New Oriental Education & Technology Group, Inc. (NYSE:EDU) Stock Has Average Target Price of $63.17

Key Points

• Analysts remain moderately bullish: New Oriental Education & Technology Group has a consensus “Moderate Buy” rating, with three buys, one strong buy and two holds. The average 12-month price target is $63.17 versus a recent price of $57.46.
• EDU shares are trading within their recent range: The stock has a 52-week range of $44.25 to $64.97, a market capitalization of approximately $8.91 billion and a P/E ratio of 19.41.
• Insiders have been selling shares: Company insiders sold 72,170 shares worth roughly $4.1 million over the past 90 days, including substantial sales by directors Yue Zhuge and Chenggang Zhou.

Shares of New Oriental Education & Technology Group, Inc. (NYSE:EDU - Get Free Report) have received an average rating of "Moderate Buy" from the six ratings firms that are currently covering the firm, MarketBeat reports. Two equities research analysts have rated the stock with a hold recommendation, three have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $63.17.

A number of analysts have recently commented on the stock. 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 upgraded New Oriental Education & Technology Group from a "neutral" rating to a "buy" rating and decreased their target price for the company from $67.00 to $65.00 in a research report on Thursday, June 11th. New Street Research set a $56.50 price objective on New Oriental Education & Technology Group in a research note on Thursday, July 30th. Finally, Wall Street Zen cut shares of New Oriental Education & Technology Group from a "buy" rating to a "hold" rating in a research note on Saturday, August 1st.

New Oriental Education & Technology Group Price Performance

Shares of EDU stock opened at $57.46 on Friday. New Oriental Education & Technology Group has a 1-year low of $44.25 and a 1-year high of $64.97. The company has a market cap of $8.91 billion, a price-to-earnings ratio of 19.41, a PEG ratio of 0.61 and a beta of 0.19. The stock has a 50 day simple moving average of $56.38 and a 200-day simple moving average of $52.78.

Insider Transactions at New Oriental Education & Technology Group

In other New Oriental Education & Technology Group news, Director Yue Zhuge sold 1,600 shares of the firm's stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $59.55, for a total value of $95,280.00. Following the transaction, the director directly owned 2,000 shares of the company's stock, valued at $119,100. This trade represents a 44.44% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Chenggang Zhou sold 56,948 shares of the company's stock in a transaction that occurred on Monday, August 10th. The shares were sold at an average price of $56.83, for a total value 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. This trade represents a 11.69% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 72,170 shares of company stock worth $4,100,348 over the last 90 days. 15.50% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On New Oriental Education & Technology Group

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

New Oriental Education & Technology Group Company Profile

New Oriental Education & Technology Group is a China-based education services provider founded in 1993 by Michael Yu. The company offers educational programs and services for students, families and adult learners, with operations focused primarily on China.

Its business activities have included test preparation for international examinations, overseas study consulting, language training, online education and educational materials. New Oriental has also provided tutoring and other education services for students in primary and secondary school, as well as programs designed to support domestic academic development and professional skills.

The company serves customers through learning centers, schools and digital platforms across multiple regions of China.

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