New Oriental Education & Technology Group (NYSE:EDU) Stock Rating Lowered by 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 issued to investors on Monday, MarketBeat reports.

A number of other research analysts have also recently issued reports on the stock. Morgan Stanley cut shares of New Oriental Education & Technology Group from an “overweight” rating to an “equal weight” rating and reduced their price objective for the company from $83.00 to $52.00 in a report on Wednesday, January 22nd. Citigroup downgraded New Oriental Education & Technology Group from a “buy” rating to a “neutral” rating and cut their price target for the company from $83.00 to $50.00 in a research note on Friday, January 24th. StockNews.com lowered New Oriental Education & Technology Group from a “buy” rating to a “hold” rating in a report on Thursday, March 13th. JPMorgan Chase & Co. lowered New Oriental Education & Technology Group from an “overweight” rating to a “neutral” rating and dropped their target price for the company from $85.00 to $50.00 in a report on Wednesday, January 22nd. Finally, Macquarie downgraded New Oriental Education & Technology Group from an “outperform” rating to an “underperform” rating and decreased their price target for the stock from $79.00 to $44.00 in a report on Wednesday, January 22nd. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $61.20.

New Oriental Education & Technology Group Trading Down 5.4 %

NYSE EDU opened at $47.49 on Monday. The company has a market cap of $8.06 billion, a P/E ratio of 20.21 and a beta of 0.47. The company has a fifty day simple moving average of $50.57 and a 200 day simple moving average of $59.10. New Oriental Education & Technology Group has a 12-month low of $44.46 and a 12-month high of $92.50.

Hedge Funds Weigh In On New Oriental Education & Technology Group

Several hedge funds have recently modified their holdings of EDU. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of New Oriental Education & Technology Group by 14.2% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,658 shares of the company’s stock valued at $126,000 after acquiring an additional 206 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its stake in New Oriental Education & Technology Group by 1.2% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 21,457 shares of the company’s stock valued at $1,377,000 after purchasing an additional 247 shares during the period. Natixis increased its position in shares of New Oriental Education & Technology Group by 39.2% during the 4th quarter. Natixis now owns 881 shares of the company’s stock valued at $57,000 after purchasing an additional 248 shares during the last quarter. GeoWealth Management LLC raised its stake in shares of New Oriental Education & Technology Group by 258.5% during the 4th 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 purchased a new position in shares of New Oriental Education & Technology Group in the 4th quarter worth about $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.