Barrington Research Downgrades Bridgepoint Education (BPI) to Market Perform; Accreditation Denied!
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Price: $12.72 +1.44%
Rating Summary:
1 Buy, 7 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 21 | Down: 24 | New: 29
Rating Summary:
1 Buy, 7 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 21 | Down: 24 | New: 29
Trade BPI Now!
Barrington Research downgraded Bridgepoint Education (NYSE: BPI) from Outperform to Market Perform.
Barrington analyst said, "BPI released an 8K stating Ashford has been denied WASC
accreditation. This is clearly a disappointment for investors and given the short-term uncertainty, we are reducing our rating."
Barrington expects BPI to eventually receive WASC accreditation, after appeal and re-applying etc., but sees shares range-bound for the next 6-12 months. Estimates for FY12 are maintained at $2.55 and $1.02B vs. consensus of $2.54 and $1.03B.
For an analyst ratings summary and ratings history on Bridgepoint Education click here. For more ratings news on Bridgepoint Education click here.
Shares of Bridgepoint Education closed at $21.50 yesterday, with a 52 week range of $16.01-$30.62.
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Barrington analyst said, "BPI released an 8K stating Ashford has been denied WASC
accreditation. This is clearly a disappointment for investors and given the short-term uncertainty, we are reducing our rating."
Barrington expects BPI to eventually receive WASC accreditation, after appeal and re-applying etc., but sees shares range-bound for the next 6-12 months. Estimates for FY12 are maintained at $2.55 and $1.02B vs. consensus of $2.54 and $1.03B.
For an analyst ratings summary and ratings history on Bridgepoint Education click here. For more ratings news on Bridgepoint Education click here.
Shares of Bridgepoint Education closed at $21.50 yesterday, with a 52 week range of $16.01-$30.62.
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