New Oriental Education & Technology Group (NYSE:EDU) Stock Rating Raised to “Buy” 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 research note released on Saturday,Wall Street Zen reports.

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

New Oriental Education & Technology Group Trading Down 1.1%

Shares of NYSE:EDU opened at $48.57 on Friday. The stock has a market capitalization of $7.53 billion, a PE ratio of 15.18, a P/E/G ratio of 0.52 and a beta of 0.19. New Oriental Education & Technology Group has a 1 year low of $44.25 and a 1 year high of $64.97. The firm has a fifty day moving average price of $56.84 and a 200 day moving average price of $54.24.

Insider Activity

In related news, Director Chenggang Zhou sold 56,948 shares of the business’s stock in a transaction dated 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 transaction, the director owned 429,998 shares of the company’s stock, valued at approximately $24,436,786.34. The trade was a 11.69% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Yue Zhuge sold 1,600 shares of the stock in a transaction that occurred 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 sale, the director owned 2,000 shares of the company’s stock, valued at approximately $119,100. The trade was a 44.44% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 71,600 shares of company stock valued at $4,066,723 in the last three months. 15.50% of the stock is owned by insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. TD Waterhouse Canada Inc. grew its stake in shares of New Oriental Education & Technology Group by 2.9% in the third quarter. TD Waterhouse Canada Inc. now owns 9,189 shares of the company’s stock worth $510,000 after acquiring an additional 259 shares during the last quarter. EverSource Wealth Advisors LLC raised its position in shares of New Oriental Education & Technology Group by 106.9% during the first quarter. EverSource Wealth Advisors LLC now owns 540 shares of the company’s stock valued at $31,000 after buying an additional 279 shares during the last quarter. PNC Financial Services Group Inc. lifted its stake in shares of New Oriental Education & Technology Group by 14.8% in the first quarter. PNC Financial Services Group Inc. now owns 3,872 shares of the company’s stock valued at $219,000 after buying an additional 500 shares during the period. B. Metzler seel. Sohn & Co. AG lifted its stake in shares of New Oriental Education & Technology Group by 10.9% in the second quarter. B. Metzler seel. Sohn & Co. AG now owns 15,869 shares of the company’s stock valued at $729,000 after buying an additional 1,555 shares during the period. Finally, KBC Group NV lifted its stake in shares of New Oriental Education & Technology Group by 42.8% in the first quarter. KBC Group NV now owns 5,814 shares of the company’s stock valued at $329,000 after buying an additional 1,743 shares during the period.

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.