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

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

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

Insiders Place Their Bets

In related news, Director Yue Zhuge sold 1,600 shares of the company’s stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $59.55, for a total transaction of $95,280.00. Following the completion of the sale, the director owned 2,000 shares in the company, valued at approximately $119,100. This represents a 44.44% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Chenggang Zhou sold 56,948 shares of the company’s stock in a transaction on 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 sale, 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 SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 72,170 shares of company stock worth $4,100,348. Company insiders own 15.50% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the company. WINTON GROUP Ltd purchased a new position in New Oriental Education & Technology Group in the second quarter worth about $376,000. Carmignac Gestion grew its stake in shares of New Oriental Education & Technology Group by 0.8% during the 2nd quarter. Carmignac Gestion now owns 368,392 shares of the company’s stock valued at $16,921,000 after purchasing an additional 3,006 shares during the period. B. Metzler seel. Sohn & Co. AG grew its stake in shares of New Oriental Education & Technology Group by 10.9% during the 2nd quarter. B. Metzler seel. Sohn & Co. AG now owns 15,869 shares of the company’s stock valued at $729,000 after purchasing an additional 1,555 shares during the period. Public Employees Retirement System of Ohio purchased a new stake in shares of New Oriental Education & Technology Group during the 2nd quarter valued at about $585,000. Finally, Amundi increased its position in shares of New Oriental Education & Technology Group by 14.4% during 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 last quarter.

New Oriental Education & Technology Group Stock Down 0.2%

EDU opened at $58.54 on Friday. The firm has a 50 day moving average price of $56.37 and a 200-day moving average price of $52.80. New Oriental Education & Technology Group has a twelve month low of $44.25 and a twelve month high of $64.97. The stock has a market capitalization of $9.07 billion, a price-to-earnings ratio of 19.78, a PEG ratio of 0.62 and a beta of 0.19.

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.