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

Shares of New Oriental Education & Technology Group Inc. (NYSE:EDU) have received a consensus recommendation of “Hold” from the five analysts that are presently covering the stock, Marketbeat reports. One analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating on the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $61.20.

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

Hedge Funds Weigh In On New Oriental Education & Technology Group

Hedge funds have recently modified their holdings of the company. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of New Oriental Education & Technology Group by 14.2% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,658 shares of the company’s stock valued at $126,000 after purchasing an additional 206 shares during the period. Blue Trust Inc. increased its position in shares of New Oriental Education & Technology Group by 155.5% during the 3rd quarter. Blue Trust Inc. now owns 2,052 shares of the company’s stock valued at $160,000 after purchasing an additional 1,249 shares during the period. Empowered Funds LLC acquired a new position in shares of New Oriental Education & Technology Group during the 4th quarter valued at $138,000. Hancock Whitney Corp acquired a new position in shares of New Oriental Education & Technology Group during the 2nd quarter valued at $212,000. Finally, Oppenheimer Asset Management Inc. acquired a new position in shares of New Oriental Education & Technology Group during the 3rd quarter valued at $297,000.

New Oriental Education & Technology Group Trading Down 1.7 %

Shares of NYSE EDU opened at $47.42 on Wednesday. The company has a market cap of $8.05 billion, a price-to-earnings ratio of 20.18 and a beta of 0.44. New Oriental Education & Technology Group has a 12-month low of $44.46 and a 12-month high of $98.20. The stock’s 50 day simple moving average is $59.72 and its 200 day simple moving average is $64.08.

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.