Noah (NYSE:NOAH) Upgraded by Wall Street Zen to Buy Rating

Wall Street Zen upgraded shares of Noah (NYSE:NOAH) from a hold rating to a buy rating in a research report sent to investors on Saturday morning.

Several other equities research analysts have also recently weighed in on NOAH. Weiss Ratings reissued a “hold (c-)” rating on shares of Noah in a research note on Monday, December 29th. UBS Group reduced their target price on Noah from $11.00 to $10.00 and set a “neutral” rating on the stock in a report on Monday, December 22nd. One analyst has rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $10.75.

Noah Stock Performance

NOAH stock opened at $10.65 on Friday. The company has a fifty day moving average price of $10.52 and a 200-day moving average price of $11.42. The company has a market capitalization of $705.02 million, a P/E ratio of 8.26 and a beta of 0.72. Noah has a 52-week low of $7.67 and a 52-week high of $12.84.

Noah (NYSE:NOAH) last issued its quarterly earnings data on Tuesday, November 25th. The asset manager reported $0.46 earnings per share for the quarter. The company had revenue of $88.90 million for the quarter, compared to analysts’ expectations of $92.22 million. Noah had a net margin of 25.99% and a return on equity of 7.23%. As a group, sell-side analysts forecast that Noah will post 0.93 earnings per share for the current fiscal year.

Institutional Trading of Noah

Several hedge funds have recently modified their holdings of the stock. Acadian Asset Management LLC boosted its position in shares of Noah by 61.9% during the 1st quarter. Acadian Asset Management LLC now owns 696,967 shares of the asset manager’s stock worth $6,563,000 after purchasing an additional 266,602 shares in the last quarter. Y Intercept Hong Kong Ltd acquired a new position in Noah during the 2nd quarter worth approximately $413,000. Nuveen LLC acquired a new position in Noah during the 1st quarter worth approximately $350,000. First Beijing Investment Ltd boosted its holdings in Noah by 19.5% in the first quarter. First Beijing Investment Ltd now owns 163,443 shares of the asset manager’s stock worth $1,545,000 after acquiring an additional 26,710 shares in the last quarter. Finally, Everstar Asset Management LLC acquired a new stake in Noah in the first quarter valued at approximately $217,000. Institutional investors own 42.67% of the company’s stock.

Noah Company Profile

Noah Holdings Limited is a China-based wealth management and asset management firm specializing in tailored advisory services for high-net-worth individuals, family offices and select institutional clients. The company offers a broad range of investment solutions that draw on its deep market research and partner network to provide access to both onshore and offshore products. Noah’s business model centers on delivering structured investment products, portfolio management services and family wealth planning solutions designed to meet the evolving needs of affluent clients in China and beyond.

Noah’s main service lines include discretionary portfolio management, fund distribution, private equity and venture capital fund platforms, and alternative investment strategies such as real estate and insurance-linked products.