New Oriental Education & Technology Group (NYSE:EDU) Given New $48.00 Price Target at JPMorgan Chase & Co.

New Oriental Education & Technology Group (NYSE:EDU - Get Free Report) had its target price reduced by analysts at JPMorgan Chase & Co. from $50.00 to $48.00 in a note issued to investors on Monday,Benzinga reports. The firm currently has a "neutral" rating on the stock. JPMorgan Chase & Co.'s price target would indicate a potential upside of 4.81% from the stock's current price.

Other equities research analysts have also issued reports about the company. Morgan Stanley lowered New Oriental Education & Technology Group from an "overweight" rating to an "equal weight" rating and cut their price objective for the stock from $83.00 to $52.00 in a research report on Wednesday, January 22nd. StockNews.com lowered shares of New Oriental Education & Technology Group from a "buy" rating to a "hold" rating in a report on Thursday, March 13th. Macquarie lowered shares of New Oriental Education & Technology Group from an "outperform" rating to an "underperform" rating and cut their target price for the company from $79.00 to $44.00 in a research note on Wednesday, January 22nd. China Renaissance downgraded shares of New Oriental Education & Technology Group from a "buy" rating to a "hold" rating in a research note on Monday, March 24th. Finally, Citigroup cut New Oriental Education & Technology Group from a "buy" rating to a "neutral" rating and cut their price objective for the company from $83.00 to $50.00 in a research report on Friday, January 24th. One 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.com, the company has a consensus rating of "Hold" and a consensus target price of $60.80.

New Oriental Education & Technology Group Trading Down 0.7 %

Shares of EDU stock traded down $0.32 during mid-day trading on Monday, reaching $45.80. The stock had a trading volume of 652,722 shares, compared to its average volume of 1,876,052. The firm has a market capitalization of $7.77 billion, a PE ratio of 19.53 and a beta of 0.37. The stock's 50-day moving average price is $47.27 and its two-hundred day moving average price is $55.48. New Oriental Education & Technology Group has a 52-week low of $40.66 and a 52-week high of $89.33.

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. KBC Group NV purchased a new stake in shares of New Oriental Education & Technology Group in the 1st quarter worth approximately $192,000. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of New Oriental Education & Technology Group by 3,276.9% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,056,414 shares of the company's stock worth $50,507,000 after acquiring an additional 1,025,130 shares during the last quarter. Robeco Institutional Asset Management B.V. grew its stake in shares of New Oriental Education & Technology Group by 7.4% in the first quarter. Robeco Institutional Asset Management B.V. now owns 32,397 shares of the company's stock worth $1,549,000 after acquiring an additional 2,239 shares during the last quarter. Janney Montgomery Scott LLC purchased a new position in shares of New Oriental Education & Technology Group in the 1st quarter worth about $448,000. Finally, SG Americas Securities LLC boosted its stake in New Oriental Education & Technology Group by 330.4% in the 1st quarter. SG Americas Securities LLC now owns 18,265 shares of the company's stock worth $873,000 after purchasing an additional 14,021 shares in the last quarter.

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.