Adtalem Global Education (NYSE:ATGE – Get a rating) has been updated by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a report released on Tuesday, Zacks.com reports. The brokerage currently has a target price of $30.00 on the stock. Zacks Investment ResearchThe company’s price target indicates a potential upside of 2.81% from the company’s current price.
According to Zacks, “Adtalem shares have outperformed the industry over the past six months. While continued COVID-related headwinds have impacted Adtalem’s post-graduate nursing programs, its strategic focus, significant scale, and synergies from the recent acquisition of Walden have positioned the company well to help healthcare employers to meet their critical workforce needs. Walden’s on-campus and hybrid educational offerings, high-quality online training as well as a diverse healthcare workforce complement Adtalem’s strength as a leading provider of healthcare workforce solutions. However, apart from the pandemic-related woes, the higher cost of educational and student services as well as administrative expenses have impacted Adtalem.
Several other equity research analysts also weighed in on the company. StockNews.com supposed coverage from Adtalem Global Education in a Thursday, March 31 research note. They issued a “holding” rating on the stock. BMO Capital Markets lowered its price target on Adtalem Global Education from $37.00 to $32.00 in a Thursday, February 10 research note. Three research analysts rated the stock with a hold rating and one gave the company a buy rating. Based on MarketBeat data, Adtalem Global Education currently has an average rating of “Hold” and a consensus target price of $37.33.
ATGE traded down $0.47 on Tuesday, hitting $29.18. 609,467 shares of the stock were traded, compared to its average volume of 468,995. Adtalem Global Education has a 52-week low of $19.14 and a 52-week high of $40.45. The company has a current ratio of 1.23, a quick ratio of 1.23 and a debt ratio of 1.24. The company has a market capitalization of $1.45 billion, a PE ratio of -194.53, a P/E/G ratio of 0.64 and a beta of 1.21. The company has a fifty-day moving average price of $25.95 and a two-hundred-day moving average price of $30.12.
Adtalem Global Education (NYSE:ATGE – Get a rating) last released its quarterly results on Tuesday, February 8. The company reported earnings per share (EPS) of $0.75 for the quarter, missing the consensus estimate of $0.96 per ($0.21). Adtalem Global Education recorded a negative net margin of 0.51% and a positive return on equity of 10.93%. The company posted revenue of $371.20 million for the quarter, versus a consensus estimate of $419.27 million. In the same quarter a year earlier, the company had earned earnings per share of $0.77. The company’s revenue increased 58.4% year over year. On average, equity research analysts expect Adtalem Global Education to post 3 EPS for the current fiscal year.
Separately, Director Sharon O’keefe acquired 1,250 shares of Adtalem Global Education in a transaction on Wednesday, February 23. The shares were purchased at an average price of $20.63 per share, with a total value of $25,787.50. The transaction was disclosed in a document filed with the SEC, accessible via this link. Also, director Kenneth J. Phelan acquired 4,087 shares of Adtalem Global Education in a transaction on Thursday, February 10. The shares were purchased at an average cost of $24.47 per share, for a total transaction of $100,008.89. Disclosure of this purchase can be found here. Insiders have purchased a total of 50,357 shares of the company worth $1,189,521 over the past three months. 2.75% of the shares are held by insiders of the company.
Major investors have recently been buying and selling shares of the company. The Ontario Teachers’ Pension Plan Board acquired a new position in Adtalem Global Education during Q3 worth $218,000. Farley Capital LP increased its position in shares of Adtalem Global Education by 12.6% during the 3rd quarter. Farley Capital LP now owns 398,046 shares of the company valued at $15,050,000 after acquiring an additional 44,595 shares in the last quarter. Skandinaviska Enskilda Banken AB publ increased its position in shares of Adtalem Global Education by 214.5% during the 3rd quarter. Skandinaviska Enskilda Banken AB publ now owns 23,900 shares in the company valued at $904,000 after acquiring an additional 16,300 shares in the last quarter. The State Board of Administration of Florida Retirement System increased its position in Adtalem Global Education shares by 61.1% during the third quarter. The Florida Retirement System State Board of Directors now owns 37,851 shares of the company valued at $1,431,000 after acquiring 14,351 additional shares in the last quarter. Finally, Blueshift Asset Management LLC acquired a new equity stake in Adtalem Global Education during Q3 valued at $439,000. 98.28% of the shares are currently held by hedge funds and other institutional investors.
Adtalem Global Education Company Profile (Get a rating)
Adtalem Global Education Inc provides workforce solutions worldwide. It operates through two segments, Medical and Healthcare; and Financial Services. The Medical and Healthcare segment offers degree and non-degree programs in the medical and healthcare post-secondary education sector. This segment operates Chamberlain University, American University of the Caribbean School of Medicine, Ross University School of Medicine and Ross University School of Veterinary Medicine.
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