New Oriental Education & Technology Group Inc. (NYSE:EDU) shares hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $45.37 and last traded at $45.24, with a volume of 947,065 shares. The stock had previously closed at $44.31.

EDU has been the subject of several recent research reports. Zacks Investment Research upgraded New Oriental Education & Technology Group from a “hold” rating to a “buy” rating and set a $50.00 price target for the company in a research report on Friday, July 22nd. T.H. Capital lifted their price target on New Oriental Education & Technology Group from $34.00 to $52.00 and gave the company a “buy” rating in a research report on Thursday, July 21st. Nomura lifted their price target on New Oriental Education & Technology Group from $36.00 to $40.00 and gave the company a “neutral” rating in a research report on Thursday, July 21st. Brean Capital initiated coverage on New Oriental Education & Technology Group in a research report on Thursday, July 21st. They set a “buy” rating and a $52.00 price target for the company. Finally, Jefferies Group reiterated a “buy” rating and set a $50.00 price target on shares of New Oriental Education & Technology Group in a research report on Friday, July 8th. Three investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $41.27.

The stock has a market cap of $6.91 billion and a PE ratio of 30.81. The stock has a 50 day moving average price of $41.68 and a 200 day moving average price of $36.80.

New Oriental Education & Technology Group (NYSE:EDU) last announced its earnings results on Wednesday, July 20th. The company reported $0.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.27 by $0.02. The firm earned $394.90 million during the quarter, compared to analyst estimates of $389.98 million. During the same period last year, the company earned $0.26 earnings per share. The firm’s revenue for the quarter was up 20.1% compared to the same quarter last year. On average, equities research analysts predict that New Oriental Education & Technology Group Inc. will post $1.81 EPS for the current fiscal year.

Several hedge funds have recently made changes to their positions in the stock. Mitsubishi UFJ Kokusai Asset Management CO. LTD. boosted its stake in shares of New Oriental Education & Technology Group by 8.8% in the fourth quarter. Mitsubishi UFJ Kokusai Asset Management CO. LTD. now owns 43,500 shares of the company’s stock worth $1,365,000 after buying an additional 3,500 shares during the period. GSA Capital Partners LLP boosted its stake in shares of New Oriental Education & Technology Group by 40.0% in the fourth quarter. GSA Capital Partners LLP now owns 32,930 shares of the company’s stock worth $1,033,000 after buying an additional 9,406 shares during the period. Cornerstone Capital Management Holdings LLC. purchased a new stake in shares of New Oriental Education & Technology Group during the fourth quarter worth about $1,020,000. Dai Ichi Life Insurance CO. LTD. purchased a new stake in shares of New Oriental Education & Technology Group during the fourth quarter worth about $1,600,000. Finally, Mizuho Trust & Banking Co. Ltd. purchased a new stake in shares of New Oriental Education & Technology Group during the fourth quarter worth about $1,637,000.

New Oriental Education & Technology Group Inc is a provider of private educational services in the People’s Republic of China (the PRC). The Company offers a range of educational programs, services and products, consisting primarily of English and other foreign language training, test preparation courses for admissions and assessment tests in the United States, the PRC and Commonwealth countries, primary and secondary school education, development and distribution of educational content, software and other technology, and online education.

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