New Oriental Education & Technology Group (NYSE:EDU) Trading Up 4.9%

New Oriental Education & Technology Group Inc. (NYSE:EDU) rose 4.9% during trading on Friday . The company traded as high as $56.98 and last traded at $56.88. Approximately 290,382 shares were traded during mid-day trading, a decline of 85% from the average daily volume of 1,911,868 shares. The stock had previously closed at $54.24.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on EDU shares. StockNews.com lowered New Oriental Education & Technology Group from a “buy” rating to a “hold” rating in a research report on Friday, August 25th. TheStreet upgraded New Oriental Education & Technology Group from a “d+” rating to a “c-” rating in a research note on Wednesday, July 26th. Finally, UBS Group lifted their price target on New Oriental Education & Technology Group from $65.00 to $71.00 in a research report on Thursday, July 27th.

New Oriental Education & Technology Group Trading Up 7.2 %

The company has a market capitalization of $9.87 billion, a PE ratio of 56.47 and a beta of 0.67. The stock has a fifty day moving average of $49.26 and a two-hundred day moving average of $43.17.

New Oriental Education & Technology Group (NYSE:EDU) last announced its quarterly earnings results on Wednesday, July 26th. The company reported $0.22 EPS for the quarter, missing analysts’ consensus estimates of $1.12 by ($0.90). The company had revenue of $860.57 million during the quarter, compared to analysts’ expectations of $827.96 million. New Oriental Education & Technology Group had a return on equity of 4.67% and a net margin of 5.92%. Equities analysts forecast that New Oriental Education & Technology Group Inc. will post 2 EPS for the current year.

Institutional Investors Weigh In On New Oriental Education & Technology Group

Hedge funds have recently made changes to their positions in the company. Sunbelt Securities Inc. bought a new stake in New Oriental Education & Technology Group in the first quarter worth $46,000. Atlas Capital Advisors LLC purchased a new position in shares of New Oriental Education & Technology Group in the first quarter worth $51,000. James Investment Research Inc. purchased a new position in shares of New Oriental Education & Technology Group in the first quarter worth $64,000. Clear Street Markets LLC purchased a new position in shares of New Oriental Education & Technology Group in the fourth quarter worth $58,000. Finally, 1832 Asset Management L.P. purchased a new stake in New Oriental Education & Technology Group during the fourth quarter valued at $59,000. 89.51% of the stock is currently owned by institutional investors.

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 Educational Services and Test Preparation Courses; Online Education and Other Services; Overseas Study Consulting Services; and Others segments.