New Oriental Education & Technology Group (NYSE:EDU) Shares Gap Up to $74.05

New Oriental Education & Technology Group Inc. (NYSE:EDU)’s stock price gapped up prior to trading on Monday . The stock had previously closed at $74.05, but opened at $77.00. New Oriental Education & Technology Group shares last traded at $76.98, with a volume of 337,780 shares changing hands.

Analyst Ratings Changes

EDU has been the topic of a number of analyst reports. HSBC started coverage on New Oriental Education & Technology Group in a research report on Wednesday, May 29th. They set a “buy” rating and a $110.00 target price on the stock. Citigroup raised their price objective on New Oriental Education & Technology Group from $66.00 to $127.00 and gave the company a “buy” rating in a research note on Thursday, April 25th. Finally, Morgan Stanley upped 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 report on Thursday, March 28th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $100.75.

New Oriental Education & Technology Group Stock Performance

The business’s 50 day moving average price is $77.61 and its 200-day moving average price is $82.58. The firm has a market cap of $12.62 billion, a price-to-earnings ratio of 39.99 and a beta of 0.44.

New Oriental Education & Technology Group (NYSE:EDU) last announced its quarterly earnings data on Wednesday, April 24th. The company reported $0.51 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.57 by ($0.06). New Oriental Education & Technology Group had a net margin of 7.72% and a return on equity of 8.11%. The firm had revenue of $1.21 billion for the quarter, compared to analyst estimates of $1.09 billion. On average, analysts forecast that New Oriental Education & Technology Group Inc. will post 1.86 earnings per share for the current fiscal year.

Institutional Investors Weigh In On New Oriental Education & Technology Group

A number of institutional investors have recently made changes to their positions in EDU. Assetmark Inc. boosted its holdings in New Oriental Education & Technology Group by 1,642.9% in the fourth quarter. Assetmark Inc. now owns 610 shares of the company’s stock worth $45,000 after purchasing an additional 575 shares during the period. Blue Trust Inc. boosted its holdings in shares of New Oriental Education & Technology Group by 782.4% in the 2nd quarter. Blue Trust Inc. now owns 803 shares of the company’s stock valued at $62,000 after buying an additional 712 shares during the period. Yousif Capital Management LLC bought a new stake in shares of New Oriental Education & Technology Group during the 1st quarter valued at about $231,000. Jump Financial LLC acquired a new stake in New Oriental Education & Technology Group during the fourth quarter worth about $235,000. Finally, Panagora Asset Management Inc. bought a new position in New Oriental Education & Technology Group in the fourth quarter worth about $240,000.

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.