New Oriental Education & Technology Group (NYSE:EDU) Stock Rating Upgraded by Zacks Research

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

Other analysts have also issued reports about the stock. Citigroup cut their price target on shares of New Oriental Education & Technology Group from $77.00 to $75.00 and set a “buy” rating for the company in a research report on Tuesday, September 9th. Bank of America increased their target price on New Oriental Education & Technology Group from $56.20 to $58.20 and gave the company a “buy” rating in a report on Monday, September 29th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of New Oriental Education & Technology Group in a research note on Monday. JPMorgan Chase & Co. boosted their price objective on New Oriental Education & Technology Group from $60.00 to $68.00 and gave the company an “overweight” rating in a research report on Wednesday, October 29th. Finally, The Goldman Sachs Group reissued a “neutral” rating and set a $60.00 price objective on shares of New Oriental Education & Technology Group in a research note on Wednesday, October 29th. Three equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, New Oriental Education & Technology Group presently has a consensus rating of “Hold” and an average price target of $59.53.

New Oriental Education & Technology Group Stock Performance

Shares of New Oriental Education & Technology Group stock opened at $55.59 on Monday. New Oriental Education & Technology Group has a 52-week low of $40.66 and a 52-week high of $64.38. The company has a fifty day moving average of $54.87 and a 200-day moving average of $51.94. The stock has a market capitalization of $8.78 billion, a price-to-earnings ratio of 24.49, a price-to-earnings-growth ratio of 1.30 and a beta of 0.32.

Institutional Trading of New Oriental Education & Technology Group

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Alkeon Capital Management LLC lifted its holdings in New Oriental Education & Technology Group by 101.3% in the second quarter. Alkeon Capital Management LLC now owns 2,193,486 shares of the company’s stock worth $118,339,000 after buying an additional 1,104,000 shares during the period. Yiheng Capital Management L.P. raised its position in shares of New Oriental Education & Technology Group by 15.4% in the 1st quarter. Yiheng Capital Management L.P. now owns 598,080 shares of the company’s stock worth $28,594,000 after acquiring an additional 79,766 shares in the last quarter. Jump Financial LLC raised its position in shares of New Oriental Education & Technology Group by 64.5% in the 2nd quarter. Jump Financial LLC now owns 171,108 shares of the company’s stock worth $9,231,000 after acquiring an additional 67,108 shares in the last quarter. Campbell & CO Investment Adviser LLC purchased a new position in shares of New Oriental Education & Technology Group in the 2nd quarter valued at approximately $621,000. Finally, MY.Alpha Management HK Advisors Ltd bought a new stake in shares of New Oriental Education & Technology Group during the second quarter valued at approximately $6,431,000.

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.