New Oriental Education & Technology Group Inc. (NYSE:EDU) Given Consensus Rating of “Hold” by Brokerages

Shares of New Oriental Education & Technology Group Inc. (NYSE:EDU) have earned an average recommendation of “Hold” from the five brokerages that are currently covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and one has given a buy recommendation to the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $61.20.

Several analysts have issued reports on the stock. Morgan Stanley downgraded shares of New Oriental Education & Technology Group from an “overweight” rating to an “equal weight” rating and reduced their price target for the company from $83.00 to $52.00 in a report on Wednesday, January 22nd. StockNews.com downgraded shares of New Oriental Education & Technology Group from a “buy” rating to a “hold” rating in a report on Thursday. Citigroup downgraded shares of New Oriental Education & Technology Group from a “buy” rating to a “neutral” rating and reduced their price target for the company from $83.00 to $50.00 in a report on Friday, January 24th. Macquarie lowered shares of New Oriental Education & Technology Group from an “outperform” rating to an “underperform” rating and cut their price objective for the company from $79.00 to $44.00 in a research report on Wednesday, January 22nd. Finally, JPMorgan Chase & Co. lowered shares of New Oriental Education & Technology Group from an “overweight” rating to a “neutral” rating and cut their price objective for the company from $85.00 to $50.00 in a research report on Wednesday, January 22nd.

Hedge Funds Weigh In On New Oriental Education & Technology Group

A number of institutional investors have recently modified their holdings of the company. GeoWealth Management LLC increased its position in New Oriental Education & Technology Group by 258.5% during the fourth quarter. GeoWealth Management LLC now owns 441 shares of the company’s stock worth $28,000 after purchasing an additional 318 shares during the last quarter. Westpac Banking Corp acquired a new position in New Oriental Education & Technology Group during the fourth quarter worth approximately $45,000. SBI Securities Co. Ltd. acquired a new position in New Oriental Education & Technology Group during the fourth quarter worth approximately $51,000. Natixis increased its position in New Oriental Education & Technology Group by 39.2% during the fourth quarter. Natixis now owns 881 shares of the company’s stock worth $57,000 after purchasing an additional 248 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its position in New Oriental Education & Technology Group by 14.2% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,658 shares of the company’s stock worth $126,000 after purchasing an additional 206 shares during the last quarter.

New Oriental Education & Technology Group Price Performance

Shares of NYSE EDU opened at $47.22 on Thursday. New Oriental Education & Technology Group has a 12-month low of $44.46 and a 12-month high of $95.88. The company has a market capitalization of $8.01 billion, a PE ratio of 20.09 and a beta of 0.47. The firm’s 50-day moving average is $52.79 and its two-hundred day moving average is $59.86.

About New Oriental Education & Technology Group

New Oriental Education & Technology Group, Inc is a holding company, which engages in the provision of private educational services. It operates through the following segments: Educational Services and Test Preparation Courses, Private Label Products and Livestreaming E-Commerce, Overseas Study Consulting Services, and Educational Materials and Distribution.