New Oriental Education & Technology Group (NYSE:EDU) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of New Oriental Education & Technology Group (NYSE:EDU) from a hold rating to a buy rating in a report released on Saturday morning,Wall Street Zen reports.

A number of other research firms have also commented on EDU. New Street Research set a $56.50 price target on shares of New Oriental Education & Technology Group in a research report on Thursday, July 30th. Weiss Ratings lowered New Oriental Education & Technology Group from a “hold (c+)” rating to a “hold (c)” rating in a research note on Wednesday, October 28th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $60.75.

New Oriental Education & Technology Group Stock Performance

Shares of NYSE:EDU opened at $49.31 on Friday. The company’s fifty day moving average is $56.71 and its 200-day moving average is $54.20. New Oriental Education & Technology Group has a 52 week low of $44.25 and a 52 week high of $64.97. The company has a market capitalization of $7.65 billion, a PE ratio of 15.41, a P/E/G ratio of 0.54 and a beta of 0.19.

Insider Transactions at New Oriental Education & Technology Group

In other news, Director Chenggang Zhou sold 56,948 shares of the firm’s stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $56.83, for a total value of $3,236,354.84. Following the transaction, the director 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 15.50% of the company’s stock.

Hedge Funds Weigh In On New Oriental Education & Technology Group

Hedge funds and other institutional investors have recently bought and sold shares of the business. AIA Group Ltd increased its holdings in New Oriental Education & Technology Group by 185.2% in the first quarter. AIA Group Ltd now owns 93,342 shares of the company’s stock valued at $5,286,000 after purchasing an additional 60,611 shares during the last quarter. Lazard Asset Management LLC bought a new stake in shares of New Oriental Education & Technology Group in the 1st quarter valued at about $18,528,000. Ninety One UK Ltd acquired a new stake in shares of New Oriental Education & Technology Group in the 3rd quarter valued at approximately $92,628,000. Aubrey Capital Management Ltd acquired a new stake in shares of New Oriental Education & Technology Group in the 1st quarter valued at approximately $9,888,000. Finally, Ninety One North America Inc. acquired a new stake in shares of New Oriental Education & Technology Group in the 3rd quarter valued at approximately $21,740,000.

New Oriental Education & Technology Group Company Profile

New Oriental Education & Technology Group Inc (NYSE: EDU) is a China-based education services provider founded in 1993 by Michael Minhong Yu. The company operates schools, learning centers and online platforms that serve students, families and adult learners across China.

Its offerings have historically included test preparation for examinations such as the TOEFL, IELTS and other standardized tests; overseas study consulting; language training; educational services for primary and secondary students; adult and vocational education; and educational technology.