Brokerages Set New Oriental Education & Technology Group Inc. (NYSE:EDU) Price Target at $17.23

New Oriental Education & Technology Group Inc. (NYSE:EDU) has been given an average recommendation of “Hold” by the fifteen ratings firms that are presently covering the firm, Marketbeat.com reports. Three investment analysts have rated the stock with a sell recommendation, eight have given a hold recommendation and one has issued a buy recommendation on the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $17.23.

Separately, Zacks Investment Research cut shares of New Oriental Education & Technology Group from a “hold” rating to a “sell” rating in a research note on Wednesday, January 5th.

New Oriental Education & Technology Group stock opened at $1.81 on Wednesday. The firm’s 50 day simple moving average is $2.07 and its 200 day simple moving average is $2.75. The firm has a market capitalization of $3.07 billion, a PE ratio of 8.96 and a beta of 0.87. New Oriental Education & Technology Group has a 1-year low of $1.68 and a 1-year high of $19.97.

A number of hedge funds have recently made changes to their positions in EDU. Morgan Stanley boosted its holdings in shares of New Oriental Education & Technology Group by 196.3% during the 3rd quarter. Morgan Stanley now owns 54,714,708 shares of the company’s stock valued at $112,165,000 after acquiring an additional 36,248,561 shares during the last quarter. Carmignac Gestion boosted its holdings in shares of New Oriental Education & Technology Group by 294.9% in the third quarter. Carmignac Gestion now owns 39,165,819 shares of the company’s stock worth $80,212,000 after buying an additional 29,247,393 shares during the last quarter. Two Sigma Investments LP boosted its holdings in shares of New Oriental Education & Technology Group by 626.4% in the third quarter. Two Sigma Investments LP now owns 30,108,015 shares of the company’s stock worth $61,721,000 after buying an additional 25,962,977 shares during the last quarter. Two Sigma Advisers LP raised its position in shares of New Oriental Education & Technology Group by 2,189.1% during the third quarter. Two Sigma Advisers LP now owns 24,157,200 shares of the company’s stock valued at $49,522,000 after buying an additional 23,101,900 shares during the last quarter. Finally, Brilliance Asset Management Ltd. purchased a new position in shares of New Oriental Education & Technology Group in the 2nd quarter worth $165,470,000. 52.69% of the stock is currently owned by institutional investors.

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: K-12 AST, Test Preparation and Other Courses; Online Education; and Others. The company was founded by Min Hong Yu and Yong Qiang Qian on November 16, 1993 and is headquartered in Beijing, China.

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Analyst Recommendations for New Oriental Education & Technology Group (NYSE:EDU)

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