Career Education (NASDAQ:CECO) Downgraded by ValuEngine to Buy

Career Education (NASDAQ:CECO) was downgraded by research analysts at ValuEngine from a “strong-buy” rating to a “buy” rating in a research note issued to investors on Tuesday, September 4th.

Several other analysts have also weighed in on the stock. BidaskClub lowered shares of Career Education from a “buy” rating to a “hold” rating in a research note on Tuesday, August 7th. Zacks Investment Research lowered shares of Career Education from a “hold” rating to a “sell” rating in a research note on Monday, August 6th. Finally, Piper Jaffray Companies restated a “hold” rating and set a $19.50 price target on shares of Career Education in a research report on Thursday, August 2nd. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and two have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $18.83.

CECO opened at $14.25 on Tuesday. The firm has a market capitalization of $980.31 million, a P/E ratio of 26.04, a P/E/G ratio of 1.62 and a beta of 2.54. Career Education has a 12-month low of $9.00 and a 12-month high of $19.07.

Career Education (NASDAQ:CECO) last posted its quarterly earnings results on Wednesday, August 1st. The company reported $0.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.20 by ($0.08). Career Education had a negative net margin of 2.61% and a positive return on equity of 12.05%. The company had revenue of $142.04 million during the quarter, compared to analyst estimates of $141.15 million. During the same period in the prior year, the company earned $0.07 earnings per share. The company’s revenue was down 2.9% on a year-over-year basis. equities analysts predict that Career Education will post 0.87 EPS for the current fiscal year.

In other Career Education news, insider Michele A. Peppers sold 5,001 shares of the company’s stock in a transaction dated Thursday, August 30th. The shares were sold at an average price of $15.97, for a total value of $79,865.97. Following the completion of the sale, the insider now directly owns 54,608 shares of the company’s stock, valued at approximately $872,089.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Richard D. Wang sold 250,000 shares of the company’s stock in a transaction dated Friday, September 7th. The shares were sold at an average price of $15.21, for a total transaction of $3,802,500.00. The disclosure for this sale can be found here. Insiders sold a total of 360,776 shares of company stock valued at $5,541,154 in the last quarter. 5.01% of the stock is currently owned by insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of CECO. BlackRock Inc. increased its holdings in Career Education by 9.5% in the second quarter. BlackRock Inc. now owns 9,361,124 shares of the company’s stock worth $151,368,000 after buying an additional 815,638 shares during the last quarter. Renaissance Technologies LLC boosted its position in shares of Career Education by 6.5% in the second quarter. Renaissance Technologies LLC now owns 4,497,662 shares of the company’s stock valued at $72,727,000 after acquiring an additional 273,900 shares during the period. FMR LLC bought a new stake in shares of Career Education in the second quarter valued at approximately $27,152,000. Connor Clark & Lunn Investment Management Ltd. boosted its position in shares of Career Education by 13.6% in the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,049,838 shares of the company’s stock valued at $16,976,000 after acquiring an additional 125,425 shares during the period. Finally, Kenmare Capital Partners L.L.C. boosted its position in shares of Career Education by 1.9% in the first quarter. Kenmare Capital Partners L.L.C. now owns 893,653 shares of the company’s stock valued at $11,743,000 after acquiring an additional 16,957 shares during the period. 81.56% of the stock is owned by institutional investors and hedge funds.

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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