New Oriental Education & Technology Group (NYSE:EDU) Shares Gap Up - Time to Buy?

New Oriental Education & Technology Group, Inc. (NYSE:EDU - Get Free Report) shares gapped up before the market opened on Tuesday . The stock had previously closed at $49.05, but opened at $51.98. New Oriental Education & Technology Group shares last traded at $54.20, with a volume of 908,706 shares changing hands.

Analyst Upgrades and Downgrades

EDU has been the topic of several research reports. China Renaissance lowered shares of New Oriental Education & Technology Group from a "buy" rating to a "hold" rating in a research report on Monday, March 24th. Wall Street Zen raised shares of New Oriental Education & Technology Group from a "hold" rating to a "buy" rating in a report on Monday, May 5th. Citigroup upgraded New Oriental Education & Technology Group from a "neutral" rating to a "buy" rating and dropped their price objective for the company from $77.00 to $50.00 in a research note on Friday. Finally, JPMorgan Chase & Co. upgraded shares of New Oriental Education & Technology Group from a "neutral" rating to an "overweight" rating and raised their price objective for the company from $48.00 to $62.00 in a research report on Tuesday. One analyst has rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $52.00.

New Oriental Education & Technology Group Price Performance

The company has a market cap of $9.17 billion, a P/E ratio of 22.80 and a beta of 0.25. The company has a 50 day moving average of $47.90 and a 200-day moving average of $50.90.

New Oriental Education & Technology Group (NYSE:EDU - Get Free Report) last announced its earnings results on Wednesday, April 23rd. The company reported $0.70 earnings per share for the quarter, missing analysts' consensus estimates of $0.76 by ($0.06). New Oriental Education & Technology Group had a net margin of 8.17% and a return on equity of 9.91%. The company had revenue of $1.18 billion during the quarter, compared to analysts' expectations of $1.24 billion. During the same period in the prior year, the business earned $0.63 earnings per share. The company's revenue for the quarter was down 2.0% compared to the same quarter last year. Research analysts anticipate that New Oriental Education & Technology Group, Inc. will post 2.75 EPS for the current year.

Institutional Investors Weigh In On New Oriental Education & Technology Group

Several hedge funds have recently added to or reduced their stakes in the company. GeoWealth Management LLC raised its position in New Oriental Education & Technology Group by 258.5% in the 4th quarter. GeoWealth Management LLC now owns 441 shares of the company's stock worth $28,000 after purchasing an additional 318 shares during the period. Westpac Banking Corp bought a new stake in New Oriental Education & Technology Group in the fourth quarter valued at $45,000. SBI Securities Co. Ltd. purchased a new position in shares of New Oriental Education & Technology Group during the fourth quarter valued at about $51,000. Banque Cantonale Vaudoise bought a new position in shares of New Oriental Education & Technology Group in the 1st quarter worth approximately $54,000. Finally, Natixis lifted its stake in shares of New Oriental Education & Technology Group by 39.2% in the 4th quarter. Natixis now owns 881 shares of the company's stock valued at $57,000 after purchasing an additional 248 shares during the period.

New Oriental Education & Technology Group Company Profile

New Oriental Education & Technology Group, Inc is a holding company, which engages in the provision of private educational services. It operates through the following segments: Educational Services and Test Preparation Courses, Private Label Products and Livestreaming E-Commerce, Overseas Study Consulting Services, and Educational Materials and Distribution.