Zacks Investment Research lowered shares of Adtalem Global Education Inc (NASDAQ:ATGE) from a hold rating to a sell rating in a research note released on Tuesday, October 17th.
According to Zacks, “Shares of Adtalem Global have underperformed the industry so far this year. Adtalem Global has been witnessing a persistent decline in enrollments for several quarters now. DeVry University starts have been declining and are expected to remain a challenge over the near term, as prospective students are still reluctant to incur debt for higher degree. The competitive landscape also remains intense. Notably, Adtalem Global’s revenue is expected to be down 1 to 2% in fiscal 2017, compared to the prior year. The company is undertaking several student-focused initiatives at DeVry University to return to growth and transform this business. However, these efforts are not paying off yet.”
Separately, BMO Capital Markets reaffirmed a market perform rating and issued a $35.00 price target (down from $40.00) on shares of Adtalem Global Education in a research note on Monday, August 21st.
Shares of Adtalem Global Education (ATGE) traded up $0.90 during trading on Tuesday, reaching $36.55. 349,709 shares of the company’s stock were exchanged, compared to its average volume of 410,198. Adtalem Global Education has a 1 year low of $22.70 and a 1 year high of $40.70.
Adtalem Global Education (NASDAQ:ATGE) last issued its quarterly earnings results on Thursday, November 2nd. The company reported $0.30 EPS for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.16). Adtalem Global Education had a return on equity of 10.35% and a net margin of 9.76%. The business had revenue of $421.03 million for the quarter, compared to analyst estimates of $428.00 million. During the same quarter last year, the firm posted $0.45 EPS. Adtalem Global Education’s revenue for the quarter was down 6.4% on a year-over-year basis.
In other Adtalem Global Education news, insider Eric P. Dirst sold 3,114 shares of the business’s stock in a transaction dated Thursday, August 31st. The shares were sold at an average price of $34.06, for a total value of $106,062.84. Following the transaction, the insider now directly owns 14,800 shares in the company, valued at $504,088. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider John P. Roselli sold 2,327 shares of the business’s stock in a transaction that occurred on Friday, September 1st. The shares were sold at an average price of $33.99, for a total transaction of $79,094.73. Following the completion of the sale, the insider now directly owns 13,730 shares in the company, valued at approximately $466,682.70. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 11,328 shares of company stock worth $384,138.
Several large investors have recently modified their holdings of ATGE. Russell Investments Group Ltd. bought a new position in shares of Adtalem Global Education in the 2nd quarter worth $2,398,000. Parametrica Management Ltd purchased a new stake in shares of Adtalem Global Education in the 2nd quarter valued at $232,000. ING Groep NV purchased a new stake in shares of Adtalem Global Education in the 2nd quarter valued at $263,000. Meritage Portfolio Management purchased a new stake in shares of Adtalem Global Education in the 2nd quarter valued at $5,588,000. Finally, Strs Ohio purchased a new stake in shares of Adtalem Global Education in the 2nd quarter valued at $1,252,000.
Adtalem Global Education Company Profile
Adtalem Global Education Inc, formerly DeVry Education Group Inc (DeVry Group) is a global provider of educational services. DeVry Group’s focuses on empowering its students to achieve their educational and career goals. DeVry Group’s institutions offer a range of programs in healthcare, technology, business, accounting, finance and law.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Adtalem Global Education Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Adtalem Global Education Inc and related companies with our FREE daily email newsletter.