New Oriental Education & Technology Group (NYSE:EDU) Shares Gap Up After Analyst Upgrade

Shares of New Oriental Education & Technology Group Inc. (NYSE:EDU) gapped up before the market opened on Friday after Citigroup raised their price target on the stock from $66.00 to $127.00. The stock had previously closed at $79.64, but opened at $84.00. Citigroup currently has a buy rating on the stock. New Oriental Education & Technology Group shares last traded at $82.57, with a volume of 932,222 shares.

A number of other brokerages have also issued reports on EDU. Morgan Stanley lifted their target price on New Oriental Education & Technology Group from $85.00 to $95.00 and gave the stock an “overweight” rating in a research report on Thursday, March 28th. StockNews.com cut shares of New Oriental Education & Technology Group from a “buy” rating to a “hold” rating in a report on Thursday, January 4th. One analyst has rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, New Oriental Education & Technology Group has a consensus rating of “Moderate Buy” and a consensus target price of $97.67.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. FMR LLC grew its stake in New Oriental Education & Technology Group by 92.7% in the 3rd quarter. FMR LLC now owns 6,631,500 shares of the company’s stock valued at $388,274,000 after buying an additional 3,189,254 shares during the last quarter. Schroder Investment Management Group grew its stake in New Oriental Education & Technology Group by 22.8% in the 3rd quarter. Schroder Investment Management Group now owns 4,094,455 shares of the company’s stock valued at $239,730,000 after buying an additional 760,062 shares during the last quarter. Goldman Sachs Group Inc. grew its stake in New Oriental Education & Technology Group by 37.4% in the 4th quarter. Goldman Sachs Group Inc. now owns 2,374,408 shares of the company’s stock valued at $173,997,000 after buying an additional 646,122 shares during the last quarter. WT Asset Management Ltd grew its stake in New Oriental Education & Technology Group by 48.9% in the 3rd quarter. WT Asset Management Ltd now owns 1,899,128 shares of the company’s stock valued at $111,194,000 after buying an additional 623,435 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund grew its stake in New Oriental Education & Technology Group by 141.4% in the 4th quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,608,792 shares of the company’s stock valued at $117,892,000 after buying an additional 942,392 shares during the last quarter.

New Oriental Education & Technology Group Trading Up 3.8 %

The firm has a market cap of $14.02 billion, a price-to-earnings ratio of 42.83 and a beta of 0.49. The stock’s 50 day moving average is $89.48 and its 200 day moving average is $78.82.

New Oriental Education & Technology Group (NYSE:EDU) last posted its quarterly earnings data on Wednesday, January 24th. The company reported $0.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.23). New Oriental Education & Technology Group had a net margin of 7.72% and a return on equity of 8.20%. The business had revenue of $869.60 million during the quarter, compared to the consensus estimate of $814.01 million. During the same period in the prior year, the firm earned $0.01 EPS. The business’s revenue for the quarter was up 36.3% on a year-over-year basis. On average, equities research analysts predict that New Oriental Education & Technology Group Inc. will post 2.02 EPS for the current year.

About New Oriental Education & Technology Group

New Oriental Education & Technology Group Inc provides private educational services under the New Oriental brand in the People's Republic of China. The company operates through four segments: Educational Services and Test Preparation Courses; Online Education and Other Services; Overseas Study Consulting Services; and Educational Materials and Distribution.