Zacks Research Upgrades New Oriental Education & Technology Group (NYSE:EDU) to “Hold”

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

EDU has been the subject of several other reports. JPMorgan Chase & Co. lifted their target price on New Oriental Education & Technology Group from $60.00 to $68.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 29th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of New Oriental Education & Technology Group in a research note on Monday. The Goldman Sachs Group reissued a “neutral” rating and issued a $60.00 price objective on shares of New Oriental Education & Technology Group in a research report on Wednesday, October 29th. Citigroup dropped their target price on shares of New Oriental Education & Technology Group from $77.00 to $75.00 and set a “buy” rating on the stock in a research note on Tuesday, September 9th. Finally, Bank of America lifted their price target on shares of New Oriental Education & Technology Group from $56.20 to $58.20 and gave the company a “buy” rating in a research note on Monday, September 29th. Three analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, New Oriental Education & Technology Group currently has an average rating of “Hold” and an average target price of $59.53.

New Oriental Education & Technology Group Stock Performance

Shares of EDU stock opened at $55.59 on Monday. The stock has a 50 day moving average price of $54.87 and a 200 day moving average price of $51.94. New Oriental Education & Technology Group has a 52-week low of $40.66 and a 52-week high of $64.38. The firm has a market capitalization of $8.78 billion, a P/E ratio of 24.49, a P/E/G ratio of 1.30 and a beta of 0.32.

Hedge Funds Weigh In On New Oriental Education & Technology Group

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Caitong International Asset Management Co. Ltd raised its holdings in 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 purchasing an additional 512 shares in the last quarter. Bessemer Group Inc. bought a new stake in shares of New Oriental Education & Technology Group in the 2nd quarter valued at about $37,000. Hantz Financial Services Inc. grew its position in shares of New Oriental Education & Technology Group by 738.0% in the 2nd quarter. Hantz Financial Services Inc. now owns 905 shares of the company’s stock worth $49,000 after buying an additional 797 shares during the last quarter. Raymond James Financial Inc. bought a new position in shares of New Oriental Education & Technology Group during the 2nd quarter worth approximately $111,000. Finally, Quantbot Technologies LP lifted its position in New Oriental Education & Technology Group by 309.7% during the third quarter. Quantbot Technologies LP now owns 3,532 shares of the company’s stock valued at $187,000 after acquiring an additional 2,670 shares during the last quarter.

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.