Citigroup Increases New Oriental Education & Technology Group (NYSE:EDU) Price Target to $127.00

New Oriental Education & Technology Group (NYSE:EDU) had its price target raised by Citigroup from $66.00 to $127.00 in a report issued on Thursday, Benzinga reports. The firm currently has a buy rating on the stock.

EDU has been the topic of several other research reports. Morgan Stanley raised their price objective on New Oriental Education & Technology Group from $85.00 to $95.00 and gave the stock an overweight rating in a report on Thursday, March 28th. StockNews.com cut New Oriental Education & Technology Group from a buy rating to a hold rating in a research note on Thursday, January 4th. One equities research analyst has rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of Moderate Buy and a consensus price target of $97.67.

New Oriental Education & Technology Group Price Performance

Shares of EDU stock traded up $3.96 during trading hours on Thursday, reaching $83.60. 2,339,474 shares of the stock were exchanged, compared to its average volume of 1,806,740. The business’s fifty day moving average is $89.48 and its two-hundred day moving average is $78.82. The firm has a market capitalization of $14.19 billion, a P/E ratio of 42.83 and a beta of 0.49. New Oriental Education & Technology Group has a 12-month low of $35.70 and a 12-month high of $98.20.

New Oriental Education & Technology Group (NYSE:EDU) last posted its quarterly earnings results on Wednesday, January 24th. The company reported $0.03 EPS for the quarter, missing the consensus estimate of $0.26 by ($0.23). The firm had revenue of $869.60 million for the quarter, compared to analyst estimates of $814.01 million. New Oriental Education & Technology Group had a return on equity of 8.20% and a net margin of 7.72%. The company’s revenue was up 36.3% on a year-over-year basis. During the same quarter last year, the firm earned $0.01 EPS. As a group, equities research analysts predict that New Oriental Education & Technology Group will post 2.02 earnings per share for the current fiscal year.

Hedge Funds Weigh In On New Oriental Education & Technology Group

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Assetmark Inc. lifted its position in New Oriental Education & Technology Group by 1,642.9% during the 4th quarter. Assetmark Inc. now owns 610 shares of the company’s stock worth $45,000 after acquiring an additional 575 shares during the period. Jump Financial LLC acquired a new position in New Oriental Education & Technology Group during the 4th quarter worth approximately $235,000. Panagora Asset Management Inc. purchased a new position in shares of New Oriental Education & Technology Group during the 4th quarter worth approximately $240,000. Personal CFO Solutions LLC acquired a new stake in shares of New Oriental Education & Technology Group in the 3rd quarter valued at approximately $200,000. Finally, AFG Fiduciary Services Limited Partnership purchased a new stake in shares of New Oriental Education & Technology Group in the third quarter valued at approximately $218,000.

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.