New Oriental Education & Technology Group (NYSE:EDU) Stock Rating Lowered by Wall Street Zen

Key Points

• Wall Street Zen downgraded New Oriental Education & Technology Group to “hold” from “buy.” Despite the downgrade, analysts overall maintain a “Moderate Buy” consensus with an average price target of $64.54.
• EDU shares opened at $58.89, compared with a one-year range of $43.27 to $64.97, giving the company a market capitalization of approximately $9.31 billion.
• Institutional interest increased significantly, with Invesco, Federated Hermes, Discerene Group and Orbis Allan Gray among investors expanding their positions during the fourth quarter.

New Oriental Education & Technology Group (NYSE:EDU - Get Free Report) was downgraded by stock analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a note issued to investors on Saturday.

Other research analysts also recently issued research reports about the stock. New Street Research set a $56.50 price objective on shares of New Oriental Education & Technology Group in a report on Thursday. The Goldman Sachs Group raised New Oriental Education & Technology Group from a "neutral" rating to a "buy" rating and decreased their price objective for the stock from $67.00 to $65.00 in a report on Thursday, June 11th. Finally, Weiss Ratings restated a "hold (c)" rating on shares of New Oriental Education & Technology Group in a report on Tuesday, July 21st. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $64.54.

New Oriental Education & Technology Group Price Performance

Shares of EDU opened at $58.89 on Friday. New Oriental Education & Technology Group has a one year low of $43.27 and a one year high of $64.97. The company has a market cap of $9.31 billion, a PE ratio of 19.89, a P/E/G ratio of 0.60 and a beta of 0.19. The stock has a 50-day moving average of $47.87 and a 200-day moving average of $53.14.

Hedge Funds Weigh In On New Oriental Education & Technology Group

A number of hedge funds and other institutional investors have recently made changes to their positions in EDU. Invesco Ltd. increased its holdings in New Oriental Education & Technology Group by 5,697.3% during the fourth quarter. Invesco Ltd. now owns 4,610,905 shares of the company's stock worth $253,738,000 after buying an additional 4,531,370 shares during the last quarter. Discerene Group LP boosted its stake in New Oriental Education & Technology Group by 23.7% in the fourth quarter. Discerene Group LP now owns 1,955,430 shares of the company's stock valued at $107,607,000 after acquiring an additional 374,916 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new position in shares of New Oriental Education & Technology Group during the 4th quarter valued at approximately $86,526,000. Orbis Allan Gray Ltd grew its position in shares of New Oriental Education & Technology Group by 40.2% during the 4th quarter. Orbis Allan Gray Ltd now owns 837,551 shares of the company's stock valued at $46,090,000 after acquiring an additional 240,053 shares during the period. Finally, Federated Hermes Inc. grew its position in shares of New Oriental Education & Technology Group by 13,865.2% during the 4th quarter. Federated Hermes Inc. now owns 742,249 shares of the company's stock valued at $40,846,000 after acquiring an additional 736,934 shares during the period.

New Oriental Education & Technology Group Company Profile

New Oriental Education & Technology Group NYSE: EDU is one of China's leading providers of private educational services, specializing in language training, test preparation and consulting for overseas study. The company's offerings span a range of subjects, including English language instruction, preparatory courses for examinations such as the TOEFL, GRE and GMAT, and K-12 after-school tutoring. New Oriental's curriculum is delivered through a combination of in-person learning centers and digital platforms, enabling students across various regions to access its educational resources.

Founded in 1993 by Michael Yu Minhong in Beijing, New Oriental began as a small language school and quickly expanded its footprint.

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