Zacks Research Downgrades New Oriental Education & Technology Group (NYSE:EDU) to Hold

New Oriental Education & Technology Group (NYSE:EDU) was downgraded by analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a research note issued on Monday,Zacks.com reports.

Several other equities analysts have also recently issued reports on the stock. HSBC upgraded shares of New Oriental Education & Technology Group from a “hold” rating to a “buy” rating in a research note on Wednesday, January 28th. New Street Research set a $68.00 target price on shares of New Oriental Education & Technology Group in a report on Wednesday, January 28th. Wall Street Zen upgraded shares of New Oriental Education & Technology Group from a “hold” rating to a “buy” rating in a research note on Saturday, January 31st. Weiss Ratings reissued a “hold (c+)” rating on shares of New Oriental Education & Technology Group in a report on Monday, December 29th. Finally, China Renaissance raised New Oriental Education & Technology Group from a “hold” rating to a “strong-buy” rating in a report on Thursday, January 29th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $65.84.

New Oriental Education & Technology Group Price Performance

Shares of NYSE:EDU opened at $56.69 on Monday. New Oriental Education & Technology Group has a 1 year low of $40.66 and a 1 year high of $64.97. The company has a market cap of $8.96 billion, a P/E ratio of 24.02, a PEG ratio of 0.94 and a beta of 0.28. The stock’s fifty day moving average price is $57.18 and its 200-day moving average price is $55.61.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Caitong International Asset Management Co. Ltd grew its stake in shares of New Oriental Education & Technology Group by 7,314.3% during the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 519 shares of the company’s stock valued at $28,000 after acquiring an additional 512 shares during the period. Atlas Capital Advisors Inc. bought a new stake in New Oriental Education & Technology Group during the 4th quarter worth approximately $72,000. Raymond James Financial Inc. bought a new stake in New Oriental Education & Technology Group during the 2nd quarter worth approximately $111,000. Leonteq Securities AG purchased a new position in New Oriental Education & Technology Group during the fourth quarter valued at approximately $155,000. Finally, Hantz Financial Services Inc. lifted its holdings in New Oriental Education & Technology Group by 275.1% during the third quarter. Hantz Financial Services Inc. now owns 3,395 shares of the company’s stock valued at $180,000 after purchasing an additional 2,490 shares in the last quarter.

New Oriental Education & Technology Group Company Profile

New Oriental Education & Technology Group (NYSE: EDU) is one of China’s leading providers of private educational services, specializing in language training, test preparation and consulting for overseas study. The company’s offerings span a range of subjects, including English language instruction, preparatory courses for examinations such as the TOEFL, GRE and GMAT, and K-12 after-school tutoring. New Oriental’s curriculum is delivered through a combination of in-person learning centers and digital platforms, enabling students across various regions to access its educational resources.

Founded in 1993 by Michael Yu Minhong in Beijing, New Oriental began as a small language school and quickly expanded its footprint.