,531 shares of company stock valued at $320,550 in the last 90 days. 5.01% of the stock is currently owned by corporate insiders.
A number of hedge funds have recently bought and sold shares of CECO. FMR LLC bought a new position in Career Education in the 2nd quarter worth approximately $27,152,000. BlackRock Inc. raised its position in Career Education by 9.5% in the 2nd quarter. BlackRock Inc. now owns 9,361,124 shares of the company’s stock worth $151,368,000 after purchasing an additional 815,638 shares during the last quarter. Braun Stacey Associates Inc. bought a new position in Career Education in the 3rd quarter worth approximately $9,744,000. Millennium Management LLC raised its position in Career Education by 330.4% in the 2nd quarter. Millennium Management LLC now owns 582,500 shares of the company’s stock worth $9,419,000 after purchasing an additional 447,159 shares during the last quarter. Finally, Frontier Capital Management Co. LLC raised its position in Career Education by 4.3% in the 3rd quarter. Frontier Capital Management Co. LLC now owns 6,957,548 shares of the company’s stock worth $103,876,000 after purchasing an additional 289,554 shares during the last quarter. Hedge funds and other institutional investors own 81.53% 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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