In a report released today, Alexander Paris from Barrington reiterated a Buy rating on Adtalem Global Education Inc (NYSE: ATGE), with a price target of $60. The company’s shares opened today at $54.80, close to its 52-week high of $56.
Paris wrote:
“We believe the agreement to divest DVU (expected to be completed soon) and, now, Carrington College (expected to close by calendar year end) enhances the value of Adtalem and its remaining institutions, allowing management to focus on driving growth across its three key verticals of Medical and Healthcare, Technology and Business, and Professional Education, and eliminating the distraction of the turnaround institutions. Once these transactions are complete, we would expect ATGE’s valuation (16.6x CAL 2019 EPS) to rise towards the industry leaders, such as Strategic Education (22.7x). As such, we are reiterating our OUTPERFORM investment rating and our 12‐month price target of $60 (18x CAL 2019 EPS).”
According to TipRanks.com, Paris is a 4-star analyst with an average return of 14.2% and a 56.9% success rate. Paris covers the Services sector, focusing on stocks such as American Public Education, Grand Canyon Education, and Franklin Covey Company.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Adtalem Global Education Inc with a $56.40 average price target.
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The company has a one-year high of $56 and a one-year low of $30.15. Currently, Adtalem Global Education Inc has an average volume of 347.5K.
Based on the recent corporate insider activity of 80 insiders, corporate insider sentiment is negative on the stock. Most recently, in May 2018, Ronald L. Taylor, an Insider at ATGE sold 18,880 shares for a total of $882,829.
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Adtalem Global Education, Inc. engages in the provision of educational services. Its institutions offer a wide array of programs in business, healthcare and technology and serve students in secondary postsecondary education as well as accounting and finance professionals.
