New Oriental Education & Technology Group Inc. (NYSE:EDU - Get Free Report) hit a new 52-week low during trading on Friday . The company traded as low as $44.06 and last traded at $44.75, with a volume of 51137 shares changing hands. The stock had previously closed at $47.79.
Wall Street Analysts Forecast Growth
A number of research analysts have weighed in on EDU shares. Morgan Stanley lowered shares of New Oriental Education & Technology Group from an "overweight" rating to an "equal weight" rating and decreased their target price for the stock from $83.00 to $52.00 in a research note on Wednesday, January 22nd. Citigroup downgraded New Oriental Education & Technology Group from a "buy" rating to a "neutral" rating and cut their target price for the stock from $83.00 to $50.00 in a research note on Friday, January 24th. China Renaissance downgraded shares of New Oriental Education & Technology Group from a "buy" rating to a "hold" rating in a report on Monday, March 24th. JPMorgan Chase & Co. cut New Oriental Education & Technology Group from an "overweight" rating to a "neutral" rating and decreased their price objective for the company from $85.00 to $50.00 in a report on Wednesday, January 22nd. Finally, StockNews.com downgraded New Oriental Education & Technology Group from a "buy" rating to a "hold" rating in a research report on Thursday, March 13th. 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 company. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $61.20.
Read Our Latest Report on New Oriental Education & Technology Group
New Oriental Education & Technology Group Price Performance
The company has a market capitalization of $6.99 billion, a PE ratio of 17.53 and a beta of 0.37. The stock's 50 day simple moving average is $49.25 and its 200-day simple moving average is $58.13.
Institutional Investors Weigh In On New Oriental Education & Technology Group
A number of hedge funds have recently added to or reduced their stakes in EDU. Wellington Management Group LLP raised its stake in shares of New Oriental Education & Technology Group by 57.9% in the fourth quarter. Wellington Management Group LLP now owns 627,686 shares of the company's stock valued at $40,285,000 after acquiring an additional 230,140 shares in the last quarter. Amiral Gestion acquired a new stake in shares of New Oriental Education & Technology Group in the 4th quarter valued at about $1,027,000. GF Fund Management CO. LTD. acquired a new stake in shares of New Oriental Education & Technology Group in the fourth quarter valued at approximately $2,176,000. Vise Technologies Inc. purchased a new position in New Oriental Education & Technology Group during the 4th quarter worth $228,000. Finally, Point72 Asset Management L.P. acquired a new position in New Oriental Education & Technology Group in the 4th quarter valued at about $3,690,000.
New Oriental Education & Technology Group Company Profile
(
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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