New Oriental Education & Technology Group Inc. (NYSE:EDU) Receives $61.20 Consensus Target Price from Brokerages

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

Several research analysts recently issued reports on the stock. Citigroup lowered 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 note on Friday, January 24th. Morgan Stanley cut shares of New Oriental Education & Technology Group from an “overweight” rating to an “equal weight” rating and cut their price objective for the stock from $83.00 to $52.00 in a research report on Wednesday, January 22nd. JPMorgan Chase & Co. downgraded New Oriental Education & Technology Group from an “overweight” rating to a “neutral” rating and reduced their target price for the company from $85.00 to $50.00 in a research note on Wednesday, January 22nd. Macquarie downgraded New Oriental Education & Technology Group from an “outperform” rating to an “underperform” rating and reduced their target price for the company from $79.00 to $44.00 in a research note on Wednesday, January 22nd. Finally, StockNews.com downgraded New Oriental Education & Technology Group from a “buy” rating to a “hold” rating in a report on Thursday, March 13th.

Institutional Trading of New Oriental Education & Technology Group

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Aspex Management HK Ltd increased its holdings in New Oriental Education & Technology Group by 56.8% during the 4th quarter. Aspex Management HK Ltd now owns 7,454,906 shares of the company’s stock worth $478,456,000 after purchasing an additional 2,701,566 shares in the last quarter. FMR LLC grew its holdings in New Oriental Education & Technology Group by 46.3% during the fourth quarter. FMR LLC now owns 4,539,678 shares of the company’s stock worth $291,357,000 after buying an additional 1,437,656 shares in the last quarter. Price T Rowe Associates Inc. MD grew its holdings in New Oriental Education & Technology Group by 61.3% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 3,894,541 shares of the company’s stock worth $249,952,000 after buying an additional 1,480,391 shares in the last quarter. Schroder Investment Management Group grew its stake in shares of New Oriental Education & Technology Group by 17.2% in the 4th quarter. Schroder Investment Management Group now owns 3,019,859 shares of the company’s stock worth $193,815,000 after acquiring an additional 442,656 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its stake in shares of New Oriental Education & Technology Group by 175.4% in the 4th quarter. JPMorgan Chase & Co. now owns 2,276,762 shares of the company’s stock worth $146,123,000 after acquiring an additional 1,449,979 shares in the last quarter.

New Oriental Education & Technology Group Stock Performance

New Oriental Education & Technology Group stock opened at $52.67 on Thursday. The stock has a market capitalization of $8.94 billion, a price-to-earnings ratio of 22.41 and a beta of 0.47. New Oriental Education & Technology Group has a 52-week low of $44.46 and a 52-week high of $95.88. The stock’s 50 day moving average price is $51.27 and its two-hundred day moving average price is $59.34.

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.