New Oriental Education & Technology Group Inc. (NYSE:EDU - Get Free Report)'s stock price gapped up before the market opened on Friday . The stock had previously closed at $48.04, but opened at $51.14. New Oriental Education & Technology Group shares last traded at $50.50, with a volume of 355,338 shares traded.
Wall Street Analyst Weigh In
EDU has been the topic of several recent research reports. StockNews.com lowered shares of New Oriental Education & Technology Group from a "buy" rating to a "hold" rating in a research note on Thursday, March 13th. Macquarie lowered shares of New Oriental Education & Technology Group from an "outperform" rating to an "underperform" rating and reduced their target price for the company from $79.00 to $44.00 in a research note on Wednesday, January 22nd. Citigroup lowered shares of New Oriental Education & Technology Group from a "buy" rating to a "neutral" rating and reduced their target price for the company from $83.00 to $50.00 in a research note on Friday, January 24th. Morgan Stanley lowered shares of New Oriental Education & Technology Group from an "overweight" rating to an "equal weight" rating and reduced their target price for the company from $83.00 to $52.00 in a research note on Wednesday, January 22nd. Finally, JPMorgan Chase & Co. lowered shares of New Oriental Education & Technology Group from an "overweight" rating to a "neutral" rating and reduced their target price for the company from $85.00 to $50.00 in a research note on Wednesday, January 22nd. One analyst has rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the company's stock. According to data from MarketBeat, New Oriental Education & Technology Group presently has an average rating of "Hold" and a consensus price target of $61.20.
Read Our Latest Stock Analysis on EDU
New Oriental Education & Technology Group Stock Performance
The firm has a market capitalization of $8.93 billion, a price-to-earnings ratio of 22.38 and a beta of 0.47. The business's 50-day moving average is $51.49 and its two-hundred day moving average is $59.39.
Institutional Trading of New Oriental Education & Technology Group
Several hedge funds have recently bought and sold shares of the stock. Aspex Management HK Ltd raised its holdings in New Oriental Education & Technology Group by 56.8% during the 4th quarter. Aspex Management HK Ltd now owns 7,454,906 shares of the company's stock worth $478,456,000 after buying an additional 2,701,566 shares during the period. FMR LLC raised its holdings in New Oriental Education & Technology Group by 46.3% during the 4th quarter. FMR LLC now owns 4,539,678 shares of the company's stock worth $291,357,000 after buying an additional 1,437,656 shares during the period. Price T Rowe Associates Inc. MD grew its stake in shares of New Oriental Education & Technology Group by 61.3% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 3,894,541 shares of the company's stock worth $249,952,000 after acquiring an additional 1,480,391 shares in the last quarter. Schroder Investment Management Group grew its stake in shares of New Oriental Education & Technology Group by 17.2% during the 4th quarter. Schroder Investment Management Group now owns 3,019,859 shares of the company's stock worth $193,815,000 after acquiring an additional 442,656 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its stake in shares of New Oriental Education & Technology Group by 175.4% during the 4th quarter. JPMorgan Chase & Co. now owns 2,276,762 shares of the company's stock worth $146,123,000 after acquiring an additional 1,449,979 shares in the last quarter.
About New Oriental Education & Technology Group
(
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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