TAL Education Group (NYSE:TAL) Shares Pass Above Two Hundred Day Moving Average - Here's Why

Key Points

• TAL Education Group shares have recently exceeded their 200-day moving average of $10.77, trading as high as $11.55 and currently positioned at $11.24.
• Citigroup has downgraded TAL's rating from "buy" to "neutral", with a reduced target price of $11.54, while the stock maintains an average rating of "Hold" with a price target of $12.66.
• Recent institutional activity includes PNC Financial Services increasing its stake by 19.4% and notably, hedge funds and other institutional investors own 37.79% of TAL's shares.

TAL Education Group (NYSE:TAL - Get Free Report) crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $10.77 and traded as high as $11.55. TAL Education Group shares last traded at $11.24, with a volume of 6,560,540 shares changing hands.

Wall Street Analyst Weigh In

Separately, Citigroup cut TAL Education Group from a "buy" rating to a "neutral" rating and cut their target price for the stock from $13.40 to $11.54 in a report on Friday, June 27th. One research analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $12.66.

TAL Education Group Trading Up 0.4%

The business's fifty day moving average is $10.84 and its 200 day moving average is $10.77. The company has a market cap of $6.84 billion, a P/E ratio of 66.12, a PEG ratio of 1.02 and a beta of 0.10.

Institutional Trading of TAL Education Group

Institutional investors have recently modified their holdings of the business. Atlas Capital Advisors Inc. bought a new stake in TAL Education Group during the first quarter valued at $29,000. Headlands Technologies LLC purchased a new stake in shares of TAL Education Group in the 1st quarter valued at about $99,000. PNC Financial Services Group Inc. boosted its position in shares of TAL Education Group by 19.4% during the 2nd quarter. PNC Financial Services Group Inc. now owns 13,983 shares of the company's stock valued at $143,000 after acquiring an additional 2,268 shares during the last quarter. Vontobel Holding Ltd. purchased a new position in shares of TAL Education Group during the first quarter worth about $153,000. Finally, iA Global Asset Management Inc. grew its holdings in shares of TAL Education Group by 68.1% during the first quarter. iA Global Asset Management Inc. now owns 13,303 shares of the company's stock worth $176,000 after purchasing an additional 5,390 shares in the last quarter. 37.79% of the stock is currently owned by hedge funds and other institutional investors.

About TAL Education Group

TAL Education Group provides K-12 after-school tutoring services in the People's Republic of China. It provides learning services primarily through small-classes services; personalized premium services; and learning content solutions, such as print books, smart books, mobile apps, and AI-driven learning devices.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.