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Downgrade Alert for ITT Educational Services (ESI)

By David Diaz

ITT Educational Services (NYSE:ESI) was downgraded from Outperform to Market Perform at William Blair today. The stock closed yesterday at $7.72 on volume of 10.2 million shares, above average daily volume of 529,000.

Potential upside of 185.0% exists for ITT Educational Services, based on a current level of $7.72 and analysts' average consensus price target of $22.00. ITT Educational Services shares should first meet resistance at the 50-day moving average (MA) of $16.68 and find additional resistance at the 200-day MA of $28.87.

ITT Educational Services share prices have moved between a 52-week high of $45.80 and a 52-week low of $7.46 and closed yesterday at 3% above that low price at $7.72 per share. The 200-day and 50-day moving averages have moved 1.37% lower and 6.29% lower over the past week, respectively.

ITT Educational Services, Inc. provides technology-oriented postsecondary degree programs in the United States. The Company's institutes offer associate, bachelor, and master degree programs, as well as non-degree diploma programs.

SmarTrend recommended that its subscribers protect gains by selling shares of ITT Educational Services on March 10th, 2014 by issuing a Downtrend alert when the shares were trading at $29.67. Since that call, shares of ITT Educational Services have fallen 74.0%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: analyst upgrades/downgrades ITT Educational Services

Ticker(s): ESI