New Oriental Education & Technology Group, Inc. (NYSE:EDU) Receives $64.54 Average PT from Brokerages

Shares of New Oriental Education & Technology Group, Inc. (NYSE:EDUGet Free Report) have received a consensus rating of “Moderate Buy” from the eight analysts that are covering the stock, Marketbeat Ratings reports. Two analysts have rated the stock with a hold recommendation, five have issued a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $64.54.

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

Check Out Our Latest Analysis on EDU

Insider Transactions at New Oriental Education & Technology Group

In related news, Director Chenggang Zhou sold 56,948 shares of the company’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 in the company, valued at $24,436,786.34. The trade was a 11.69% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Yue Zhuge sold 1,600 shares of the stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $59.55, for a total transaction of $95,280.00. Following the sale, the director directly owned 2,000 shares in the company, valued at $119,100. This trade represents a 44.44% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 72,170 shares of company stock worth $4,100,348. 15.50% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On New Oriental Education & Technology Group

A number of institutional investors have recently made changes to their positions in the company. Caitong International Asset Management Co. Ltd raised its holdings in New Oriental Education & Technology Group by 7,314.3% in the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 519 shares of the company’s stock worth $28,000 after acquiring an additional 512 shares during the last quarter. EverSource Wealth Advisors LLC lifted its position in New Oriental Education & Technology Group by 106.9% in the 1st quarter. EverSource Wealth Advisors LLC now owns 540 shares of the company’s stock valued at $31,000 after acquiring an additional 279 shares in the last quarter. Atlas Capital Advisors Inc. purchased a new stake in New Oriental Education & Technology Group during the 4th quarter valued at $72,000. Raymond James Financial Inc. purchased a new stake in New Oriental Education & Technology Group during the 2nd quarter valued at $111,000. Finally, Leonteq Securities AG bought a new stake in shares of New Oriental Education & Technology Group in the 4th quarter worth $155,000.

New Oriental Education & Technology Group Stock Performance

EDU stock opened at $57.93 on Thursday. The firm has a 50 day moving average price of $51.28 and a 200-day moving average price of $52.81. New Oriental Education & Technology Group has a 52-week low of $44.25 and a 52-week high of $64.97. The firm has a market capitalization of $9.15 billion, a price-to-earnings ratio of 19.57, a PEG ratio of 0.61 and a beta of 0.24.

About New Oriental Education & Technology Group

(Get Free Report)

New Oriental Education & Technology Group (NYSE: EDU) is one of China’s leading providers of private educational services, specializing in language training, test preparation and consulting for overseas study. The company’s offerings span a range of subjects, including English language instruction, preparatory courses for examinations such as the TOEFL, GRE and GMAT, and K-12 after-school tutoring. New Oriental’s curriculum is delivered through a combination of in-person learning centers and digital platforms, enabling students across various regions to access its educational resources.

Founded in 1993 by Michael Yu Minhong in Beijing, New Oriental began as a small language school and quickly expanded its footprint.

Further Reading

Analyst Recommendations for New Oriental Education & Technology Group (NYSE:EDU)

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