TAL Education Group Shares Upgraded Amid Positive Analyst Ratings
TAL Education Group (NYSE:TAL) has received a positive boost from analysts, as Wall Street Zen upgraded the company’s stock from a hold rating to a buy rating in a report released on October 30, 2023. The upgrade follows a series of favorable assessments from other major financial institutions, indicating growing confidence in the company’s performance.
Analyst Upgrades and Ratings Overview
In addition to Wall Street Zen’s upgrade, JPMorgan Chase & Co. elevated TAL Education Group’s status from a neutral rating to an overweight rating, setting a price target of $16.00. This upgrade was also reported on October 30, 2023. Meanwhile, Weiss Ratings maintained a hold rating with a grade of C- in a statement on October 8, 2023, while Zacks Research shifted its evaluation from hold to strong buy on November 4, 2023.
Currently, one analyst has issued a strong buy rating, while two have given buy ratings and three have assigned hold ratings to the stock. According to MarketBeat.com, TAL Education Group holds an average rating of “Moderate Buy” with an average price target of $13.91.
Financial Performance and Market Activity
TAL Education Group recently announced its earnings results on October 30, 2023, reporting earnings per share of $0.21, surpassing analyst estimates of $0.16 by $0.05. The company recorded a net margin of 6.45% and a return on equity of 4.71%. Revenue for the quarter reached $861.35 million, exceeding the consensus estimate of $819.03 million.
Looking ahead, analysts predict that TAL Education Group will achieve an earnings per share of $0.20 for the current fiscal year, reflecting continued optimism about its financial trajectory.
Recent activities among institutional investors also highlight increasing interest in TAL Education Group. Krane Funds Advisors LLC boosted its stake by 25.5% during the third quarter, acquiring an additional 4,684,426 shares and increasing its total holdings to 23,072,787 shares valued at approximately $253.5 million.
Other significant changes in shareholding include Aspex Management HK Ltd, which raised its position by 52.0% in the second quarter, now owning 21,586,517 shares worth around $220.6 million. Additionally, Vanguard Group Inc. increased its holdings by 0.4%, and Bank of America Corp DE lifted its stake by 14.3% during the second quarter.
Overall, approximately 37.79% of TAL Education Group’s shares are now held by institutional investors and hedge funds, reflecting a solid foundation of support from major financial entities.
About TAL Education Group
TAL Education Group specializes in K-12 after-school tutoring services within the People’s Republic of China. The company offers a range of educational services, including small-class tutoring, personalized premium services, and various learning solutions such as print books, smart books, mobile applications, and AI-driven learning devices.
As analysts continue to express optimism about TAL Education Group’s future, stakeholders will be closely monitoring upcoming developments and financial results to gauge the company’s ongoing performance in the competitive education sector.
