New Oriental Education & Technology Group Inc. (NYSE:EDU) shot up 2.1% during trading on Thursday . The company traded as high as $40.36 and last traded at $40.30, with a volume of 586,798 shares changing hands. The stock had previously closed at $39.48.

A number of brokerages have commented on EDU. Brean Capital reissued a “buy” rating on shares of New Oriental Education & Technology Group in a research report on Tuesday, August 2nd. Zacks Investment Research raised shares of New Oriental Education & Technology Group from a “hold” rating to a “buy” rating and set a $50.00 price objective on the stock in a research report on Friday, July 22nd. T.H. Capital increased their price objective on shares of 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 increased their price objective on shares of 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. Finally, Jefferies Group reissued a “buy” rating and issued a $50.00 price objective on shares of New Oriental Education & Technology Group in a research report 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 company. The company currently has an average rating of “Buy” and a consensus target price of $41.27.

The company has a market capitalization of $6.61 billion and a price-to-earnings ratio of 29.47. The stock’s 50-day moving average is $42.39 and its 200 day moving average is $38.85.

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

An institutional investor recently raised its position in New Oriental Education & Technology Group stock. BNP Paribas Arbitrage SA raised its position in shares of New Oriental Education & Technology Group Inc. (NYSE:EDU) by 182.1% during the fourth quarter, according to its most recent 13F filing with the SEC. 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 about 0.11% of New Oriental Education & Technology Group worth $5,645,000 at the end of the most recent reporting period.

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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