Bright Scholar Education Holdngs (NYSE:BEDU) Upgraded by Zacks Investment Research to Buy

Zacks Investment Research upgraded shares of Bright Scholar Education Holdngs (NYSE:BEDU) from a hold rating to a buy rating in a report issued on Wednesday, Zacks.com reports. Zacks Investment Research currently has $10.00 price objective on the stock.

According to Zacks, “Bright Scholar Education Holdings Limited is an operator of international and bilingual K-12 schools primarily in China. The Company provides bilingual, kindergarten, training and other educational services. Bright Scholar Education Holdings Limited is based in Foshan, China. “

A number of other brokerages have also commented on BEDU. Goldman Sachs Group lowered shares of Bright Scholar Education Holdngs from a buy rating to a neutral rating and reduced their price target for the stock from $10.80 to $9.80 in a research note on Thursday, December 12th. Morgan Stanley upgraded shares of Bright Scholar Education Holdngs from an underweight rating to an equal weight rating and boosted their target price for the company from $9.00 to $9.50 in a research report on Friday, January 10th.

Shares of NYSE:BEDU traded up $0.19 during midday trading on Wednesday, hitting $9.41. The company had a trading volume of 1,315 shares, compared to its average volume of 46,617. Bright Scholar Education Holdngs has a 12 month low of $8.40 and a 12 month high of $12.70. The company has a current ratio of 1.49, a quick ratio of 1.48 and a debt-to-equity ratio of 0.68. The stock has a market cap of $1.14 billion, a price-to-earnings ratio of 31.47 and a beta of 1.28. The firm has a fifty day simple moving average of $9.12 and a 200 day simple moving average of $9.31.

Bright Scholar Education Holdngs (NYSE:BEDU) last released its earnings results on Thursday, November 7th. The company reported ($0.30) earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.12 by ($0.42). Bright Scholar Education Holdngs had a net margin of 9.49% and a return on equity of 8.72%. The company had revenue of $711.60 million for the quarter, compared to the consensus estimate of $590.21 million. Bright Scholar Education Holdngs’s quarterly revenue was up 82.6% on a year-over-year basis. Equities analysts forecast that Bright Scholar Education Holdngs will post 0.48 EPS for the current fiscal year.

Several institutional investors and hedge funds have recently bought and sold shares of the business. BlackRock Inc. purchased a new stake in Bright Scholar Education Holdngs during the second quarter valued at $1,629,000. Morgan Stanley raised its stake in Bright Scholar Education Holdngs by 40.2% during the second quarter. Morgan Stanley now owns 429,855 shares of the company’s stock valued at $3,895,000 after purchasing an additional 123,322 shares in the last quarter. Renaissance Technologies LLC raised its stake in Bright Scholar Education Holdngs by 153.4% during the second quarter. Renaissance Technologies LLC now owns 132,300 shares of the company’s stock valued at $1,199,000 after purchasing an additional 80,100 shares in the last quarter. Amundi Pioneer Asset Management Inc. purchased a new stake in Bright Scholar Education Holdngs during the second quarter valued at $334,000. Finally, JPMorgan Chase & Co. raised its stake in Bright Scholar Education Holdngs by 1,230.2% during the second quarter. JPMorgan Chase & Co. now owns 32,549 shares of the company’s stock valued at $325,000 after purchasing an additional 30,102 shares in the last quarter. Institutional investors and hedge funds own 10.90% of the company’s stock.

About Bright Scholar Education Holdngs

Bright Scholar Education Holdings Limited operates K-12 schools in China. Its schools comprise international schools, bilingual schools, and kindergartens. The company also offers a range of complementary education services, including international camps and after-school programs, as well as international education consulting services.

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