New Oriental Education & Technology Group (NYSE:EDU - Get Free Report) had its target price reduced by JPMorgan Chase & Co. from $50.00 to $48.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage currently has a "neutral" rating on the stock. JPMorgan Chase & Co.'s target price points to a potential upside of 2.24% from the company's current price.
A number of other brokerages have also weighed in on EDU. StockNews.com cut shares of New Oriental Education & Technology Group from a "buy" rating to a "hold" rating in a research note on Thursday, March 13th. China Renaissance downgraded shares of New Oriental Education & Technology Group from a "buy" rating to a "hold" rating in a research report on Monday, March 24th. Macquarie downgraded 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 report on Wednesday, January 22nd. Citigroup lowered New Oriental Education & Technology Group from a "buy" rating to a "neutral" rating and lowered their price target for the stock from $83.00 to $50.00 in a research report on Friday, January 24th. Finally, Morgan Stanley cut New Oriental Education & Technology Group from an "overweight" rating to an "equal weight" rating and decreased their price target for the stock from $83.00 to $52.00 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. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $60.80.
Check Out Our Latest Stock Report on EDU
New Oriental Education & Technology Group Stock Up 1.8 %
NYSE:EDU traded up $0.83 during midday trading on Monday, hitting $46.95. The company had a trading volume of 1,497,589 shares, compared to its average volume of 1,860,128. The stock's fifty day moving average price is $47.13 and its 200-day moving average price is $55.15. New Oriental Education & Technology Group has a 52-week low of $40.66 and a 52-week high of $89.33. The company has a market capitalization of $7.97 billion, a PE ratio of 19.98 and a beta of 0.37.
Hedge Funds Weigh In On New Oriental Education & Technology Group
A number of institutional investors and hedge funds have recently made changes to their positions in the business. Connor Clark & Lunn Investment Management Ltd. lifted its position in shares of New Oriental Education & Technology Group by 1.2% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 21,457 shares of the company's stock valued at $1,377,000 after buying an additional 247 shares in the last quarter. Natixis grew its holdings in shares of New Oriental Education & Technology Group by 39.2% in the fourth quarter. Natixis now owns 881 shares of the company's stock valued at $57,000 after purchasing an additional 248 shares in the last quarter. GeoWealth Management LLC increased its holdings in shares of New Oriental Education & Technology Group by 258.5% in the 4th quarter. GeoWealth Management LLC now owns 441 shares of the company's stock worth $28,000 after buying an additional 318 shares during the last quarter. Westpac Banking Corp purchased a new stake in New Oriental Education & Technology Group during the fourth quarter valued at approximately $45,000. Finally, Blue Trust Inc. raised its holdings in New Oriental Education & Technology Group by 37.8% during the 4th quarter. Blue Trust Inc. now owns 2,827 shares of the company's stock valued at $181,000 after buying an additional 775 shares during the period.
About New Oriental Education & Technology Group
(
Get Free Report)
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.
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