New Oriental Education & Technology Group (NYSE:EDU) Hits New 1-Year Low - Time to Sell?

New Oriental Education & Technology Group Inc. (NYSE:EDU - Get Free Report) hit a new 52-week low during mid-day trading on Friday . The stock traded as low as $44.06 and last traded at $44.75, with a volume of 51137 shares trading hands. The stock had previously closed at $47.79.

Analyst Upgrades and Downgrades

EDU has been the subject of a number of recent research reports. JPMorgan Chase & Co. downgraded shares of New Oriental Education & Technology Group from an "overweight" rating to a "neutral" rating and dropped their price target for the stock from $85.00 to $50.00 in a research note on Wednesday, January 22nd. StockNews.com downgraded New Oriental Education & Technology Group from a "buy" rating to a "hold" rating in a research note on Thursday, March 13th. Morgan Stanley lowered New Oriental Education & Technology Group from an "overweight" rating to an "equal weight" rating and cut their target price for the company from $83.00 to $52.00 in a research note on Wednesday, January 22nd. China Renaissance lowered New Oriental Education & Technology Group from a "buy" rating to a "hold" rating in a research report on Monday, March 24th. Finally, Citigroup cut shares of New Oriental Education & Technology Group from a "buy" rating to a "neutral" rating and decreased their price objective for the company from $83.00 to $50.00 in a report on Friday, January 24th. One equities 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 company's stock. According to MarketBeat, the company has a consensus rating of "Hold" and an average price target of $61.20.

New Oriental Education & Technology Group Stock Performance

The firm has a market capitalization of $7.26 billion, a price-to-earnings ratio of 18.16 and a beta of 0.37. The company has a 50-day moving average of $49.00 and a 200-day moving average of $57.86.

Institutional Investors Weigh In On New Oriental Education & Technology Group

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in 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 worth $126,000 after purchasing an additional 206 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its holdings in shares of New Oriental Education & Technology Group by 1.2% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 21,457 shares of the company's stock worth $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% during the fourth quarter. Natixis now owns 881 shares of the company's stock worth $57,000 after buying an additional 248 shares in the last quarter. GeoWealth Management LLC raised its position in New Oriental Education & Technology Group by 258.5% in the 4th quarter. GeoWealth Management LLC now owns 441 shares of the company's stock valued at $28,000 after buying an additional 318 shares during the last quarter. Finally, Westpac Banking Corp bought a new stake in New Oriental Education & Technology Group in the 4th quarter valued at approximately $45,000.

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.