Perdoceo Education (NASDAQ:PRDO) Given “Buy” Rating at Barrington Research

Perdoceo Education (NASDAQ:PRDO)‘s stock had its “buy” rating reaffirmed by equities researchers at Barrington Research in a research note issued on Tuesday, reports. They currently have a $20.00 target price on the stock. Barrington Research’s target price would indicate a potential upside of 71.53% from the company’s previous close.

Several other equities research analysts also recently issued reports on PRDO. BidaskClub downgraded Perdoceo Education from a “hold” rating to a “sell” rating in a report on Monday, September 7th. TheStreet upgraded shares of Perdoceo Education from a “c+” rating to a “b-” rating in a research note on Thursday, July 16th. Finally, Zacks Investment Research downgraded shares of Perdoceo Education from a “buy” rating to a “hold” rating in a report on Tuesday. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and two have given a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $19.67.

Shares of NASDAQ:PRDO traded down $0.36 during trading on Tuesday, hitting $11.66. 553,900 shares of the company were exchanged, compared to its average volume of 614,971. Perdoceo Education has a fifty-two week low of $7.11 and a fifty-two week high of $19.85. The stock has a market cap of $830.96 million, a price-to-earnings ratio of 8.10, a P/E/G ratio of 0.53 and a beta of 1.72. The firm has a fifty day moving average price of $14.55 and a two-hundred day moving average price of $14.26.

Perdoceo Education (NASDAQ:PRDO) last released its earnings results on Thursday, August 6th. The company reported $0.40 earnings per share for the quarter, beating the consensus estimate of $0.37 by $0.03. Perdoceo Education had a net margin of 15.60% and a return on equity of 24.90%. The business had revenue of $176.00 million during the quarter, compared to analysts’ expectations of $173.57 million. Perdoceo Education’s quarterly revenue was up 12.5% compared to the same quarter last year. As a group, sell-side analysts predict that Perdoceo Education will post 1.52 EPS for the current fiscal year.

In other Perdoceo Education news, CFO Ashish R. Ghia sold 46,454 shares of the business’s stock in a transaction dated Wednesday, July 15th. The shares were sold at an average price of $17.00, for a total value of $789,718.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP David C. Czeszewski sold 20,707 shares of the stock in a transaction that occurred on Thursday, September 10th. The stock was sold at an average price of $12.49, for a total transaction of $258,630.43. Following the transaction, the senior vice president now owns 104,785 shares in the company, valued at approximately $1,308,764.65. The disclosure for this sale can be found here. Corporate insiders own 3.55% of the company’s stock.

A number of large investors have recently modified their holdings of the stock. BlackRock Inc. acquired a new position in Perdoceo Education in the 1st quarter valued at $114,237,000. FMR LLC lifted its position in Perdoceo Education by 40.8% during the second quarter. FMR LLC now owns 3,531,331 shares of the company’s stock worth $56,254,000 after purchasing an additional 1,022,638 shares during the period. State Street Corp acquired a new stake in Perdoceo Education during the first quarter worth about $24,107,000. Geode Capital Management LLC bought a new position in Perdoceo Education in the 1st quarter valued at about $11,243,000. Finally, Bank of New York Mellon Corp acquired a new position in shares of Perdoceo Education in the 2nd quarter valued at approximately $11,700,000. 89.67% of the stock is currently owned by institutional investors and hedge funds.

Perdoceo Education Company Profile

Perdoceo 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. It operates through three segments: Colorado Technical University, American InterContinental University, and All Other Campuses.

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