Adtalem Global Education (NYSE:ATGE) Price Target Raised to $132.00

Adtalem Global Education (NYSE:ATGE) had its target price hoisted by BMO Capital Markets from $115.00 to $132.00 in a research report report published on Monday,Benzinga reports. BMO Capital Markets currently has an outperform rating on the stock.

A number of other research analysts have also recently weighed in on the stock. StockNews.com cut shares of Adtalem Global Education from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, March 18th. Jefferies Financial Group began coverage on shares of Adtalem Global Education in a research report on Wednesday, April 23rd. They issued a “buy” rating and a $135.00 price objective on the stock. Finally, Barrington Research boosted their target price on Adtalem Global Education from $120.00 to $140.00 and gave the company an “outperform” rating in a research report on Friday, May 9th.

Adtalem Global Education Price Performance

ATGE stock opened at $129.79 on Monday. The company has a fifty day simple moving average of $105.33 and a two-hundred day simple moving average of $97.98. Adtalem Global Education has a 52 week low of $62.28 and a 52 week high of $140.12. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.45. The firm has a market capitalization of $4.84 billion, a P/E ratio of 24.17, a price-to-earnings-growth ratio of 1.05 and a beta of 0.86.

Adtalem Global Education (NYSE:ATGE) last released its quarterly earnings results on Thursday, May 8th. The company reported $1.92 EPS for the quarter, topping the consensus estimate of $1.63 by $0.29. Adtalem Global Education had a return on equity of 16.82% and a net margin of 12.34%. The company had revenue of $466.06 million during the quarter, compared to analyst estimates of $447.19 million. During the same quarter last year, the business posted $1.50 earnings per share. The firm’s revenue was up 12.9% on a year-over-year basis. Analysts anticipate that Adtalem Global Education will post 6.2 earnings per share for the current fiscal year.

Adtalem Global Education declared that its Board of Directors has initiated a stock repurchase program on Tuesday, May 6th that permits the company to repurchase $150.00 million in outstanding shares. This repurchase authorization permits the company to buy up to 3.6% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s leadership believes its shares are undervalued.

Insiders Place Their Bets

In other news, Director Donna J. Hrinak sold 4,812 shares of the firm’s stock in a transaction on Friday, February 14th. The stock was sold at an average price of $103.26, for a total transaction of $496,887.12. Following the transaction, the director now owns 8,032 shares in the company, valued at approximately $829,384.32. This trade represents a 37.46% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. 2.00% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Barclays PLC lifted its position in shares of Adtalem Global Education by 12.1% in the 3rd quarter. Barclays PLC now owns 66,669 shares of the company’s stock worth $5,031,000 after purchasing an additional 7,172 shares during the period. Tidal Investments LLC purchased a new stake in shares of Adtalem Global Education during the third quarter valued at about $201,000. Franklin Resources Inc. lifted its position in Adtalem Global Education by 11.7% during the third quarter. Franklin Resources Inc. now owns 12,138 shares of the company’s stock valued at $910,000 after acquiring an additional 1,267 shares during the last quarter. USA Financial Formulas purchased a new position in Adtalem Global Education in the fourth quarter worth $26,000. Finally, Ritholtz Wealth Management increased its position in shares of Adtalem Global Education by 1.6% during the fourth quarter. Ritholtz Wealth Management now owns 21,247 shares of the company’s stock worth $1,930,000 after purchasing an additional 329 shares in the last quarter. 98.84% of the stock is currently owned by institutional investors.

Adtalem Global Education Company Profile

Adtalem Global Education Inc provides workforce solutions worldwide. It operates through three segments, Chamberlain, Walden, and Medical and Veterinary. The Chamberlain segment offers degree and non-degree programs in the nursing and health professions postsecondary education industry. This segment operates Chamberlain University.