Career Education (NASDAQ:CECO) Rating Lowered to Strong Sell at BidaskClub

Career Education (NASDAQ:CECO) was downgraded by research analysts at BidaskClub from a “sell” rating to a “strong sell” rating in a research note issued on Friday, BidAskClub reports.

A number of other brokerages also recently issued reports on CECO. TheStreet downgraded shares of Career Education from a “b” rating to a “c+” rating in a research note on Thursday, August 8th. Barrington Research reiterated a “buy” rating and set a $26.00 price objective on shares of Career Education in a research note on Thursday. ValuEngine downgraded shares of Career Education from a “hold” rating to a “sell” rating in a research note on Saturday, October 5th. Finally, Zacks Investment Research upgraded shares of Career Education from a “hold” rating to a “buy” rating and set a $18.00 price objective on the stock in a research note on Thursday, October 3rd. Two investment analysts have rated the stock with a sell rating and three have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $22.67.

Career Education stock traded up $0.41 during trading hours on Friday, reaching $15.23. 571,000 shares of the stock were exchanged, compared to its average volume of 778,251. The company has a market cap of $1.04 billion, a P/E ratio of 11.39, a price-to-earnings-growth ratio of 0.79 and a beta of 1.47. 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 has a twelve month low of $11.01 and a twelve month high of $22.50. The stock has a 50 day moving average of $18.37 and a two-hundred day moving average of $18.78.

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

In other news, SVP Jeffrey David Ayers sold 48,886 shares of the stock in a transaction dated Tuesday, October 8th. The shares were sold at an average price of $15.38, for a total value of $751,866.68. Following the completion of the transaction, the senior vice president now owns 227,793 shares of the company’s stock, valued at $3,503,456.34. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP John Robert Kline sold 5,000 shares of the stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $22.22, for a total transaction of $111,100.00. Following the completion of the transaction, the senior vice president now directly owns 66,473 shares of the company’s stock, valued at approximately $1,477,030.06. The disclosure for this sale can be found here. Insiders sold 307,597 shares of company stock valued at $5,461,450 in the last three months. Company insiders own 5.58% of the company’s stock.

Several hedge funds have recently bought and sold shares of CECO. C M Bidwell & Associates Ltd. bought a new position in shares of Career Education in the second quarter worth about $33,000. Daiwa Securities Group Inc. bought a new position in shares of Career Education in the second quarter worth about $80,000. NumerixS Investment Technologies Inc bought a new position in shares of Career Education in the second quarter worth about $145,000. Nkcfo LLC bought a new position in shares of Career Education in the second quarter worth about $151,000. Finally, Public Employees Retirement Association of Colorado bought a new position in shares of Career Education in the second quarter worth about $208,000. 84.72% of the stock is 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.

Featured Article: If I purchase shares through a brokerage account, am I the holder of record?

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.