New Oriental Education & Technology Group (NYSE:EDU) Upgraded by StockNews.com to “Buy” Rating

StockNews.com upgraded shares of New Oriental Education & Technology Group (NYSE:EDU) from a hold rating to a buy rating in a report published on Wednesday.

EDU has been the topic of a number of other reports. 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 company from $85.00 to $50.00 in a research note on Wednesday, January 22nd. Morgan Stanley lowered 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. Macquarie downgraded New Oriental Education & Technology Group from an “outperform” rating to an “underperform” rating and dropped their price objective for the stock from $79.00 to $44.00 in a research report on Wednesday, January 22nd. Finally, Citigroup lowered New Oriental Education & Technology Group from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $83.00 to $50.00 in a research note on Friday, January 24th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, New Oriental Education & Technology Group presently has an average rating of “Hold” and a consensus target price of $61.20.

New Oriental Education & Technology Group Stock Up 6.6 %

Shares of New Oriental Education & Technology Group stock opened at $49.05 on Wednesday. New Oriental Education & Technology Group has a 12-month low of $44.46 and a 12-month high of $97.31. The company has a market capitalization of $8.32 billion, a price-to-earnings ratio of 20.87 and a beta of 0.47. The firm’s 50-day moving average price is $54.27 and its two-hundred day moving average price is $60.55.

Institutional Investors Weigh In On New Oriental Education & Technology Group

Several hedge funds have recently modified their holdings of EDU. Aspex Management HK Ltd raised its position in New Oriental Education & Technology Group by 56.8% in the fourth quarter. Aspex Management HK Ltd now owns 7,454,906 shares of the company’s stock valued at $478,456,000 after purchasing an additional 2,701,566 shares during the last quarter. Price T Rowe Associates Inc. MD increased its stake in shares of New Oriental Education & Technology Group by 61.3% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 3,894,541 shares of the company’s stock valued at $249,952,000 after buying an additional 1,480,391 shares during the period. JPMorgan Chase & Co. raised its holdings in New Oriental Education & Technology Group by 175.4% in the 4th quarter. JPMorgan Chase & Co. now owns 2,276,762 shares of the company’s stock valued at $146,123,000 after buying an additional 1,449,979 shares during the last quarter. Norges Bank acquired a new stake in New Oriental Education & Technology Group during the 4th quarter worth approximately $92,345,000. Finally, FMR LLC boosted its position 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.

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.