Barrington Sticks to Its Buy Rating for Career Education Corp (CECO)


Barrington analyst Alexander Paris maintained a Buy rating on Career Education Corp (CECO) today and set a price target of $22. The company’s shares opened today at $17.78, close to its 52-week high of $19.07.

Paris noted:

“We’ve raised our estimates for new and total student enrollment to account for the better‐than‐expected new and total student enrollment in the first quarter. We’ve also raised our FY/19 estimate for adjusted operating income to from $113.7 million to $116.0 million. With the prior restructuring essentially complete, a realistic outlook for new and total student enrollment growth, and a strong balance sheet with $229.2 million in cash and cash equivalents, restricted cash and short‐term investments, we are reiterating our OUTPERFORM investment rating and raising our price target to $22 (from $18), which assumes a 10x multiple on our 2020 EBITDA estimate, representing more than 20% potential upside.”

According to TipRanks.com, Paris is a 5-star analyst with an average return of 10.7% and a 55.9% success rate. Paris covers the Services sector, focusing on stocks such as Adtalem Global Education Inc, American Public Education, and Strategic Education Inc.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Career Education Corp with a $22 average price target.

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Career Education Corp’s market cap is currently $1.24B and has a P/E ratio of 23.00. The company has a Price to Book ratio of 3.49.

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Career Education Corp. engages in the provision of educational services. It operates through Colorado Technical University (CTU), and American InterContinental University (AIU) segments.

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