Phoenix Education Partners (NYSE:PXED) Stock Gets Price Target Trim from Truist Financial

Phoenix Education Partners (NYSE:PXED) had its price target cut by Truist Financial from $38.00 to $23.00 in a report published on Wednesday morning,Benzinga reports. They currently have a hold rating on the stock.

Other equities analysts have also issued reports about the company. BMO Capital Markets cut their price target on Phoenix Education Partners from $36.00 to $33.00 and set an “outperform” rating for the company in a report on Monday, October 5th. Jefferies Financial Group upgraded Phoenix Education Partners to a “strong-buy” rating in a research note on Wednesday, September 23rd. Zacks Research raised Phoenix Education Partners from a “strong sell” rating to a “hold” rating in a report on Thursday, October 1st. Wall Street Zen downgraded Phoenix Education Partners from a “buy” rating to a “hold” rating in a research note on Saturday, August 1st. Finally, Morgan Stanley downgraded Phoenix Education Partners from an “overweight” rating to an “equal weight” rating and set a $28.00 target price for the company. in a research note on Wednesday. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, five have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $31.67.

Phoenix Education Partners Stock Performance

Shares of PXED stock traded down $1.85 during trading on Wednesday, reaching $19.66. 226,743 shares of the company’s stock traded hands, compared to its average volume of 97,603. The company has a market capitalization of $708.60 million and a P/E ratio of 8.58. The company has a current ratio of 1.91, a quick ratio of 1.92 and a debt-to-equity ratio of 0.17. The firm’s 50-day moving average is $25.53 and its 200 day moving average is $28.70. Phoenix Education Partners has a 1 year low of $19.55 and a 1 year high of $35.90.

Phoenix Education Partners (NYSE:PXED) last released its quarterly earnings data on Tuesday, November 3rd. The company reported $1.07 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.07. Phoenix Education Partners had a net margin of 8.18% and a return on equity of 60.06%. The business had revenue of $260.68 million during the quarter. Equities research analysts expect that Phoenix Education Partners will post 3.94 EPS for the current year.

Phoenix Education Partners Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 27th. Shareholders of record on Friday, November 13th will be paid a $0.23 dividend. The ex-dividend date is Friday, November 13th. This represents a $0.92 annualized dividend and a yield of 4.7%. This is a boost from Phoenix Education Partners’s previous quarterly dividend of $0.21. Phoenix Education Partners’s dividend payout ratio is currently 36.68%.

Insider Buying and Selling

In other Phoenix Education Partners news, insider John Woods sold 19,453 shares of the firm’s stock in a transaction on Friday, October 9th. The shares were sold at an average price of $25.89, for a total value of $503,638.17. Following the completion of the transaction, the insider directly owned 62,682 shares of the company’s stock, valued at $1,622,836.98. This trade represents a 23.68% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last ninety days, insiders have sold 20,703 shares of company stock valued at $534,904. 5.00% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Wellington Management Group LLP raised its position in shares of Phoenix Education Partners by 48.3% in the second quarter. Wellington Management Group LLP now owns 743,112 shares of the company’s stock worth $24,411,000 after buying an additional 241,997 shares in the last quarter. BlackRock Inc. purchased a new position in Phoenix Education Partners during the second quarter worth about $12,620,000. Heartland Advisors Inc. bought a new position in Phoenix Education Partners in the 2nd quarter worth about $2,398,000. Bastion Asset Management Inc. bought a new position in Phoenix Education Partners in the 1st quarter worth about $2,085,000. Finally, Curated Wealth Partners LLC purchased a new stake in shares of Phoenix Education Partners in the 3rd quarter valued at about $1,653,000.

Phoenix Education Partners Company Profile

Phoenix Education Partners, Inc is a higher education company focused on serving working adults and other nontraditional students. Through the University of Phoenix, its principal operating institution, the company provides career-oriented undergraduate and graduate degree programs, professional certificates, and other educational offerings.

The University of Phoenix primarily delivers instruction through online learning, with programs designed to offer flexible scheduling for students balancing education with employment and other responsibilities.