Barrington analyst Alexander Paris maintained a Buy rating on Grand Canyon Education (NASDAQ: LOPE) today and set a price target of $135. The company’s shares opened today at $121.65, close to its 52-week high of $123.86.
Paris noted:
“We believe this deal will be beneficial to long‐term shareholders as it de‐risks LOPE as an investment (as LOPE no longer owns a regulated postsecondary education institution) and positions the new LOPE to trade more in line with other education technology providers.”
According to TipRanks.com, Paris is a 4-star analyst with an average return of 5.5% and a 49.4% success rate. Paris covers the Services sector, focusing on stocks such as Adtalem Global Education Inc, American Public Education, and Franklin Covey Company.
Grand Canyon Education has an analyst consensus of Strong Buy, with a price target consensus of $133.50.
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Based on Grand Canyon Education’s latest earnings release for the quarter ending June 30, the company reported a quarterly net profit of $46.04 million. In comparison, last year the company had a net profit of $39.3 million.
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Grand Canyon Education, Inc. engages in the provision of education services. It offers graduate and undergraduate degree programs and certificates across colleges. The company was founded by Christopher C. Richardson and Brent D. Richardson in November 2003 and is headquartered in Phoenix, AZ.
