BidaskClub Lowers Career Education (NASDAQ:CECO) to Strong Sell

BidaskClub lowered shares of Career Education (NASDAQ:CECO) from a sell rating to a strong sell rating in a research note issued to investors on Friday, BidAskClub reports.

Several other equities research analysts also recently issued reports on the company. Barrington Research reiterated an outperform rating and set a $26.00 price target (up previously from $24.00) on shares of Career Education in a report on Thursday, August 8th. TheStreet downgraded Career Education from a b rating to a c+ rating in a report on Thursday, August 8th. Sidoti set a $24.00 price target on Career Education and gave the stock a buy rating in a report on Friday, June 7th. Finally, Zacks Investment Research downgraded Career Education from a buy rating to a hold rating in a report on Tuesday, July 30th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the company’s stock. Career Education has a consensus rating of Hold and an average price target of $24.00.

Shares of Career Education stock opened at $19.05 on Friday. The stock has a fifty day simple moving average of $20.50 and a 200 day simple moving average of $18.79. Career Education has a 12-month low of $11.01 and a 12-month high of $22.50. The company has a market capitalization of $1.36 billion, a P/E ratio of 18.14, a price-to-earnings-growth ratio of 1.06 and a beta of 1.53. The company has a current ratio of 2.50, a quick ratio of 2.49 and a debt-to-equity ratio of 0.11.

Career Education (NASDAQ:CECO) last announced its quarterly earnings results on Wednesday, August 7th. The company reported $0.39 earnings per share (EPS) 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 business had revenue of $156.44 million during the quarter, compared to the consensus estimate of $148.10 million. During the same quarter in the prior year, the company posted $0.23 earnings per share. Career Education’s revenue was up 10.1% compared to the same quarter last year. On average, analysts predict that Career Education will post 1.22 EPS for the current year.

In other Career Education news, SVP David C. Czeszewski sold 14,659 shares of the company’s stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $21.98, for a total value of $322,204.82. Following the completion of the transaction, the senior vice president now owns 118,031 shares in the company, valued at approximately $2,594,321.38. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP John Robert Kline sold 4,789 shares of the company’s stock in a transaction on Tuesday, July 23rd. The shares were sold at an average price of $19.63, for a total value of $94,008.07. Following the completion of the transaction, the senior vice president now owns 170,999 shares of the company’s stock, valued at approximately $3,356,710.37. The disclosure for this sale can be found here. Insiders have sold 54,726 shares of company stock valued at $1,182,387 in the last quarter. 5.58% of the stock is currently owned by corporate insiders.

A number of large investors have recently made changes to their positions in the business. Mackenzie Financial Corp bought a new position in Career Education in the 2nd quarter valued at $6,025,000. Intrinsic Edge Capital Management LLC grew its stake in Career Education by 899.5% in the 2nd 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 during the period. Verition Fund Management LLC bought a new position in Career Education in the 2nd quarter valued at $290,000. Amundi Pioneer Asset Management Inc. grew its stake in Career Education by 162.9% in the 2nd quarter. Amundi Pioneer Asset Management Inc. now owns 88,632 shares of the company’s stock valued at $1,690,000 after purchasing an additional 54,915 shares during the period. Finally, Voloridge Investment Management LLC bought a new position in Career Education in the 2nd quarter valued at $457,000. Hedge funds and other institutional investors own 84.72% of the company’s stock.

About Career Education

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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