New Oriental Education & Technology Group (NYSE:EDU) Downgraded to “Hold” Rating by Wall Street Zen

Wall Street Zen cut shares of New Oriental Education & Technology Group (NYSE:EDU) from a buy rating to a hold rating in a report released on Saturday.

A number of other equities analysts also recently commented on the company. The Goldman Sachs Group upgraded New Oriental Education & Technology Group from a “neutral” rating to a “buy” rating and reduced their price objective for the stock from $67.00 to $65.00 in a research report on Thursday, June 11th. Weiss Ratings restated a “hold (c)” rating on shares of New Oriental Education & Technology Group in a report on Tuesday, July 21st. Finally, New Street Research set a $56.50 price target on New Oriental Education & Technology Group in a report on Thursday. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $64.54.

New Oriental Education & Technology Group Price Performance

Shares of New Oriental Education & Technology Group stock opened at $58.89 on Friday. The stock has a market cap of $9.31 billion, a P/E ratio of 19.89, a P/E/G ratio of 0.62 and a beta of 0.19. The stock’s 50 day simple moving average is $47.87 and its 200-day simple moving average is $53.14. New Oriental Education & Technology Group has a 1-year low of $43.27 and a 1-year high of $64.97.

Institutional Investors Weigh In On New Oriental Education & Technology Group

Large investors have recently bought and sold shares of the stock. Invesco Ltd. boosted its stake in shares of New Oriental Education & Technology Group by 5,697.3% in the 4th quarter. Invesco Ltd. now owns 4,610,905 shares of the company’s stock valued at $253,738,000 after buying an additional 4,531,370 shares during the period. Discerene Group LP increased its stake in shares of New Oriental Education & Technology Group by 23.7% during the fourth quarter. Discerene Group LP now owns 1,955,430 shares of the company’s stock worth $107,607,000 after buying an additional 374,916 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new stake in shares of New Oriental Education & Technology Group during the fourth quarter worth approximately $86,526,000. Orbis Allan Gray Ltd raised its holdings in New Oriental Education & Technology Group by 40.2% in the fourth quarter. Orbis Allan Gray Ltd now owns 837,551 shares of the company’s stock valued at $46,090,000 after acquiring an additional 240,053 shares in the last quarter. Finally, Federated Hermes Inc. raised its holdings in New Oriental Education & Technology Group by 13,865.2% in the fourth quarter. Federated Hermes Inc. now owns 742,249 shares of the company’s stock valued at $40,846,000 after acquiring an additional 736,934 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.