ITT Educational Services (NYSE: ESI) had its target price boosted by Deutsche Bank from $31.00 to $34.00 in a research report released on Tuesday. They currently have a buy rating on the stock.
Shares of ITT Educational Services (NYSE: ESI) opened at 14.02 on Tuesday. ITT Educational Services has a one year low of $11.69 and a one year high of $70.92. The stock’s 50-day moving average is currently $14.96. The company has a market cap of $327.3 million and a P/E ratio of 2.40.
Other equities research analysts have also recently issued reports about the stock. Analysts at KeyBanc reiterated a buy rating on shares of ITT Educational Services in a research note to investors on Thursday, February 28th. They now have a $30.00 price target on the stock. Separately, analysts at Robert W. Baird raised their price target on shares of ITT Educational Services from $27.00 to $28.00 in a research note to investors on Wednesday, February 27th. They now have a neutral rating on the stock. Finally, analysts at Barclays Capital cut their price target on shares of ITT Educational Services from $15.00 to $14.00 in a research note to investors on Friday, January 25th. They now have an underweight rating on the stock.
Five equities research analysts have rated the stock with a sell rating, five have issued a hold rating and four have assigned a buy rating to the company’s stock. ITT Educational Services currently has a consensus rating of Hold and an average price target of $25.77.
We are witnessing some good old fashioned HFT (high frequency trading) price engineering. No worries, if you can't beat 'em, join 'em. As they walk the price down incrementally buy the lows and wait. Devry & Apollo both surged 20% upon release of earnings because the cynicism engendering the industry resulted in any quasi-non abhorrent news becoming a catalyst . I have to admire the intrepidation of shorts at 1.4 times earnings, seems that they are remarkably talented or self destructive? I am envious of their sovereign control over the price, it is equivalent to observing art or the awe inspiring achievements of a disciplined athlete. I say if your going to wake up in the morning to do something, you might as well be amazing at it. I have unintentionally arrived at the zenith of success as the consummate moppet this week.
I agree with your take on the shorts. It seems like there would be a better/easier target out there. I too have a ton of respect for them and their ability to manipulate. But I also know at some point the party will end and 9 mil shares (or close to it) will have to be covered. I am hopeful the opportunity scholarships with quickly stabilize the starts and maybe even drive some growth. If this happens this easily could be a 3 bagger IMHO.
Joshua you couldn't have said it any better. Low volume walk down by the shorts trying to get weak longs to sell into it so they can slowly cover in the past year+. YES the industry has headwinds, YES the technicals are attrocious. However, anything short of bankruptcy is a steal at this price. I like my chances and have a small position. I will add once this closes above the 50 and 200 day for a few weeks. Until then I will laugh at the market maker walking this down.