TAL Education Group (TAL) Sees Large Increase in Short Interest
TAL Education Group (NYSE:TAL) was the target of a large increase in short interest during the month of October. As of October 31st, there was short interest totalling 17,520,254 shares, an increase of 29.3% from the October 13th total of 13,553,463 shares. Based on an average daily volume of 9,059,269 shares, the short-interest ratio is currently 1.9 days.
Shares of TAL Education Group (NYSE TAL) opened at $28.76 on Wednesday. TAL Education Group has a one year low of $11.02 and a one year high of $36.16. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.14 and a current ratio of 1.14. The company has a market cap of $14,760.00, a price-to-earnings ratio of 122.50, a P/E/G ratio of 1.37 and a beta of 0.20.
TAL Education Group (NYSE:TAL) last announced its quarterly earnings results on Thursday, October 26th. The company reported $0.10 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.12 by ($0.02). TAL Education Group had a return on equity of 18.17% and a net margin of 9.90%. The company had revenue of $455.80 million for the quarter, compared to analyst estimates of $441.18 million. The company’s quarterly revenue was up 68.1% on a year-over-year basis. analysts predict that TAL Education Group will post 0.37 earnings per share for the current fiscal year.
A number of large investors have recently made changes to their positions in the stock. Oppenheimer Asset Management Inc. acquired a new stake in TAL Education Group during the 2nd quarter worth $153,000. Tower Research Capital LLC TRC acquired a new stake in TAL Education Group during the 2nd quarter worth $154,000. QS Investors LLC acquired a new stake in TAL Education Group during the 2nd quarter worth $208,000. Brighton Jones LLC acquired a new position in TAL Education Group in the second quarter valued at $226,000. Finally, Greenleaf Trust acquired a new position in TAL Education Group in the second quarter valued at $229,000. Hedge funds and other institutional investors own 18.64% of the company’s stock.
Several equities research analysts have recently issued reports on the stock. Macquarie cut shares of TAL Education Group from an “outperform” rating to a “neutral” rating in a research report on Friday, October 27th. Zacks Investment Research raised shares of TAL Education Group from a “hold” rating to a “strong-buy” rating and set a $39.00 price objective for the company in a research report on Thursday, October 26th. Bank of America Corporation reaffirmed a “buy” rating and set a $40.30 price objective (up from $29.10) on shares of TAL Education Group in a research report on Monday, September 25th. Jefferies Group LLC lifted their price objective on shares of TAL Education Group to $35.00 and gave the stock a “buy” rating in a research report on Monday, August 28th. Finally, Morgan Stanley assumed coverage on shares of TAL Education Group in a research report on Friday, August 25th. They set an “overweight” rating and a $37.00 price objective for the company. Three equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $31.16.
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About TAL Education Group
TAL Education Group is a holding company for a group of companies engaged in provision of after-school tutoring programs for primary and secondary school students in the People’s Republic of China (the PRC). The Company is a K-12 after-school tutoring services provider in China. The Company’s Xueersi Peiyou small classes course consists of approximately four semesters, which include approximately two school semesters in Spring and Fall, and approximately two holiday semesters in summer and winter.
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