New Oriental Education & Technology Group (NYSE:EDU) Stock Rating Upgraded by Wall Street Zen

New Oriental Education & Technology Group (NYSE:EDU) was upgraded by equities research analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a report released on Saturday, Wall Street Zen reports.

Other equities analysts also recently issued reports about the company. Weiss Ratings downgraded New Oriental Education & Technology Group from a “hold (c+)” rating to a “hold (c)” rating in a research report on Wednesday. New Street Research set a $56.50 price objective on shares of New Oriental Education & Technology Group in a research report on Thursday, July 30th. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $60.75.

New Oriental Education & Technology Group Price Performance

Shares of NYSE:EDU opened at $48.57 on Friday. The stock’s 50-day moving average is $56.84 and its 200 day moving average is $54.24. The company has a market cap of $7.53 billion, a PE ratio of 15.18, a P/E/G ratio of 0.52 and a beta of 0.24. New Oriental Education & Technology Group has a 1 year low of $44.25 and a 1 year high of $64.97.

Insider Buying and Selling

In other New Oriental Education & Technology Group news, Director Chenggang Zhou sold 56,948 shares of the firm’s stock in a transaction on Monday, August 10th. The stock was 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 approximately $24,436,786.34. This trade represents a 11.69% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 15.50% of the stock is currently owned by insiders.

Institutional Investors Weigh In On New Oriental Education & Technology Group

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

About New Oriental Education & Technology Group

New Oriental Education & Technology Group Inc (NYSE: EDU) is a China-based education services provider founded in 1993 by Michael Minhong Yu. The company operates schools, learning centers and online platforms that serve students, families and adult learners across China.

Its offerings have historically included test preparation for examinations such as the TOEFL, IELTS and other standardized tests; overseas study consulting; language training; educational services for primary and secondary students; adult and vocational education; and educational technology.