ValuEngine Upgrades Career Education (CECO) to “Strong-Buy”

Career Education (NASDAQ:CECO) was upgraded by equities research analysts at ValuEngine from a “buy” rating to a “strong-buy” rating in a report issued on Tuesday.

Several other equities research analysts have also recently weighed in on the stock. BidaskClub raised shares of Career Education from a “sell” rating to a “hold” rating in a research report on Saturday, February 3rd. Sidoti began coverage on shares of Career Education in a report on Wednesday, April 18th. They issued a “buy” rating and a $21.00 price objective for the company. Finally, Zacks Investment Research upgraded shares of Career Education from a “hold” rating to a “buy” rating and set a $16.00 price objective for the company in a report on Wednesday, May 16th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. Career Education currently has an average rating of “Buy” and a consensus price target of $16.67.

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CECO traded down $0.04 during trading on Tuesday, hitting $14.40. 223,800 shares of the stock traded hands, compared to its average volume of 254,391. The stock has a market capitalization of $1.00 billion, a P/E ratio of 46.45 and a beta of 2.77. Career Education has a 12-month low of $8.10 and a 12-month high of $14.68.

Career Education (NASDAQ:CECO) last announced its quarterly earnings results on Wednesday, May 2nd. The company reported $0.25 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.24 by $0.01. The business had revenue of $147.50 million during the quarter, compared to analysts’ expectations of $146.10 million. Career Education had a negative net margin of 3.36% and a positive return on equity of 10.63%. The firm’s revenue for the quarter was down 9.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.07 EPS. analysts predict that Career Education will post 0.95 earnings per share for the current fiscal year.

In other Career Education news, SVP Jeffrey David Ayers sold 69,183 shares of the company’s stock in a transaction on Thursday, May 3rd. The shares were sold at an average price of $14.00, for a total value of $968,562.00. Following the completion of the transaction, the senior vice president now directly owns 213,714 shares in the company, valued at approximately $2,991,996. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 5.70% of the stock is currently owned by corporate insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of CECO. Jane Street Group LLC bought a new position in Career Education in the 4th quarter worth $125,000. Aperio Group LLC bought a new position in Career Education in the 4th quarter worth $145,000. Gotham Asset Management LLC bought a new position in Career Education in the 4th quarter worth $172,000. Paloma Partners Management Co bought a new position in Career Education in the 4th quarter worth $200,000. Finally, Teacher Retirement System of Texas bought a new position in Career Education in the 4th quarter worth $277,000. Institutional investors and hedge funds own 78.17% 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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

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