New Oriental Education & Technology Group (NYSE:EDU) Cut to Hold at StockNews.com

StockNews.com cut shares of New Oriental Education & Technology Group (NYSE:EDU) from a buy rating to a hold rating in a research note published on Thursday.

EDU has been the subject of several other reports. Morgan Stanley lowered shares of New Oriental Education & Technology Group from an “overweight” rating to an “equal weight” rating and lowered their price objective for the stock from $83.00 to $52.00 in a report on Wednesday, January 22nd. Citigroup lowered shares of New Oriental Education & Technology Group from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $83.00 to $50.00 in a report on Friday, January 24th. JPMorgan Chase & Co. lowered shares of New Oriental Education & Technology Group from an “overweight” rating to a “neutral” rating and lowered their target price for the company from $85.00 to $50.00 in a report on Wednesday, January 22nd. Finally, Macquarie lowered shares of New Oriental Education & Technology Group from an “outperform” rating to an “underperform” rating and lowered their target price for the company from $79.00 to $44.00 in a report on Wednesday, January 22nd. One research analyst has rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $61.20.

New Oriental Education & Technology Group Price Performance

Shares of EDU opened at $50.74 on Thursday. New Oriental Education & Technology Group has a one year low of $44.46 and a one year high of $95.88. The company has a 50-day simple moving average of $51.94 and a two-hundred day simple moving average of $59.55. The firm has a market capitalization of $8.61 billion, a PE ratio of 21.59 and a beta of 0.47.

Institutional Investors Weigh In On New Oriental Education & Technology Group

A number of large investors have recently added to or reduced their stakes in the stock. Amiral Gestion bought a new stake in New Oriental Education & Technology Group in the 4th quarter worth approximately $1,027,000. GF Fund Management CO. LTD. purchased a new position in shares of New Oriental Education & Technology Group during the 4th quarter worth $2,176,000. Vise Technologies Inc. purchased a new position in shares of New Oriental Education & Technology Group during the 4th quarter worth $228,000. Point72 Asset Management L.P. purchased a new position in shares of New Oriental Education & Technology Group during the 4th quarter worth $3,690,000. Finally, Point72 Hong Kong Ltd purchased a new position in shares of New Oriental Education & Technology Group during the 4th quarter worth $22,139,000.

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.