Adtalem Global Education Inc. (ATGE Quick QuoteATGE - Free Report) shares ended the last trading session 8% higher at $39.61. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 0.8% loss over the past four weeks.

Shares of Adtalem witnessed a solid price appreciation following the announcement that it will move into the SmallCap 600 and will replace Boston Private Financial Holdings Inc., effective Jul 7, 2021.

This for-profit education company is expected to post quarterly earnings of $0.72 per share in its upcoming report, which represents a year-over-year change of +24.1%. Revenues are expected to be $285.09 million, up 9.8% from the year-ago quarter.

While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.

For Adtalem, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on ATGE going forward to see if this recent jump can turn into more strength down the road.

The stock currently carries a Zacks Rank 3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>