New Oriental Education & Technology Group (NYSE:EDU) Stock Rating Raised to Buy at Wall Street Zen

Key Points

• Wall Street Zen upgraded New Oriental Education & Technology Group from “hold” to “buy.” The stock has a “Moderate Buy” consensus rating and an average price target of $60.75.
• EDU opened at $48.57, down 1.1%, with a market capitalization of approximately $7.53 billion. Its 12-month trading range is $44.25 to $64.97.
• Company insiders sold 71,600 shares worth about $4.07 million over the past three months, while several institutional investors increased their holdings during the first quarter.

New Oriental Education & Technology Group (NYSE:EDU - Get Free Report) was upgraded by equities research analysts at Wall Street Zen from a "hold" rating to a "buy" rating in a research note issued on Saturday, Wall Street Zen reports.

Several other research firms also recently issued reports on EDU. New Street Research set a $56.50 price target on New Oriental Education & Technology Group in a research note on Thursday, July 30th. Weiss Ratings cut New Oriental Education & Technology Group from a "hold (c+)" rating to a "hold (c)" rating in a research report on Wednesday. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $60.75.

New Oriental Education & Technology Group Trading Down 1.1%

New Oriental Education & Technology Group stock opened at $48.57 on Friday. New Oriental Education & Technology Group has a 12 month low of $44.25 and a 12 month high of $64.97. The stock's 50 day moving average is $56.84 and its 200-day moving average is $54.24. The company has a market capitalization of $7.53 billion, a price-to-earnings ratio of 15.18, a PEG ratio of 0.52 and a beta of 0.19.

Insider Buying and Selling

In other New Oriental Education & Technology Group news, Director Chenggang Zhou sold 56,948 shares of the firm's stock in a transaction on Monday, August 10th. The stock was sold at an average price of $56.83, for a total transaction of $3,236,354.84. Following the transaction, the director owned 429,998 shares in the company, valued at $24,436,786.34. This trade represents a 11.69% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Yue Zhuge sold 1,600 shares of the firm's stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $59.55, for a total value of $95,280.00. Following the transaction, the director owned 2,000 shares in the company, valued at approximately $119,100. This trade represents a 44.44% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 71,600 shares of company stock worth $4,066,723 in the last three months. 15.50% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. EverSource Wealth Advisors LLC increased its holdings in New Oriental Education & Technology Group by 106.9% in the 1st quarter. EverSource Wealth Advisors LLC now owns 540 shares of the company's stock valued at $31,000 after buying an additional 279 shares during the period. Arrowstreet Capital Limited Partnership bought a new stake in shares of New Oriental Education & Technology Group during the 1st quarter worth approximately $209,000. PNC Financial Services Group Inc. lifted its holdings in shares of New Oriental Education & Technology Group by 14.8% during the 1st quarter. PNC Financial Services Group Inc. now owns 3,872 shares of the company's stock worth $219,000 after acquiring an additional 500 shares during the period. Assetmark Inc. lifted its holdings in shares of New Oriental Education & Technology Group by 4,389.0% during the 1st quarter. Assetmark Inc. now owns 5,701 shares of the company's stock worth $323,000 after acquiring an additional 5,574 shares during the period. Finally, KBC Group NV boosted its position in shares of New Oriental Education & Technology Group by 42.8% during the 1st quarter. KBC Group NV now owns 5,814 shares of the company's stock worth $329,000 after acquiring an additional 1,743 shares in the last quarter.

About New Oriental Education & Technology Group

New Oriental Education & Technology Group Inc NYSE: EDU is a China-based education services provider founded in 1993 by Michael Minhong Yu. The company operates schools, learning centers and online platforms that serve students, families and adult learners across China.

Its offerings have historically included test preparation for examinations such as the TOEFL, IELTS and other standardized tests; overseas study consulting; language training; educational services for primary and secondary students; adult and vocational education; and educational technology.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.