New Oriental Education & Technology Group (NYSE:EDU) Sees Unusually-High Trading Volume on Analyst Upgrade

New Oriental Education & Technology Group Inc. (NYSE:EDU) saw strong trading volume on Thursday after Citigroup raised their price target on the stock from $66.00 to $127.00. Citigroup currently has a buy rating on the stock. 1,685,429 shares were traded during trading, a decline of 4% from the previous session’s volume of 1,753,971 shares.The stock last traded at $80.52 and had previously closed at $77.08.

A number of other research firms have also recently commented on EDU. Morgan Stanley increased their target price on New Oriental Education & Technology Group from $85.00 to $95.00 and gave the company an “overweight” rating in a research note on Thursday, March 28th. StockNews.com cut New Oriental Education & Technology Group from a “buy” rating to a “hold” rating in a report on Thursday, January 4th. One research analyst has rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, New Oriental Education & Technology Group has an average rating of “Moderate Buy” and an average target price of $97.67.

Hedge Funds Weigh In On New Oriental Education & Technology Group

Large investors have recently added to or reduced their stakes in the business. Assetmark Inc. boosted its position in New Oriental Education & Technology Group by 1,642.9% during the fourth quarter. Assetmark Inc. now owns 610 shares of the company’s stock valued at $45,000 after buying an additional 575 shares during the period. Personal CFO Solutions LLC purchased a new stake in New Oriental Education & Technology Group during the 3rd quarter valued at about $200,000. AFG Fiduciary Services Limited Partnership bought a new position in New Oriental Education & Technology Group during the 3rd quarter worth approximately $218,000. Yousif Capital Management LLC purchased a new position in New Oriental Education & Technology Group in the 1st quarter worth approximately $231,000. Finally, Jump Financial LLC bought a new stake in New Oriental Education & Technology Group in the fourth quarter valued at approximately $235,000.

New Oriental Education & Technology Group Stock Up 4.5 %

The firm’s fifty day moving average price is $89.25 and its 200-day moving average price is $78.82. The stock has a market cap of $14.13 billion, a P/E ratio of 44.76 and a beta of 0.49.

New Oriental Education & Technology Group (NYSE:EDU) last announced its quarterly earnings results on Wednesday, January 24th. The company reported $0.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.23). The firm had revenue of $869.60 million during the quarter, compared to the consensus estimate of $814.01 million. New Oriental Education & Technology Group had a return on equity of 8.11% and a net margin of 7.72%. New Oriental Education & Technology Group’s revenue was up 36.3% on a year-over-year basis. During the same period last year, the business earned $0.01 EPS. Sell-side analysts predict that New Oriental Education & Technology Group Inc. will post 2.02 earnings per share for the current year.

About New Oriental Education & Technology Group

New Oriental Education & Technology Group Inc provides private educational services under the New Oriental brand in the People's Republic of China. The company operates through four segments: Educational Services and Test Preparation Courses; Online Education and Other Services; Overseas Study Consulting Services; and Educational Materials and Distribution.