Puxin (NYSE:NEW) Cut to “Neutral” at Goldman Sachs Group

Goldman Sachs Group downgraded shares of Puxin (NYSE:NEW) from a buy rating to a neutral rating in a research note published on Tuesday, May 7th, Benzinga reports. The brokerage currently has $28.43 target price on the stock.

Separately, DA Davidson upgraded Puxin from a neutral rating to a buy rating in a report on Thursday, May 2nd.

NEW traded up $0.19 on Tuesday, hitting $6.46. 244,100 shares of the company traded hands, compared to its average volume of 203,411. Puxin has a 12-month low of $5.00 and a 12-month high of $35.00. The company has a quick ratio of 0.39, a current ratio of 0.40 and a debt-to-equity ratio of 1.43.

Puxin (NYSE:NEW) last issued its earnings results on Monday, May 20th. The company reported ($0.30) earnings per share (EPS) for the quarter. The business had revenue of $91.74 million for the quarter. Puxin had a negative return on equity of 89.64% and a negative net margin of 31.06%.

A number of large investors have recently made changes to their positions in the business. TB Alternative Assets Ltd. acquired a new stake in Puxin during the 4th quarter valued at $17,609,000. Morgan Stanley grew its holdings in Puxin by 2.2% during the 1st quarter. Morgan Stanley now owns 880,576 shares of the company’s stock valued at $6,102,000 after buying an additional 19,324 shares during the last quarter. Hillhouse Capital Advisors Ltd. acquired a new stake in shares of Puxin during the fourth quarter worth $2,896,000. JPMorgan Chase & Co. acquired a new stake in shares of Puxin during the first quarter worth $281,000. Finally, Citigroup Inc. acquired a new stake in shares of Puxin during the fourth quarter worth $211,000. Hedge funds and other institutional investors own 7.80% of the company’s stock.

Puxin Company Profile

Puxin Limited, through its subsidiaries, provides after-school education services in China. It offers a range of K-12 and study-abroad tutoring programs designed to help students prepare for admission tests and applications for top schools, universities, and graduate programs in China and other countries.

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