New Oriental Education & Technology Group (NYSE:EDU) Shares Up 3.6% – Time to Buy?

Shares of New Oriental Education & Technology Group Inc. (NYSE:EDU) shot up 3.6% during mid-day trading on Tuesday . The company traded as high as $53.35 and last traded at $52.62. 500,207 shares changed hands during mid-day trading, a decline of 71% from the average session volume of 1,745,364 shares. The stock had previously closed at $50.80.

Analyst Upgrades and Downgrades

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

New Oriental Education & Technology Group Stock Performance

The stock has a fifty day moving average of $51.71 and a 200 day moving average of $59.45. The company has a market capitalization of $8.90 billion, a P/E ratio of 22.30 and a beta of 0.47.

Institutional Investors Weigh In On New Oriental Education & Technology Group

Institutional investors and hedge funds have recently bought and sold shares of the business. JPMorgan Chase & Co. raised its holdings in New Oriental Education & Technology Group by 192.2% during the third quarter. JPMorgan Chase & Co. now owns 826,783 shares of the company’s stock valued at $62,703,000 after acquiring an additional 543,810 shares during the period. Monolith Management Ltd bought a new stake in New Oriental Education & Technology Group during the third quarter valued at about $15,168,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its holdings in New Oriental Education & Technology Group by 3.4% during the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 592,564 shares of the company’s stock valued at $44,940,000 after acquiring an additional 19,401 shares during the period. Massachusetts Financial Services Co. MA raised its holdings in New Oriental Education & Technology Group by 12.9% during the third quarter. Massachusetts Financial Services Co. MA now owns 99,858 shares of the company’s stock valued at $7,573,000 after acquiring an additional 11,423 shares during the period. Finally, Public Employees Retirement System of Ohio bought a new stake in New Oriental Education & Technology Group during the third quarter valued at about $27,425,000.

New Oriental Education & Technology Group Company Profile

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.