New Oriental Education & Technology Group (NYSE:EDU) Downgraded to Hold Rating by China Renaissance

New Oriental Education & Technology Group (NYSE:EDU - Get Free Report) was downgraded by research analysts at China Renaissance from a "buy" rating to a "hold" rating in a research note issued to investors on Monday, MarketBeat reports.

EDU has been the topic of several other reports. Morgan Stanley cut New Oriental Education & Technology Group from an "overweight" rating to an "equal weight" rating and reduced their target price for the stock from $83.00 to $52.00 in a report on Wednesday, January 22nd. Citigroup cut New Oriental Education & Technology Group from a "buy" rating to a "neutral" rating and decreased their price objective for the stock from $83.00 to $50.00 in a report on Friday, January 24th. 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 downgraded shares of New Oriental Education & Technology Group from an "outperform" rating to an "underperform" rating and decreased their price target for the company from $79.00 to $44.00 in a research note on Wednesday, January 22nd. Finally, JPMorgan Chase & Co. cut shares of New Oriental Education & Technology Group from an "overweight" rating to a "neutral" rating and dropped their price objective for the stock from $85.00 to $50.00 in a research note on Wednesday, January 22nd. One analyst has rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $61.20.

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New Oriental Education & Technology Group Trading Down 1.5 %

Shares of NYSE:EDU traded down $0.72 during midday trading on Monday, reaching $46.87. 317,874 shares of the company were exchanged, compared to its average volume of 1,904,464. The stock has a market cap of $7.95 billion, a PE ratio of 19.96 and a beta of 0.47. The business's fifty day moving average is $49.85 and its two-hundred day moving average is $58.84. New Oriental Education & Technology Group has a one year low of $44.46 and a one year high of $91.04.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. GeoWealth Management LLC lifted 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 acquiring an additional 318 shares during the last quarter. Westpac Banking Corp purchased a new stake in New Oriental Education & Technology Group in the 4th quarter worth about $45,000. SBI Securities Co. Ltd. bought a new stake in New Oriental Education & Technology Group in the fourth quarter worth about $51,000. Natixis boosted its position 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 valued at $57,000 after buying an additional 248 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of New Oriental Education & Technology Group by 14.2% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,658 shares of the company's stock valued at $126,000 after buying an additional 206 shares during 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.