On first look, a stock trading at a current PE of 5.2 might seem as a great value buy. Far from being a buy or hold, ITT Educational Services (ESI) is a sell at current levels of $24.3. This investment note discusses the negative developments for ITT, which will result in downside for the stock.
ITT is a provider of postsecondary degree programs in the United States. As of December 31, 2012, ITT was offering master, bachelor and associate degree programs to approximately 61,000 students. For the same period, the company operated in 149 locations (including 147 campuses and two learning sites) in 39 states. In addition, ITT also offers online programs to students who are located in...
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