New Oriental Education & Technology Group (NYSE:EDU) Lowered to “Hold” Rating by China Renaissance

New Oriental Education & Technology Group (NYSE:EDU) was downgraded by equities researchers at China Renaissance from a “buy” rating to a “hold” rating in a note issued to investors on Monday, MarketBeat reports.

EDU has been the subject of several other reports. Macquarie cut shares of New Oriental Education & Technology Group from an “outperform” rating to an “underperform” rating and decreased their price objective for the stock from $79.00 to $44.00 in a research report on Wednesday, January 22nd. Morgan Stanley cut shares of New Oriental Education & Technology Group from an “overweight” rating to an “equal weight” rating and reduced their price target for the stock from $83.00 to $52.00 in a report on Wednesday, January 22nd. StockNews.com cut shares of New Oriental Education & Technology Group from a “buy” rating to a “hold” rating in a report on Thursday, March 13th. Citigroup cut shares of New Oriental Education & Technology Group from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $83.00 to $50.00 in a report on Friday, January 24th. Finally, JPMorgan Chase & Co. lowered shares of New Oriental Education & Technology Group from an “overweight” rating to a “neutral” rating and dropped their price objective for the company from $85.00 to $50.00 in a research note on Wednesday, January 22nd. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $61.20.

New Oriental Education & Technology Group Stock Down 5.6 %

Shares of EDU stock traded down $2.80 during trading hours on Monday, hitting $47.41. 420,327 shares of the company’s stock traded hands, compared to its average volume of 1,749,893. New Oriental Education & Technology Group has a 12 month low of $44.46 and a 12 month high of $92.50. The stock’s 50 day simple moving average is $50.80 and its 200 day simple moving average is $59.20. The stock has a market cap of $8.04 billion, a PE ratio of 20.20 and a beta of 0.47.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in EDU. GeoWealth Management LLC raised its position in New Oriental Education & Technology Group by 258.5% in the fourth quarter. GeoWealth Management LLC now owns 441 shares of the company’s stock worth $28,000 after acquiring an additional 318 shares during the period. Westpac Banking Corp bought a new stake in New Oriental Education & Technology Group in the fourth quarter worth about $45,000. SBI Securities Co. Ltd. bought a new stake in New Oriental Education & Technology Group in the fourth quarter worth about $51,000. Natixis raised its position in New Oriental Education & Technology Group by 39.2% in the fourth quarter. Natixis now owns 881 shares of the company’s stock worth $57,000 after acquiring an additional 248 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its position in New Oriental Education & Technology Group by 14.2% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,658 shares of the company’s stock worth $126,000 after acquiring an additional 206 shares during the period.

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.