New Oriental Education & Technology Group Inc. (NYSE:EDU - Get Free Report) gapped down before the market opened on Monday . The stock had previously closed at $50.20, but opened at $47.18. New Oriental Education & Technology Group shares last traded at $47.08, with a volume of 394,991 shares.
Wall Street Analyst Weigh In
EDU has been the subject of several research analyst reports. Citigroup downgraded 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. Macquarie cut shares of New Oriental Education & Technology Group from an "outperform" rating to an "underperform" rating and lowered their price target for the stock from $79.00 to $44.00 in a research report on Wednesday, January 22nd. China Renaissance lowered New Oriental Education & Technology Group from a "buy" rating to a "hold" rating in a research note on Monday. 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. Finally, StockNews.com downgraded shares of New Oriental Education & Technology Group from a "buy" rating to a "hold" rating in a research report on Thursday, March 13th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $61.20.
Check Out Our Latest Analysis on EDU
New Oriental Education & Technology Group Price Performance
The company has a market capitalization of $7.97 billion, a P/E ratio of 19.97 and a beta of 0.47. The company's 50-day moving average price is $49.85 and its two-hundred day moving average price is $58.84.
Institutional Trading of New Oriental Education & Technology Group
Institutional investors have recently modified their holdings of the stock. JPMorgan Chase & Co. increased its stake in shares of New Oriental Education & Technology Group by 192.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 826,783 shares of the company's stock valued at $62,703,000 after purchasing an additional 543,810 shares during the last quarter. Public Employees Retirement System of Ohio acquired a new position in shares of New Oriental Education & Technology Group during the third quarter valued at about $27,425,000. Caisse DE Depot ET Placement DU Quebec boosted its position in shares of New Oriental Education & Technology Group by 49.2% during the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 180,151 shares of the company's stock valued at $13,663,000 after buying an additional 59,429 shares during the last quarter. Green Court Capital Management Ltd purchased a new position in New Oriental Education & Technology Group in the fourth quarter worth $21,152,000. Finally, Panview Capital Ltd bought a new position in shares of New Oriental Education & Technology Group during the 4th quarter worth $27,358,000.
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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