New Oriental Education & Technology Group (NYSE:EDU) Downgraded to “Neutral” Rating by Citigroup

Citigroup downgraded shares of New Oriental Education & Technology Group (NYSE:EDU) from a buy rating to a neutral rating in a research note issued to investors on Friday, Marketbeat Ratings reports. The brokerage currently has $50.00 price target on the stock, down from their previous price target of $83.00.

A number of other analysts have also recently commented on EDU. Morgan Stanley cut 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 report on Wednesday, January 22nd. StockNews.com upgraded New Oriental Education & Technology Group from a “sell” rating to a “hold” rating in a research note on Thursday, October 24th. Macquarie downgraded New Oriental Education & Technology Group from an “outperform” rating to an “underperform” rating and lowered their target price for the company from $79.00 to $44.00 in a research report on Wednesday, January 22nd. Finally, JPMorgan Chase & Co. cut New Oriental Education & Technology Group from an “overweight” rating to a “neutral” rating and reduced their price target for the stock from $85.00 to $50.00 in a research report on Wednesday, January 22nd. One research analyst has rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $61.20.

New Oriental Education & Technology Group Stock Down 0.1 %

NYSE EDU opened at $46.71 on Friday. The company has a 50-day moving average price of $60.03 and a 200-day moving average price of $64.49. New Oriental Education & Technology Group has a 52 week low of $44.46 and a 52 week high of $98.20. The firm has a market capitalization of $7.93 billion, a P/E ratio of 19.88 and a beta of 0.44.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Aspex Management HK Ltd grew its holdings in New Oriental Education & Technology Group by 46.7% during the 3rd quarter. Aspex Management HK Ltd now owns 4,753,340 shares of the company’s stock valued at $360,493,000 after buying an additional 1,513,640 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of New Oriental Education & Technology Group by 20,215.2% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 994,431 shares of the company’s stock worth $75,418,000 after acquiring an additional 989,536 shares during the last quarter. JPMorgan Chase & Co. grew its stake in New Oriental Education & Technology Group by 192.2% during the third quarter. JPMorgan Chase & Co. now owns 826,783 shares of the company’s stock valued at $62,703,000 after acquiring an additional 543,810 shares in the last quarter. Millennium Management LLC increased its holdings in New Oriental Education & Technology Group by 147.5% in the 2nd quarter. Millennium Management LLC now owns 731,758 shares of the company’s stock valued at $56,880,000 after acquiring an additional 436,098 shares during the last quarter. Finally, Public Employees Retirement System of Ohio purchased a new stake in New Oriental Education & Technology Group in the 3rd quarter worth $27,425,000.

About New Oriental Education & Technology Group

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.