New Oriental Education & Technology Group, Inc. (NYSE:EDU) Receives $64.54 Average Price Target from Analysts

Shares of New Oriental Education & Technology Group, Inc. (NYSE:EDU) have been given an average recommendation of “Moderate Buy” by the eight brokerages that are covering the firm, MarketBeat.com reports. Two investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating on the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $64.54.

EDU has been the subject of several research analyst reports. New Street Research set a $56.50 target price on New Oriental Education & Technology Group in a research note on Thursday, July 30th. Weiss Ratings reissued a “hold (c)” rating on shares of New Oriental Education & Technology Group in a research note on Tuesday, July 21st. The Goldman Sachs Group raised shares of New Oriental Education & Technology Group from a “neutral” rating to a “buy” rating and cut their price target for the stock from $67.00 to $65.00 in a report on Thursday, June 11th. Finally, Wall Street Zen cut shares of New Oriental Education & Technology Group from a “buy” rating to a “hold” rating in a research report on Saturday, August 1st.

Insider Activity

In other news, Director Chenggang Zhou sold 56,948 shares of the business’s stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $56.83, for a total transaction of $3,236,354.84. Following the completion of the sale, the director owned 429,998 shares of the company’s stock, valued at $24,436,786.34. The trade was a 11.69% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Yue Zhuge sold 1,600 shares of the company’s stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of $59.55, for a total transaction of $95,280.00. Following the transaction, the director owned 2,000 shares of the company’s stock, valued at approximately $119,100. This trade represents a 44.44% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 72,170 shares of company stock worth $4,100,348. Company insiders own 15.50% of the company’s stock.

Institutional Investors Weigh In On New Oriental Education & Technology Group

Several large investors have recently bought and sold shares of EDU. EverSource Wealth Advisors LLC raised its holdings 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 acquiring an additional 279 shares during the last quarter. PNC Financial Services Group Inc. boosted its stake in shares of New Oriental Education & Technology Group by 10.6% in the fourth quarter. PNC Financial Services Group Inc. now owns 3,372 shares of the company’s stock worth $186,000 after acquiring an additional 324 shares during the last quarter. Vident Advisory LLC boosted its stake in shares of New Oriental Education & Technology Group by 8.2% in the fourth quarter. Vident Advisory LLC now owns 5,939 shares of the company’s stock worth $327,000 after acquiring an additional 449 shares during the last quarter. Ieq Capital LLC increased its position in shares of New Oriental Education & Technology Group by 11.5% during the fourth quarter. Ieq Capital LLC now owns 4,760 shares of the company’s stock worth $262,000 after purchasing an additional 492 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd increased its position in shares of New Oriental Education & Technology Group by 7,314.3% during the third quarter. Caitong International Asset Management Co. Ltd now owns 519 shares of the company’s stock worth $28,000 after purchasing an additional 512 shares in the last quarter.

New Oriental Education & Technology Group Stock Performance

Shares of EDU stock opened at $55.83 on Thursday. New Oriental Education & Technology Group has a fifty-two week low of $44.25 and a fifty-two week high of $64.97. The firm has a market capitalization of $8.82 billion, a PE ratio of 18.86, a P/E/G ratio of 0.59 and a beta of 0.24. The stock’s 50-day simple moving average is $50.64 and its 200-day simple moving average is $52.99.

New Oriental Education & Technology Group Company Profile

New Oriental Education & Technology Group (NYSE: EDU) is one of China’s leading providers of private educational services, specializing in language training, test preparation and consulting for overseas study. The company’s offerings span a range of subjects, including English language instruction, preparatory courses for examinations such as the TOEFL, GRE and GMAT, and K-12 after-school tutoring. New Oriental’s curriculum is delivered through a combination of in-person learning centers and digital platforms, enabling students across various regions to access its educational resources.

Founded in 1993 by Michael Yu Minhong in Beijing, New Oriental began as a small language school and quickly expanded its footprint.