Shares of New Oriental Education & Technology Group Inc. (NYSE:EDU) gapped up prior to trading on Friday . The stock had previously closed at $40.25, but opened at $40.71. New Oriental Education & Technology Group shares last traded at $42.07, with a volume of 977,334 shares traded.

EDU has been the topic of a number of research analyst reports. Zacks Investment Research lowered New Oriental Education & Technology Group from a “strong-buy” rating to a “hold” rating in a research note on Thursday, June 2nd. T.H. Capital lifted their price target on New Oriental Education & Technology Group from $34.00 to $52.00 and gave the stock a “buy” rating in a research note on Thursday, July 21st. Jefferies Group reaffirmed a “buy” rating and issued a $50.00 price target on shares of New Oriental Education & Technology Group in a research note on Friday, July 8th. Brean Capital reaffirmed a “buy” rating on shares of New Oriental Education & Technology Group in a research note on Tuesday, August 2nd. Finally, Nomura lifted their price target on New Oriental Education & Technology Group from $36.00 to $40.00 and gave the stock a “neutral” rating in a research note on Thursday, July 21st. Three analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $41.27.

The firm has a market cap of $6.61 billion and a P/E ratio of 29.47. The company’s 50 day moving average price is $42.39 and its 200-day moving average price is $38.85.

New Oriental Education & Technology Group (NYSE:EDU) last issued its earnings results on Wednesday, July 20th. The company reported $0.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.27 by $0.02. During the same period last year, the company posted $0.26 earnings per share. The business had revenue of $394.90 million for the quarter, compared to analysts’ expectations of $389.98 million. The business’s quarterly revenue was up 20.1% on a year-over-year basis. Analysts expect that New Oriental Education & Technology Group Inc. will post $1.80 EPS for the current fiscal year.

An institutional investor recently raised its position in New Oriental Education & Technology Group stock. BNP Paribas Arbitrage SA raised its position in New Oriental Education & Technology Group Inc. (NYSE:EDU) by 182.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 179,938 shares of the company’s stock after buying an additional 116,148 shares during the period. BNP Paribas Arbitrage SA owned approximately 0.11% of New Oriental Education & Technology Group worth $5,645,000 at the end of the most recent 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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