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

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

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

New Oriental Education & Technology Group Stock Down 2.5 %

EDU opened at $46.37 on Monday. The company has a market cap of $7.87 billion, a P/E ratio of 19.73 and a beta of 0.47. The firm’s 50-day moving average price is $50.31 and its 200-day moving average price is $59.00. New Oriental Education & Technology Group has a 52-week low of $44.46 and a 52-week high of $91.04.

Institutional Trading of New Oriental Education & Technology Group

A number of hedge funds have recently modified their holdings of EDU. GeoWealth Management LLC raised its position in New Oriental Education & Technology Group by 258.5% during the fourth quarter. GeoWealth Management LLC now owns 441 shares of the company’s stock valued at $28,000 after acquiring an additional 318 shares in the last quarter. Westpac Banking Corp purchased a new position in shares of New Oriental Education & Technology Group during the 4th quarter valued at approximately $45,000. SBI Securities Co. Ltd. acquired a new position in shares of New Oriental Education & Technology Group in the 4th quarter valued at $51,000. Natixis boosted its holdings in New Oriental Education & Technology Group by 39.2% during the fourth quarter. Natixis now owns 881 shares of the company’s stock worth $57,000 after buying an additional 248 shares in the last quarter. Finally, BNP Paribas acquired a new stake in New Oriental Education & Technology Group during the fourth quarter valued at $113,000.

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.