New Oriental Education & Technology Group Inc. (NYSE:EDU) Receives Average Rating of “Hold” from Analysts

New Oriental Education & Technology Group Inc. (NYSE:EDU) has been given an average recommendation of “Hold” by the five ratings firms that are presently covering the firm, Marketbeat reports. One research analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating on the company. The average 12-month target price among brokerages that have covered the stock in the last year is $61.20.

A number of brokerages have issued reports on EDU. JPMorgan Chase & Co. cut shares of New Oriental Education & Technology Group from an “overweight” rating to a “neutral” rating and cut their target price for the stock from $85.00 to $50.00 in a research report on Wednesday, January 22nd. Citigroup cut shares of New Oriental Education & Technology Group from a “buy” rating to a “neutral” rating and cut their target price for the stock from $83.00 to $50.00 in a research report on Friday, January 24th. Macquarie cut shares of New Oriental Education & Technology Group from an “outperform” rating to an “underperform” rating and cut their target price for the stock from $79.00 to $44.00 in a research report on Wednesday, January 22nd. Finally, Morgan Stanley cut shares of New Oriental Education & Technology Group from an “overweight” rating to an “equal weight” rating and cut their target price for the stock from $83.00 to $52.00 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 EDU. GeoWealth Management LLC grew its stake 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 buying an additional 318 shares during the period. Westpac Banking Corp purchased a new stake in New Oriental Education & Technology Group during the fourth quarter worth approximately $45,000. SBI Securities Co. Ltd. purchased a new stake in New Oriental Education & Technology Group during the fourth quarter worth approximately $51,000. Natixis grew its stake 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 buying an additional 248 shares during the period. Finally, BNP Paribas purchased a new stake in New Oriental Education & Technology Group during the fourth quarter worth approximately $113,000.

New Oriental Education & Technology Group Trading Down 3.2 %

Shares of EDU opened at $52.23 on Friday. The stock has a market cap of $8.86 billion, a P/E ratio of 22.22 and a beta of 0.42. The company has a 50-day moving average of $56.19 and a two-hundred day moving average of $61.69. New Oriental Education & Technology Group has a 12-month low of $44.46 and a 12-month high of $98.20.

New Oriental Education & Technology Group Company Profile

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.