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

New Oriental Education & Technology Group (NYSE:EDU) was upgraded by equities researchers at StockNews.com from a “hold” rating to a “buy” rating in a research report issued on Wednesday.

Several other analysts have also recently weighed in on EDU. JPMorgan Chase & Co. cut New Oriental Education & Technology Group from an “overweight” rating to a “neutral” rating and dropped their price target for the stock from $85.00 to $50.00 in a report on Wednesday, January 22nd. Morgan Stanley lowered shares of New Oriental Education & Technology Group from an “overweight” rating to an “equal weight” rating and lowered their price target for the stock from $83.00 to $52.00 in a research report on Wednesday, January 22nd. Macquarie downgraded shares of New Oriental Education & Technology Group from an “outperform” rating to an “underperform” rating and cut their price objective for the company from $79.00 to $44.00 in a report on Wednesday, January 22nd. Finally, Citigroup lowered shares of New Oriental Education & Technology Group from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $83.00 to $50.00 in a research report on Friday, January 24th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $61.20.

New Oriental Education & Technology Group Trading Down 0.8 %

EDU stock opened at $48.59 on Wednesday. New Oriental Education & Technology Group has a 1-year low of $44.46 and a 1-year high of $95.88. The firm has a market capitalization of $8.25 billion, a PE ratio of 20.68 and a beta of 0.47. The business’s 50 day simple moving average is $53.98 and its 200 day simple moving average is $60.47.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Aspex Management HK Ltd increased its holdings in New Oriental Education & Technology Group by 56.8% in the 4th quarter. Aspex Management HK Ltd now owns 7,454,906 shares of the company’s stock worth $478,456,000 after acquiring an additional 2,701,566 shares during the last quarter. Price T Rowe Associates Inc. MD grew its stake in New Oriental Education & Technology Group by 61.3% in the 4th 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 in the last quarter. JPMorgan Chase & Co. increased its holdings in New Oriental Education & Technology Group by 175.4% during the 4th quarter. JPMorgan Chase & Co. now owns 2,276,762 shares of the company’s stock worth $146,123,000 after acquiring an additional 1,449,979 shares during the period. Norges Bank purchased a new position in shares of New Oriental Education & Technology Group during the 4th quarter valued at $92,345,000. Finally, FMR LLC raised its position in shares of New Oriental Education & Technology Group by 46.3% in the fourth 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 in the last quarter.

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.