Career Education (NASDAQ:CECO) Lifted to Sell at BidaskClub

BidaskClub upgraded shares of Career Education (NASDAQ:CECO) from a strong sell rating to a sell rating in a research report released on Wednesday morning, BidAskClub reports.

A number of other analysts have also issued reports on CECO. TheStreet lowered Career Education from a b rating to a c+ rating in a research report on Thursday, August 8th. ValuEngine raised Career Education from a sell rating to a hold rating in a research report on Thursday, October 31st. Barrington Research reaffirmed a buy rating and set a $26.00 target price on shares of Career Education in a research report on Thursday, October 10th. Sidoti dropped their target price on Career Education from $26.00 to $23.00 and set a buy rating on the stock in a research report on Tuesday, October 22nd. Finally, Zacks Investment Research raised Career Education from a hold rating to a buy rating and set a $18.00 target price on the stock in a research report on Thursday, October 3rd. One research analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the company. The stock presently has a consensus rating of Hold and an average price target of $22.33.

Shares of CECO stock traded up $0.16 during mid-day trading on Wednesday, hitting $16.06. 893,500 shares of the company’s stock were exchanged, compared to its average volume of 514,638. Career Education has a fifty-two week low of $11.01 and a fifty-two week high of $22.50. The stock has a market cap of $1.05 billion, a price-to-earnings ratio of 15.30, a PEG ratio of 0.80 and a beta of 1.43. The company has a quick ratio of 2.49, a current ratio of 2.50 and a debt-to-equity ratio of 0.11. The stock has a 50-day simple moving average of $15.34 and a two-hundred day simple moving average of $18.46.

Career Education (NASDAQ:CECO) last announced its earnings results on Wednesday, November 6th. The company reported $0.33 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.25 by $0.08. Career Education had a return on equity of 25.42% and a net margin of 8.78%. The business had revenue of $155.00 million for the quarter, compared to analyst estimates of $146.70 million. During the same period in the previous year, the company earned $0.25 earnings per share. The company’s revenue for the quarter was up 6.4% compared to the same quarter last year. As a group, analysts anticipate that Career Education will post 1.25 earnings per share for the current fiscal year.

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In related news, insider Michele A. Peppers sold 5,000 shares of the business’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $21.56, for a total value of $107,800.00. Following the completion of the sale, the insider now directly owns 66,473 shares of the company’s stock, valued at $1,433,157.88. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Thomas B. Lally sold 16,000 shares of the business’s stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $15.75, for a total value of $252,000.00. Following the completion of the sale, the director now directly owns 50,619 shares of the company’s stock, valued at $797,249.25. The disclosure for this sale can be found here. Over the last three months, insiders sold 302,808 shares of company stock valued at $5,367,442. 5.58% of the stock is owned by corporate insiders.

A number of institutional investors have recently made changes to their positions in the stock. C M Bidwell & Associates Ltd. bought a new position in shares of Career Education during the second quarter valued at approximately $33,000. Daiwa Securities Group Inc. bought a new position in shares of Career Education during the second quarter valued at approximately $80,000. NumerixS Investment Technologies Inc bought a new position in shares of Career Education during the second quarter valued at approximately $145,000. Nkcfo LLC bought a new position in shares of Career Education during the second quarter valued at approximately $151,000. Finally, Public Employees Retirement Association of Colorado bought a new position in shares of Career Education during the second quarter valued at approximately $208,000. 84.52% 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.

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