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

Zacks Research downgraded shares of New Oriental Education & Technology Group (NYSE:EDU) from a strong-buy rating to a hold rating in a research report released on Monday morning,Zacks.com reports.

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

New Oriental Education & Technology Group Stock Up 0.7%

EDU opened at $57.01 on Monday. The firm has a market cap of $9.01 billion, a P/E ratio of 24.15, a PEG ratio of 0.97 and a beta of 0.32. The business’s fifty day simple moving average is $57.22 and its 200 day simple moving average is $55.62. New Oriental Education & Technology Group has a 52 week low of $40.66 and a 52 week high of $64.97.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Caitong International Asset Management Co. Ltd boosted its position in shares of New Oriental Education & Technology Group by 7,314.3% in the third quarter. Caitong International Asset Management Co. Ltd now owns 519 shares of the company’s stock worth $28,000 after acquiring an additional 512 shares during the last quarter. Atlas Capital Advisors Inc. acquired a new position in New Oriental Education & Technology Group during the fourth quarter worth approximately $72,000. Raymond James Financial Inc. acquired a new position in New Oriental Education & Technology Group during the second quarter worth approximately $111,000. Leonteq Securities AG purchased a new position in New Oriental Education & Technology Group during the fourth quarter worth approximately $155,000. Finally, Hantz Financial Services Inc. raised its stake 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 worth $180,000 after purchasing an additional 2,490 shares during the period.

About New Oriental Education & Technology Group

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.