New Oriental Education & Technology Group (NYSE:EDU) Shares Gap Up – Here’s Why

New Oriental Education & Technology Group Inc. (NYSE:EDUGet Free Report)’s stock price gapped up before the market opened on Friday . The stock had previously closed at $48.04, but opened at $51.14. New Oriental Education & Technology Group shares last traded at $50.50, with a volume of 355,338 shares.

Wall Street Analysts Forecast Growth

EDU has been the topic of a number of research analyst reports. Citigroup lowered New Oriental Education & Technology Group from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $83.00 to $50.00 in a report on Friday, January 24th. JPMorgan Chase & Co. cut New Oriental Education & Technology Group from an “overweight” rating to a “neutral” rating and dropped their price target for the stock from $85.00 to $50.00 in a research note on Wednesday, January 22nd. StockNews.com cut New Oriental Education & Technology Group from a “buy” rating to a “hold” rating in a research note on Thursday. Morgan Stanley cut New Oriental Education & Technology Group from an “overweight” rating to an “equal weight” rating and dropped their price target for the stock from $83.00 to $52.00 in a research note on Wednesday, January 22nd. Finally, Macquarie cut New Oriental Education & Technology Group from an “outperform” rating to an “underperform” rating and dropped their price target for the stock from $79.00 to $44.00 in a research note 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. Based on data from MarketBeat.com, New Oriental Education & Technology Group has an average rating of “Hold” and a consensus price target of $61.20.

View Our Latest Stock Report on EDU

New Oriental Education & Technology Group Trading Up 5.6 %

The firm has a market capitalization of $8.61 billion, a price-to-earnings ratio of 21.59 and a beta of 0.47. The company has a fifty day moving average price of $51.94 and a 200-day moving average price of $59.55.

Institutional Investors Weigh In On New Oriental Education & Technology Group

Institutional investors have recently made changes to their positions in the company. Oppenheimer Asset Management Inc. acquired a new stake in New Oriental Education & Technology Group in the 3rd quarter worth approximately $297,000. B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in New Oriental Education & Technology Group in the 3rd quarter worth approximately $316,000. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in New Oriental Education & Technology Group in the 3rd quarter worth approximately $1,609,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its holdings in New Oriental Education & Technology Group by 3.4% in the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 592,564 shares of the company’s stock worth $44,940,000 after purchasing an additional 19,401 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA lifted its holdings in New Oriental Education & Technology Group by 12.9% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 99,858 shares of the company’s stock worth $7,573,000 after purchasing an additional 11,423 shares during the last quarter.

About New Oriental Education & Technology Group

(Get Free Report)

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.

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