New Oriental Education & Technology Group (NYSE:EDU) Stock Rating Lowered by China Renaissance

China Renaissance downgraded shares of New Oriental Education & Technology Group (NYSE:EDU) from a buy rating to a hold rating in a research report report published on Monday morning, Marketbeat Ratings reports.

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

New Oriental Education & Technology Group Stock Performance

Shares of NYSE:EDU opened at $47.29 on Monday. The company has a market cap of $8.02 billion, a P/E ratio of 20.12 and a beta of 0.47. New Oriental Education & Technology Group has a one year low of $44.46 and a one year high of $91.04. The business’s 50-day simple moving average is $50.08 and its 200 day simple moving average is $58.92.

Hedge Funds Weigh In On New Oriental Education & Technology Group

Several institutional investors have recently made changes to their positions in EDU. JPMorgan Chase & Co. lifted its holdings in shares of New Oriental Education & Technology Group by 192.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 826,783 shares of the company’s stock worth $62,703,000 after purchasing an additional 543,810 shares during the last quarter. Monolith Management Ltd acquired a new stake in New Oriental Education & Technology Group in the third quarter worth $15,168,000. Massachusetts Financial Services Co. MA lifted its stake in New Oriental Education & Technology Group by 12.9% in the third quarter. Massachusetts Financial Services Co. MA now owns 99,858 shares of the company’s stock valued at $7,573,000 after buying an additional 11,423 shares during the last quarter. Public Employees Retirement System of Ohio acquired a new position in shares of New Oriental Education & Technology Group during the third quarter valued at $27,425,000. Finally, Caisse DE Depot ET Placement DU Quebec boosted its holdings in shares of New Oriental Education & Technology Group by 49.2% during the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 180,151 shares of the company’s stock valued at $13,663,000 after acquiring an additional 59,429 shares during the period.

About New Oriental Education & Technology Group

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.