New Oriental Education & Technology Group (NYSE:EDU) Stock Price Up 4.6% – Still a Buy?

New Oriental Education & Technology Group Inc. (NYSE:EDU)’s share price rose 4.6% during trading on Tuesday . The stock traded as high as $51.88 and last traded at $52.28. Approximately 762,220 shares traded hands during trading, a decline of 64% from the average daily volume of 2,130,223 shares. The stock had previously closed at $50.00.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the company. JPMorgan Chase & Co. lowered New Oriental Education & Technology Group from an “overweight” rating to a “neutral” rating and lowered their price objective for the stock from $85.00 to $50.00 in a research report on Wednesday, January 22nd. Macquarie lowered shares of New Oriental Education & Technology Group from an “outperform” rating to an “underperform” rating and dropped their price target for the company from $79.00 to $44.00 in a research report on Wednesday, January 22nd. Morgan Stanley lowered shares of New Oriental Education & Technology Group from an “overweight” rating to an “equal weight” rating and lowered their target price for the stock from $83.00 to $52.00 in a research note on Wednesday, January 22nd. StockNews.com upgraded New Oriental Education & Technology Group from a “sell” rating to a “hold” rating in a research report on Thursday, October 24th. Finally, Citigroup cut New Oriental Education & Technology Group from a “buy” rating to a “neutral” rating and dropped their target price for the company from $83.00 to $50.00 in a research report on Friday, January 24th. One research analyst has rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $61.20.

New Oriental Education & Technology Group Trading Up 7.9 %

The company has a market capitalization of $9.16 billion, a price-to-earnings ratio of 22.98 and a beta of 0.42. The company has a fifty day moving average of $57.93 and a 200-day moving average of $62.49.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Aspex Management HK Ltd lifted its position in New Oriental Education & Technology Group by 46.7% during the third quarter. Aspex Management HK Ltd now owns 4,753,340 shares of the company’s stock worth $360,493,000 after buying an additional 1,513,640 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of New Oriental Education & Technology Group by 20,215.2% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 994,431 shares of the company’s stock valued at $75,418,000 after acquiring an additional 989,536 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in shares of New Oriental Education & Technology Group by 192.2% in the third quarter. JPMorgan Chase & Co. now owns 826,783 shares of the company’s stock valued at $62,703,000 after purchasing an additional 543,810 shares during the period. Panview Capital Ltd purchased a new stake in shares of New Oriental Education & Technology Group during the 4th quarter valued at approximately $27,358,000. Finally, Public Employees Retirement System of Ohio acquired a new position in shares of New Oriental Education & Technology Group in the 3rd quarter valued at $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.