Grand Canyon Education (NASDAQ:LOPE) Stock Price Target Cut by Truist Financial

Grand Canyon Education (NASDAQ:LOPE) had its target price reduced by stock analysts at Truist Financial from $200.00 to $180.00 in a research note issued to investors on Thursday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. Truist Financial‘s target price would suggest a potential upside of 52.94% from the stock’s current price.

Several other brokerages also recently weighed in on LOPE. Wall Street Zen downgraded shares of Grand Canyon Education from a “buy” rating to a “hold” rating in a research report on Sunday, August 9th. Barrington Research set a $200.00 price objective on Grand Canyon Education in a research report on Friday, July 31st. BMO Capital Markets cut their target price on Grand Canyon Education from $185.00 to $182.00 and set an “outperform” rating on the stock in a research note on Monday, October 5th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Grand Canyon Education in a report on Tuesday, September 22nd. Three equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $187.33.

Grand Canyon Education Stock Performance

Shares of LOPE traded down $4.56 during trading hours on Thursday, hitting $117.69. The company had a trading volume of 712,156 shares, compared to its average volume of 255,273. The firm has a fifty day moving average price of $152.74 and a 200-day moving average price of $156.60. The stock has a market capitalization of $3.07 billion, a price-to-earnings ratio of 12.57, a P/E/G ratio of 0.98 and a beta of 0.66. Grand Canyon Education has a 52-week low of $115.00 and a 52-week high of $182.15.

Grand Canyon Education (NASDAQ:LOPE) last announced its quarterly earnings data on Wednesday, November 4th. The company reported $1.77 EPS for the quarter, beating the consensus estimate of $1.76 by $0.01. The company had revenue of $267.35 million for the quarter, compared to the consensus estimate of $270.11 million. Grand Canyon Education had a net margin of 19.63% and a return on equity of 36.62%. Grand Canyon Education’s revenue for the quarter was up 2.4% on a year-over-year basis. During the same period in the prior year, the firm posted $1.78 EPS. Research analysts anticipate that Grand Canyon Education will post 10.09 earnings per share for the current fiscal year.

Institutional Trading of Grand Canyon Education

A number of institutional investors have recently made changes to their positions in LOPE. Eurizon Capital SGR S.p.A. bought a new stake in shares of Grand Canyon Education in the third quarter worth approximately $28,000. Leonteq Securities AG boosted its holdings in Grand Canyon Education by 48.9% in the first quarter. Leonteq Securities AG now owns 195 shares of the company’s stock worth $33,000 after purchasing an additional 64 shares during the last quarter. Allworth Financial LP boosted its holdings in Grand Canyon Education by 589.6% in the third quarter. Allworth Financial LP now owns 331 shares of the company’s stock worth $47,000 after purchasing an additional 283 shares during the last quarter. Fulcrum Asset Management LLP bought a new stake in Grand Canyon Education in the 3rd quarter worth approximately $55,000. Finally, Legacies Wealth LLC bought a new stake in Grand Canyon Education in the 3rd quarter worth approximately $73,000. Hedge funds and other institutional investors own 94.17% of the company’s stock.

Grand Canyon Education Company Profile

Grand Canyon Education, Inc (NASDAQ: LOPE) is an education services company that provides technology, operational and support services to colleges and universities. Rather than operating primarily as a traditional university, the company partners with higher education institutions to help them deliver online, hybrid and campus-based academic programs.

Its services include learning technology, digital course development, data analytics, marketing, student enrollment and support, financial aid assistance, faculty support, and other administrative functions.