Shares of New Oriental Education & Technology Group Inc. (NYSE:EDU) shot up 1.7% during trading on Friday . The company traded as high as $42.98 and last traded at $42.80, with a volume of 1,136,672 shares traded. The stock had previously closed at $42.10.

A number of equities analysts have weighed in on the company. T.H. Capital lifted their price objective on New Oriental Education & Technology Group from $34.00 to $52.00 and gave the company a “buy” rating in a research note on Thursday, July 21st. Nomura lifted their price objective on New Oriental Education & Technology Group from $36.00 to $40.00 and gave the company a “neutral” rating in a research note on Thursday, July 21st. Brean Capital assumed coverage on New Oriental Education & Technology Group in a research note on Thursday, July 21st. They set a “buy” rating and a $52.00 price objective for the company. Zacks Investment Research upgraded New Oriental Education & Technology Group from a “hold” rating to a “buy” rating and set a $50.00 price objective for the company in a research note on Friday, July 22nd. Finally, Jefferies Group reiterated a “buy” rating and set a $50.00 price objective on shares of New Oriental Education & Technology Group in a research note on Friday, July 8th. Three equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. New Oriental Education & Technology Group presently has a consensus rating of “Buy” and a consensus price target of $41.27.

The company has a 50 day moving average of $42.66 and a 200-day moving average of $38.09. The stock has a market capitalization of $6.72 billion and a P/E ratio of 29.94.

New Oriental Education & Technology Group (NYSE:EDU) last released its quarterly earnings data on Wednesday, July 20th. The company reported $0.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.27 by $0.02. During the same quarter in the prior year, the company earned $0.26 EPS. The company earned $394.90 million during the quarter, compared to analyst estimates of $389.98 million. The business’s revenue was up 20.1% on a year-over-year basis. Equities research analysts anticipate that New Oriental Education & Technology Group Inc. will post $1.80 earnings per share for the current year.

Other institutional investors recently added to or reduced their stakes in the company. Cornerstone Capital Management Holdings LLC. bought a new position in New Oriental Education & Technology Group during the fourth quarter valued at about $1,020,000. GSA Capital Partners LLP increased its position in 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 valued at $1,033,000 after buying an additional 9,406 shares in the last quarter. Mitsubishi UFJ Kokusai Asset Management CO. LTD. increased its position in 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 valued at $1,365,000 after buying an additional 3,500 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. bought a new position in New Oriental Education & Technology Group during the fourth quarter valued at about $5,076,000. Finally, BNP Paribas Arbitrage SA increased its position in New Oriental Education & Technology Group by 182.1% in the fourth quarter. BNP Paribas Arbitrage SA now owns 179,938 shares of the company’s stock valued at $5,645,000 after buying an additional 116,148 shares in the last quarter.

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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