New Oriental Education & Technology Group, Inc. (NYSE:EDU) Given Consensus Recommendation of "Moderate Buy" by Brokerages

Key Points

• Analyst sentiment is moderately bullish: Eight brokerages give New Oriental Education & Technology Group a consensus “Moderate Buy” rating, including five buys, two holds and one strong buy. The average 12-month price target is $64.54.
• EDU shares recently rose 4.1%: The stock opened at $56.78, with a market capitalization of approximately $8.97 billion and a 52-week trading range of $44.25 to $64.97.
• Insiders have been selling shares: Company insiders sold 72,170 shares worth about $4.1 million over the past 90 days, while several institutional investors recently initiated or increased positions.

New Oriental Education & Technology Group, Inc. (NYSE:EDU - Get Free Report) has been assigned an average recommendation of "Moderate Buy" from the eight ratings firms that are currently covering the stock, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a hold recommendation, five have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $64.54.

A number of analysts recently commented on EDU shares. Wall Street Zen lowered New Oriental Education & Technology Group from a "buy" rating to a "hold" rating in a research report on Saturday, August 1st. The Goldman Sachs Group upgraded shares of New Oriental Education & Technology Group from a "neutral" rating to a "buy" rating and cut 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 target price on shares of New Oriental Education & Technology Group in a research note on Thursday, July 30th. Finally, Weiss Ratings reiterated a "hold (c)" rating on shares of New Oriental Education & Technology Group in a research report on Tuesday, July 21st.

New Oriental Education & Technology Group Stock Up 4.1%

EDU stock opened at $56.78 on Thursday. The company has a market cap of $8.97 billion, a P/E ratio of 19.18, a PEG ratio of 0.58 and a beta of 0.24. New Oriental Education & Technology Group has a twelve month low of $44.25 and a twelve month high of $64.97. The business has a fifty day moving average of $50.26 and a 200-day moving average of $53.01.

Insider Activity at New Oriental Education & Technology Group

In other New Oriental Education & Technology Group news, Director Yue Zhuge sold 1,600 shares of New Oriental Education & Technology Group stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $59.55, for a total transaction of $95,280.00. Following the completion of the sale, the director owned 2,000 shares of the company's stock, valued at approximately $119,100. The trade was a 44.44% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Chenggang Zhou sold 56,948 shares of the company's stock in a transaction on 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 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 position. The disclosure for this sale is available in the SEC filing. Insiders 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.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Caitong International Asset Management Co. Ltd increased its holdings in New Oriental Education & Technology Group by 7,314.3% in the third quarter. Caitong International Asset Management Co. Ltd now owns 519 shares of the company's stock valued at $28,000 after purchasing an additional 512 shares during the last quarter. EverSource Wealth Advisors LLC boosted its holdings in 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 worth $31,000 after buying an additional 279 shares during the last quarter. Atlas Capital Advisors Inc. bought a new position in New Oriental Education & Technology Group during the fourth quarter worth about $72,000. Raymond James Financial Inc. acquired a new position in shares of New Oriental Education & Technology Group during the 2nd quarter worth about $111,000. Finally, Leonteq Securities AG acquired a new position in shares of New Oriental Education & Technology Group during the 4th quarter worth about $155,000.

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.

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