Adtalem Global Education (NYSE:ATGE) Given a $150.00 Price Target at Barrington Research

Key Points

• Barrington Research has raised the price target for Adtalem Global Education (NYSE:ATGE) from $140.00 to $150.00, indicating a potential upside of 22.10% from its previous close.
• The company reported earnings per share of $1.66 for the last quarter, surpassing estimates and showing an 11.5% increase in revenue year-over-year.
• Adtalem Global Education has initiated a $150 million share buyback plan, allowing the company to repurchase up to 3.6% of its shares, suggesting the board's belief in the stock's undervaluation.

Adtalem Global Education (NYSE:ATGE - Get Free Report) has been assigned a $150.00 price target by analysts at Barrington Research in a report issued on Friday, MarketBeat reports. The brokerage currently has an "outperform" rating on the stock. Barrington Research's target price would suggest a potential upside of 18.37% from the stock's previous close.

Other equities research analysts have also issued research reports about the company. Jefferies Financial Group assumed coverage on Adtalem Global Education in a report on Wednesday, April 23rd. They issued a "buy" rating and a $135.00 price objective on the stock. BMO Capital Markets lifted their price target on Adtalem Global Education from $115.00 to $132.00 and gave the company an "outperform" rating in a research note on Monday, May 12th.

Adtalem Global Education Stock Performance

Shares of ATGE stock traded up $6.50 during midday trading on Friday, hitting $126.72. The company had a trading volume of 432,868 shares, compared to its average volume of 476,389. The company's 50 day simple moving average is $120.56 and its 200 day simple moving average is $112.40. Adtalem Global Education has a 52-week low of $68.60 and a 52-week high of $140.12. The company has a debt-to-equity ratio of 0.39, a current ratio of 0.82 and a quick ratio of 0.82. The stock has a market cap of $4.56 billion, a price-to-earnings ratio of 20.47, a PEG ratio of 1.07 and a beta of 0.88.

Adtalem Global Education (NYSE:ATGE - Get Free Report) last released its earnings results on Thursday, August 7th. The company reported $1.66 EPS for the quarter, topping the consensus estimate of $1.51 by $0.15. Adtalem Global Education had a net margin of 13.26% and a return on equity of 17.95%. The company had revenue of $457.11 million during the quarter, compared to analysts' expectations of $440.93 million. During the same quarter last year, the business earned $1.37 EPS. The business's revenue was up 11.5% on a year-over-year basis. Research 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 share buyback plan on Tuesday, May 6th that authorizes the company to repurchase $150.00 million in shares. This repurchase authorization authorizes the company to repurchase up to 3.6% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company's management believes its stock is undervalued.

Insider Transactions at Adtalem Global Education

In other news, Director William W. Burke sold 2,291 shares of the business's stock in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $128.35, for a total transaction of $294,049.85. Following the sale, the director owned 9,368 shares of the company's stock, valued at $1,202,382.80. The trade was a 19.65% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 2.00% of the company's stock.

Institutional Trading of Adtalem Global Education

Several large investors have recently bought and sold shares of ATGE. American Century Companies Inc. raised its stake in shares of Adtalem Global Education by 111.2% during the 2nd quarter. American Century Companies Inc. now owns 148,776 shares of the company's stock worth $18,929,000 after buying an additional 78,319 shares during the last quarter. Journey Strategic Wealth LLC acquired a new position in Adtalem Global Education during the second quarter worth about $206,000. Franklin Resources Inc. lifted its holdings in shares of Adtalem Global Education by 1,755.8% in the second quarter. Franklin Resources Inc. now owns 237,003 shares of the company's stock valued at $30,154,000 after purchasing an additional 224,232 shares in the last quarter. Handelsbanken Fonder AB lifted its holdings in shares of Adtalem Global Education by 3.7% in the second quarter. Handelsbanken Fonder AB now owns 8,495 shares of the company's stock valued at $1,081,000 after purchasing an additional 300 shares in the last quarter. Finally, EMC Capital Management acquired a new stake in shares of Adtalem Global Education in the second quarter valued at approximately $235,000. Institutional investors and hedge funds own 98.84% of the company's stock.

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.