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

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

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on EDU shares. Citigroup lowered New Oriental Education & Technology Group from a “buy” rating to a “neutral” rating and cut their price objective for the company from $83.00 to $50.00 in a research report on Friday, January 24th. StockNews.com lowered New Oriental Education & Technology Group from a “buy” rating to a “hold” rating in a research report on Thursday, March 13th. JPMorgan Chase & Co. lowered New Oriental Education & Technology Group from an “overweight” rating to a “neutral” rating and cut their price objective for the company from $85.00 to $50.00 in a research report on Wednesday, January 22nd. Morgan Stanley lowered New Oriental Education & Technology Group from an “overweight” rating to an “equal weight” rating and cut their price objective for the company from $83.00 to $52.00 in a research report on Wednesday, January 22nd. Finally, Macquarie lowered New Oriental Education & Technology Group from an “outperform” rating to an “underperform” rating and cut their price objective for the company from $79.00 to $44.00 in a research report on Wednesday, January 22nd. One research analyst has rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $61.20.

New Oriental Education & Technology Group Price Performance

The company has a market cap of $8.90 billion, a PE ratio of 22.30 and a beta of 0.47. The company has a 50-day moving average of $51.71 and a 200 day moving average of $59.45.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. GeoWealth Management LLC boosted its position in shares of New Oriental Education & Technology Group by 258.5% during the fourth quarter. GeoWealth Management LLC now owns 441 shares of the company’s stock valued at $28,000 after buying an additional 318 shares during the period. Westpac Banking Corp purchased a new position in shares of New Oriental Education & Technology Group during the fourth quarter valued at approximately $45,000. SBI Securities Co. Ltd. purchased a new position in shares of New Oriental Education & Technology Group during the fourth quarter valued at approximately $51,000. Natixis boosted its position in shares of New Oriental Education & Technology Group by 39.2% during the fourth quarter. Natixis now owns 881 shares of the company’s stock valued at $57,000 after buying an additional 248 shares during the period. Finally, BNP Paribas purchased a new position in shares of New Oriental Education & Technology Group during the fourth quarter valued at approximately $113,000.

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.