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

China Renaissance lowered shares of New Oriental Education & Technology Group (NYSE:EDU) from a buy rating to a hold rating in a research note released on Monday, MarketBeat reports.

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

New Oriental Education & Technology Group Trading Up 1.8 %

Shares of EDU opened at $47.29 on Monday. The stock’s 50 day moving average is $50.08 and its two-hundred day moving average is $58.92. New Oriental Education & Technology Group has a twelve month low of $44.46 and a twelve month high of $91.04. The firm has a market capitalization of $8.02 billion, a PE ratio of 20.12 and a beta of 0.47.

Hedge Funds Weigh In On New Oriental Education & Technology Group

Hedge funds have recently added to or reduced their stakes in the business. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of New Oriental Education & Technology Group by 14.2% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,658 shares of the company’s stock valued at $126,000 after purchasing 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% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 21,457 shares of the company’s stock worth $1,377,000 after acquiring an additional 247 shares during the last quarter. Natixis increased its position 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 purchasing an additional 248 shares during the last quarter. GeoWealth Management LLC raised its stake 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 worth $28,000 after purchasing an additional 318 shares during the period. Finally, Westpac Banking Corp acquired a new position in shares of New Oriental Education & Technology Group in the 4th quarter valued at $45,000.

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.