Noah (NYSE:NOAH) Stock Rating Upgraded by StockNews.com

StockNews.com upgraded shares of Noah (NYSE:NOAHGet Rating) from a hold rating to a buy rating in a report issued on Saturday morning.

A number of other brokerages have also commented on NOAH. Bank of America lowered their price objective on Noah from $51.50 to $35.00 and set a buy rating for the company in a research report on Wednesday, March 16th. JPMorgan Chase & Co. raised Noah from a neutral rating to an overweight rating and set a $22.00 price target on the stock in a research report on Wednesday, June 22nd.

Shares of Noah stock opened at $20.69 on Friday. The company’s fifty day simple moving average is $17.80 and its 200-day simple moving average is $23.82. The company has a market cap of $1.24 billion, a price-to-earnings ratio of 7.69, a PEG ratio of 0.61 and a beta of 1.19. Noah has a 1 year low of $15.06 and a 1 year high of $47.92.

Noah (NYSE:NOAHGet Rating) last posted its quarterly earnings results on Wednesday, May 11th. The asset manager reported $0.73 earnings per share for the quarter. The firm had revenue of $125.52 million for the quarter. Noah had a net margin of 30.16% and a return on equity of 15.27%. On average, analysts anticipate that Noah will post 3.27 earnings per share for the current year.

A number of large investors have recently made changes to their positions in NOAH. Russell Investments Group Ltd. boosted its position in Noah by 300.9% in the fourth quarter. Russell Investments Group Ltd. now owns 57,731 shares of the asset manager’s stock valued at $1,767,000 after buying an additional 43,329 shares in the last quarter. Dodge & Cox increased its position in shares of Noah by 8.1% during the fourth quarter. Dodge & Cox now owns 20,100 shares of the asset manager’s stock worth $617,000 after acquiring an additional 1,500 shares in the last quarter. Stonnington Group LLC bought a new stake in shares of Noah during the fourth quarter worth about $1,034,000. Bridgewater Associates LP increased its position in shares of Noah by 34.3% during the fourth quarter. Bridgewater Associates LP now owns 115,851 shares of the asset manager’s stock worth $3,555,000 after acquiring an additional 29,616 shares in the last quarter. Finally, Public Sector Pension Investment Board bought a new stake in shares of Noah during the fourth quarter worth about $373,000. 64.19% of the stock is currently owned by institutional investors and hedge funds.

About Noah (Get Rating)

Noah Holdings Limited, together with its subsidiaries, operates as a wealth and asset management service provider with the focus on investment and asset allocation services for high net worth individuals and enterprises in Mainland of China, Hong Kong, and internationally. The company operates through three segments: Wealth Management, Asset Management, and Other Businesses.

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