BidaskClub Lowers Career Education (NASDAQ:CECO) to Strong Sell

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BidaskClub lowered shares of Career Education (NASDAQ:CECO) from a sell rating to a strong sell rating in a report issued on Friday, BidAskClub reports.

A number of other research analysts have also recently issued reports on CECO. TheStreet cut Career Education from a b rating to a c+ rating in a research report on Thursday, August 8th. Barrington Research reiterated an outperform rating and issued a $26.00 target price (up previously from $24.00) on shares of Career Education in a research report on Thursday, August 8th. Sidoti set a $24.00 target price on Career Education and gave the company a buy rating in a research report on Friday, June 7th. Finally, Zacks Investment Research cut Career Education from a buy rating to a hold rating in a research report on Tuesday, July 30th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the company. Career Education currently has an average rating of Hold and a consensus target price of $24.00.

CECO stock opened at $19.05 on Friday. Career Education has a 52 week low of $11.01 and a 52 week high of $22.50. 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 business has a 50-day simple moving average of $20.50 and a 200 day simple moving average of $18.79. The company has a market cap of $1.36 billion, a PE ratio of 18.14, a price-to-earnings-growth ratio of 1.06 and a beta of 1.53.

Career Education (NASDAQ:CECO) last released its earnings results on Wednesday, August 7th. The company reported $0.39 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.29 by $0.10. Career Education had a return on equity of 25.42% and a net margin of 8.78%. The firm had revenue of $156.44 million for the quarter, compared to analysts’ expectations of $148.10 million. During the same quarter in the previous year, the business posted $0.23 earnings per share. The business’s revenue for the quarter was up 10.1% on a year-over-year basis. On average, analysts anticipate that Career Education will post 1.22 EPS for the current fiscal year.

In other news, SVP David C. Czeszewski sold 14,659 shares of the business’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $21.98, for a total transaction of $322,204.82. Following the sale, the senior vice president now directly owns 118,031 shares in the company, valued at $2,594,321.38. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP John Robert Kline sold 5,000 shares of the business’s stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $22.22, for a total value of $111,100.00. Following the sale, the senior vice president now owns 66,473 shares in the company, valued at $1,477,030.06. The disclosure for this sale can be found here. In the last quarter, insiders sold 54,726 shares of company stock worth $1,182,387. Company insiders own 5.58% of the company’s stock.

Several large investors have recently added to or reduced their stakes in the company. Renaissance Technologies LLC grew its holdings in shares of Career Education by 6.8% during the second quarter. Renaissance Technologies LLC now owns 4,374,762 shares of the company’s stock worth $83,427,000 after purchasing an additional 279,486 shares during the last quarter. Vanguard Group Inc. boosted its holdings in Career Education by 0.6% in the second quarter. Vanguard Group Inc. now owns 4,296,000 shares of the company’s stock valued at $81,925,000 after acquiring an additional 27,493 shares during the last quarter. FMR LLC boosted its holdings in Career Education by 13.9% in the first quarter. FMR LLC now owns 3,134,862 shares of the company’s stock valued at $51,788,000 after acquiring an additional 382,842 shares during the last quarter. SG Capital Management LLC boosted its holdings in Career Education by 7.2% in the second quarter. SG Capital Management LLC now owns 1,552,509 shares of the company’s stock valued at $29,606,000 after acquiring an additional 104,649 shares during the last quarter. Finally, Nuveen Asset Management LLC bought a new stake in Career Education in the second quarter valued at approximately $25,452,000. Institutional investors own 84.72% of the company’s stock.

About Career Education

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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