New Oriental Education & Technology Group, Inc. (NYSE:EDU) Stock Has Average Price Target of $63.17

New Oriental Education & Technology Group, Inc. (NYSE:EDU) has been given a consensus recommendation of “Moderate Buy” by the six ratings firms that are presently covering the company, Marketbeat Ratings reports. Two research analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $63.17.

EDU has been the topic of a number of research reports. New Street Research set a $56.50 price target on shares of New Oriental Education & Technology Group in a research note on Thursday, July 30th. Wall Street Zen downgraded shares of New Oriental Education & Technology Group from a “buy” rating to a “hold” rating in a research report on Saturday, August 1st. Finally, Weiss Ratings restated a “hold (c)” rating on shares of New Oriental Education & Technology Group in a research report on Tuesday, July 21st.

New Oriental Education & Technology Group Price Performance

Shares of EDU opened at $58.63 on Friday. The firm has a market capitalization of $9.09 billion, a PE ratio of 19.81, a PEG ratio of 0.62 and a beta of 0.19. The company’s 50-day moving average is $56.41 and its 200-day moving average is $52.84. New Oriental Education & Technology Group has a fifty-two week low of $44.25 and a fifty-two week high of $64.97.

Insider Buying and Selling

In related news, Director Chenggang Zhou sold 56,948 shares of New Oriental Education & Technology Group stock in a transaction that occurred on Monday, August 10th. The stock was sold at an average price of $56.83, for a total transaction of $3,236,354.84. Following the completion of the sale, the director directly owned 429,998 shares of the company’s stock, valued at approximately $24,436,786.34. This trade represents a 11.69% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Yue Zhuge sold 1,600 shares of the company’s stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $59.55, for a total value of $95,280.00. Following the completion of the transaction, the director directly owned 2,000 shares in the company, valued at approximately $119,100. This represents a 44.44% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 72,170 shares of company stock worth $4,100,348. 15.50% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On New Oriental Education & Technology Group

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

About New Oriental Education & Technology Group

New Oriental Education & Technology Group is a China-based education services provider founded in 1993 by Michael Yu. The company offers educational programs and services for students, families and adult learners, with operations focused primarily on China.

Its business activities have included test preparation for international examinations, overseas study consulting, language training, online education and educational materials. New Oriental has also provided tutoring and other education services for students in primary and secondary school, as well as programs designed to support domestic academic development and professional skills.

The company serves customers through learning centers, schools and digital platforms across multiple regions of China.