New Oriental Education & Technology Group Inc. (NYSE:EDU - Get Free Report) shot up 3.6% during trading on Tuesday . The company traded as high as $53.35 and last traded at $52.62. 500,207 shares changed hands during trading, a decline of 71% from the average session volume of 1,745,364 shares. The stock had previously closed at $50.80.
Wall Street Analysts Forecast Growth
EDU has been the subject of several analyst reports. JPMorgan Chase & Co. lowered 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. StockNews.com cut New Oriental Education & Technology Group from a "buy" rating to a "hold" rating in a research report on Thursday, March 13th. Morgan Stanley lowered shares of New Oriental Education & Technology Group from an "overweight" rating to an "equal weight" rating and decreased their price target for the company from $83.00 to $52.00 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 decreased their price target for the company from $83.00 to $50.00 in a research note on Friday, January 24th. Finally, Macquarie lowered shares of New Oriental Education & Technology Group from an "outperform" rating to an "underperform" rating and decreased their target price for the stock from $79.00 to $44.00 in a research note on Wednesday, January 22nd. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the company. According to MarketBeat, New Oriental Education & Technology Group presently has an average rating of "Hold" and an average target price of $61.20.
Check Out Our Latest Stock Analysis on New Oriental Education & Technology Group
New Oriental Education & Technology Group Stock Performance
The company has a 50 day moving average of $50.80 and a 200-day moving average of $59.20. The stock has a market cap of $8.50 billion, a price-to-earnings ratio of 21.33 and a beta of 0.47.
Institutional Investors Weigh In On New Oriental Education & Technology Group
Hedge funds have recently bought and sold shares of the stock. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of New Oriental Education & Technology Group by 14.2% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,658 shares of the company's stock worth $126,000 after acquiring an additional 206 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its position in shares of New Oriental Education & Technology Group by 1.2% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 21,457 shares of the company's stock worth $1,377,000 after purchasing an additional 247 shares in the last quarter. Natixis increased its holdings in shares of New Oriental Education & Technology Group by 39.2% in the 4th quarter. Natixis now owns 881 shares of the company's stock valued at $57,000 after purchasing an additional 248 shares in the last quarter. GeoWealth Management LLC increased 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 valued at $28,000 after purchasing an additional 318 shares in the last quarter. Finally, Westpac Banking Corp acquired a new stake in New Oriental Education & Technology Group in the 4th quarter valued at about $45,000.
New Oriental Education & Technology Group Company Profile
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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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