Adtalem Global Education (NYSE:ATGE) Reaches New 52-Week High Following Analyst Upgrade

Shares of Adtalem Global Education Inc. (NYSE:ATGE) hit a new 52-week high during trading on Monday after Barrington Research raised their price target on the stock from $65.00 to $70.00. Barrington Research currently has an outperform rating on the stock. Adtalem Global Education traded as high as $63.33 and last traded at $62.99, with a volume of 329447 shares traded. The stock had previously closed at $60.08.

Other equities research analysts have also recently issued reports about the company. Robert W. Baird upped their target price on Adtalem Global Education from $65.00 to $70.00 and gave the stock an “outperform” rating in a report on Friday, May 3rd. StockNews.com downgraded shares of Adtalem Global Education from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, February 7th.

Hedge Funds Weigh In On Adtalem Global Education

Several institutional investors and hedge funds have recently bought and sold shares of ATGE. Skandinaviska Enskilda Banken AB publ purchased a new stake in Adtalem Global Education during the 3rd quarter valued at about $56,000. Blue Trust Inc. increased its stake in shares of Adtalem Global Education by 41.4% in the fourth quarter. Blue Trust Inc. now owns 1,042 shares of the company’s stock worth $61,000 after acquiring an additional 305 shares during the period. Daiwa Securities Group Inc. raised its holdings in shares of Adtalem Global Education by 19.6% during the fourth quarter. Daiwa Securities Group Inc. now owns 1,280 shares of the company’s stock worth $75,000 after purchasing an additional 210 shares during the last quarter. Center for Financial Planning Inc. lifted its position in Adtalem Global Education by 50.3% during the fourth quarter. Center for Financial Planning Inc. now owns 1,910 shares of the company’s stock valued at $113,000 after purchasing an additional 639 shares during the period. Finally, First Trust Direct Indexing L.P. purchased a new stake in Adtalem Global Education in the third quarter valued at $201,000. 98.84% of the stock is owned by hedge funds and other institutional investors.

Adtalem Global Education Price Performance

The firm has a 50-day simple moving average of $49.93 and a two-hundred day simple moving average of $53.29. The company has a market capitalization of $2.37 billion, a price-to-earnings ratio of 23.70, a P/E/G ratio of 0.82 and a beta of 0.92. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 0.49.

Adtalem Global Education (NYSE:ATGE) last released its quarterly earnings data on Thursday, May 2nd. The company reported $1.50 earnings per share for the quarter, beating analysts’ consensus estimates of $1.16 by $0.34. Adtalem Global Education had a net margin of 7.12% and a return on equity of 14.06%. The company had revenue of $412.70 million during the quarter, compared to analysts’ expectations of $391.68 million. During the same quarter in the previous year, the company earned $1.13 earnings per share. The firm’s revenue for the quarter was up 11.8% on a year-over-year basis. As a group, analysts predict that Adtalem Global Education Inc. will post 4.9 earnings per share for the current fiscal year.

About Adtalem Global Education

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.