New Oriental Education & Technology Group (NYSE:EDU) Rating Increased to Overweight at JPMorgan Chase & Co.

New Oriental Education & Technology Group (NYSE:EDU - Get Free Report) was upgraded by investment analysts at JPMorgan Chase & Co. from a "neutral" rating to an "overweight" rating in a report issued on Tuesday, Marketbeat.com reports. The firm presently has a $62.00 target price on the stock, up from their prior target price of $48.00. JPMorgan Chase & Co.'s price target would indicate a potential upside of 14.79% from the company's previous close.

EDU has been the subject of a number of other research reports. China Renaissance downgraded New Oriental Education & Technology Group from a "buy" rating to a "hold" rating in a report on Monday, March 24th. Wall Street Zen raised New Oriental Education & Technology Group from a "hold" rating to a "buy" rating in a report on Monday, May 5th. One research analyst has rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the company's stock. Based on data from MarketBeat.com, New Oriental Education & Technology Group currently has a consensus rating of "Hold" and an average price target of $52.00.

New Oriental Education & Technology Group Stock Performance

Shares of NYSE:EDU traded down $0.47 during midday trading on Tuesday, hitting $54.01. The company's stock had a trading volume of 804,563 shares, compared to its average volume of 1,741,919. The stock's 50 day simple moving average is $47.90 and its 200 day simple moving average is $50.90. The stock has a market capitalization of $9.17 billion, a price-to-earnings ratio of 22.79 and a beta of 0.25. New Oriental Education & Technology Group has a fifty-two week low of $40.66 and a fifty-two week high of $87.26.

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

Institutional Trading of New Oriental Education & Technology Group

Institutional investors have recently added to or reduced their stakes in the company. SBI Securities Co. Ltd. bought a new stake in shares of New Oriental Education & Technology Group in the fourth quarter valued at about $51,000. Green Court Capital Management Ltd bought a new position in shares of New Oriental Education & Technology Group during the fourth quarter worth approximately $21,152,000. Raymond James Financial Inc. acquired a new stake in shares of New Oriental Education & Technology Group in the fourth quarter valued at approximately $266,000. Prescott Group Capital Management L.L.C. raised its position in shares of New Oriental Education & Technology Group by 153.0% in the fourth quarter. Prescott Group Capital Management L.L.C. now owns 25,303 shares of the company's stock valued at $1,624,000 after buying an additional 15,303 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its stake in shares of New Oriental Education & Technology Group by 1.2% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 21,457 shares of the company's stock valued at $1,377,000 after buying an additional 247 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.