New Oriental Education & Technology Group, Inc. (NYSE:EDU) Receives $61.92 Average Target Price from Brokerages

by · The Markets Daily

Shares of New Oriental Education & Technology Group, Inc. (NYSE:EDU – Get Free Report) have been given an average rating of “Moderate Buy” by the seven research firms that are presently covering the firm, Marketbeat.com reports. Two equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $61.9250.

EDU has been the subject of several analyst reports. The Goldman Sachs Group upgraded shares of New Oriental Education & Technology Group from a “neutral” rating to a “buy” rating and lowered their price target for the stock from $67.00 to $65.00 in a research report on Thursday, June 11th. New Street Research set a $56.50 price objective on shares of New Oriental Education & Technology Group in a report on Thursday, July 30th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of New Oriental Education & Technology Group in a research note on Tuesday, July 21st. Finally, Wall Street Zen lowered shares of New Oriental Education & Technology Group from a “buy” rating to a “hold” rating in a report on Saturday, August 1st.

Read Our Latest Report on EDU

New Oriental Education & Technology Group Stock Down 1.0%

Shares of EDU opened at $55.72 on Monday. The stock’s fifty day simple moving average is $54.59 and its 200-day simple moving average is $52.57. The firm has a market capitalization of $8.81 billion, a PE ratio of 18.82, a price-to-earnings-growth ratio of 0.60 and a beta of 0.23. New Oriental Education & Technology Group has a 12-month low of $44.25 and a 12-month high of $64.97.

Insiders Place Their Bets

In other news, Director Yue Zhuge sold 1,600 shares of the firm’s stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $59.55, for a total value of $95,280.00. Following the transaction, the director directly owned 2,000 shares in the company, valued at $119,100. This trade represents a 44.44% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Chenggang Zhou sold 56,948 shares of the firm’s stock in a transaction on Monday, August 10th. The stock was sold at an average price of $56.83, for a total value of $3,236,354.84. Following the completion of the transaction, the director owned 429,998 shares in the company, valued at $24,436,786.34. This represents a 11.69% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 72,170 shares of company stock worth $4,100,348. 15.50% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On New Oriental Education & Technology Group

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. WINTON GROUP Ltd acquired a new position in shares of New Oriental Education & Technology Group during the 2nd quarter worth about $376,000. Carmignac Gestion raised its position in shares of New Oriental Education & Technology Group by 0.8% in the 2nd quarter. Carmignac Gestion now owns 368,392 shares of the company’s stock valued at $16,921,000 after acquiring an additional 3,006 shares during the period. B. Metzler seel. Sohn & Co. AG raised its position in shares of New Oriental Education & Technology Group by 10.9% in the 2nd quarter. B. Metzler seel. Sohn & Co. AG now owns 15,869 shares of the company’s stock valued at $729,000 after acquiring an additional 1,555 shares during the period. Public Employees Retirement System of Ohio bought a new position in New Oriental Education & Technology Group during the 2nd quarter worth approximately $585,000. Finally, Amundi boosted its stake in New Oriental Education & Technology Group by 14.4% during the 1st quarter. Amundi now owns 507,774 shares of the company’s stock worth $28,755,000 after acquiring an additional 63,845 shares during the last quarter.

New Oriental Education & Technology Group Company Profile

(Get Free Report)

New Oriental Education & Technology Group Inc is a China-based education services provider that offers learning programs through online platforms and physical schools and learning centers. The company serves students, families and adult learners with services covering language training, test preparation, educational consulting and other academic programs.

Its offerings have historically included preparation for overseas admissions and examinations such as TOEFL, IELTS, SAT, GRE and GMAT, as well as overseas study consulting, domestic examination preparation, primary and secondary education services, and educational materials and software.

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