New Oriental Education & Technology Group (NYSE:EDU) Cut to Hold at China Renaissance

New Oriental Education & Technology Group (NYSE:EDU) was downgraded by stock analysts at China Renaissance from a “buy” rating to a “hold” rating in a research report issued on Monday, Marketbeat reports.

Other analysts have also issued reports about the company. Citigroup lowered New Oriental Education & Technology Group from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $83.00 to $50.00 in a research report on Friday, January 24th. Macquarie cut New Oriental Education & Technology Group from an “outperform” rating to an “underperform” rating and dropped their price target for the company from $79.00 to $44.00 in a report on Wednesday, January 22nd. Morgan Stanley downgraded shares of New Oriental Education & Technology Group from an “overweight” rating to an “equal weight” rating and cut their target price for the company from $83.00 to $52.00 in a research note on Wednesday, January 22nd. StockNews.com cut shares of New Oriental Education & Technology Group from a “buy” rating to a “hold” rating in a report on Thursday, March 13th. Finally, JPMorgan Chase & Co. cut shares of New Oriental Education & Technology Group from an “overweight” rating to a “neutral” rating and decreased their price objective for the stock from $85.00 to $50.00 in a report on Wednesday, January 22nd. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $61.20.

New Oriental Education & Technology Group Stock Down 5.6 %

Shares of EDU stock traded down $2.80 during mid-day trading on Monday, hitting $47.41. 420,327 shares of the company’s stock were exchanged, compared to its average volume of 1,749,893. New Oriental Education & Technology Group has a fifty-two week low of $44.46 and a fifty-two week high of $92.50. The stock has a 50-day simple moving average of $50.80 and a two-hundred day simple moving average of $59.20. The stock has a market cap of $8.04 billion, a price-to-earnings ratio of 20.20 and a beta of 0.47.

Institutional Investors Weigh In On New Oriental Education & Technology Group

Several hedge funds and other institutional investors have recently added to or reduced their stakes in EDU. B. Metzler seel. Sohn & Co. Holding AG bought a new position in shares of New Oriental Education & Technology Group in the 3rd quarter valued at about $316,000. Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of New Oriental Education & Technology Group during the 3rd quarter worth about $1,609,000. Massachusetts Financial Services Co. MA boosted its holdings in shares of New Oriental Education & Technology Group by 12.9% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 99,858 shares of the company’s stock worth $7,573,000 after buying an additional 11,423 shares during the period. Monolith Management Ltd bought a new stake in shares of New Oriental Education & Technology Group during the 3rd quarter worth about $15,168,000. Finally, Harvest Fund Management Co. Ltd boosted its holdings in shares of New Oriental Education & Technology Group by 9.5% during the 3rd quarter. Harvest Fund Management Co. Ltd now owns 289,420 shares of the company’s stock worth $21,935,000 after buying an additional 25,000 shares during the period.

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.