New Oriental Education & Technology Group (NYSE:EDU) Cut to “Hold” at Wall Street Zen

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

Several other research analysts also recently issued reports on the company. The Goldman Sachs Group raised New Oriental Education & Technology Group from a “neutral” rating to a “buy” rating and lowered their price objective for the company from $67.00 to $65.00 in a research note on Thursday, June 11th. Weiss Ratings reiterated a “hold (c)” rating on shares of New Oriental Education & Technology Group in a research report on Tuesday, July 21st. Finally, New Street Research set a $56.50 target price on shares of New Oriental Education & Technology Group in a report on Thursday. One equities research 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. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $64.54.

New Oriental Education & Technology Group Trading Up 0.4%

New Oriental Education & Technology Group stock opened at $59.11 on Friday. The company has a market capitalization of $9.34 billion, a PE ratio of 19.97, a P/E/G ratio of 0.62 and a beta of 0.24. New Oriental Education & Technology Group has a 12 month low of $44.25 and a 12 month high of $64.97. The stock has a 50-day moving average price of $48.12 and a two-hundred day moving average price of $53.10.

Insider Transactions at New Oriental Education & Technology Group

In other New Oriental Education & Technology Group news, Director Yue Zhuge sold 1,600 shares of New Oriental Education & Technology Group stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of $59.55, for a total transaction of $95,280.00. Following the transaction, the director directly owned 2,000 shares of the company’s stock, valued at approximately $119,100. The trade was a 44.44% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 15.50% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On New Oriental Education & Technology Group

A number of institutional investors have recently made changes to their positions in the stock. Amundi raised its position in shares of New Oriental Education & Technology Group by 14.4% during the first quarter. Amundi now owns 507,774 shares of the company’s stock worth $28,755,000 after acquiring an additional 63,845 shares during the last quarter. EverSource Wealth Advisors LLC lifted its stake in shares of New Oriental Education & Technology Group by 106.9% in the first quarter. EverSource Wealth Advisors LLC now owns 540 shares of the company’s stock worth $31,000 after acquiring an additional 279 shares during the period. Quantinno Capital Management LP boosted its holdings in New Oriental Education & Technology Group by 27.9% in the first quarter. Quantinno Capital Management LP now owns 48,862 shares of the company’s stock valued at $2,767,000 after acquiring an additional 10,669 shares during the last quarter. Lazard Asset Management LLC bought a new stake in New Oriental Education & Technology Group in the first quarter valued at approximately $18,528,000. Finally, Arrowstreet Capital Limited Partnership acquired a new stake in New Oriental Education & Technology Group during the 1st quarter valued at approximately $209,000.

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.