Noah (NYSE:NOAH) Downgraded to Hold at Zacks Investment Research

Noah (NYSE:NOAHGet Rating) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Tuesday, Zacks.com reports.

According to Zacks, “Noah Holdings Ltd through its subsidiaries is engaged in providing independent services primarily comprising of distribution of wealth management products to the high net worth population in China. It distributes over-the-counter wealth management products originated in China which mainly includes fixed income products, private equity funds and securities investment funds. The Company also delivers to its clients a continuum of value-added services including financial planning, product analysis and recommendation, product and market updates and investor education. Noah Holdings Ltd is headquartered in Shenzhen, the Peoples’ Republic of China. “

A number of other research firms have also recently issued reports on NOAH. Bank of America lowered their target price on Noah from $51.50 to $35.00 and set a “buy” rating for the company in a report on Wednesday, March 16th. StockNews.com upgraded Noah from a “hold” rating to a “buy” rating in a report on Tuesday, May 10th. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, Noah currently has an average rating of “Buy” and an average target price of $45.81.

NOAH opened at $15.47 on Tuesday. Noah has a 12 month low of $15.06 and a 12 month high of $49.88. The company has a fifty day simple moving average of $21.54 and a 200 day simple moving average of $29.23. The stock has a market cap of $930.68 million, a P/E ratio of 5.75, a P/E/G ratio of 0.45 and a beta of 1.34.

Institutional investors have recently bought and sold shares of the company. Russell Investments Group Ltd. boosted its stake in shares of Noah by 300.9% during the 4th quarter. Russell Investments Group Ltd. now owns 57,731 shares of the asset manager’s stock worth $1,767,000 after buying an additional 43,329 shares during the last quarter. Barclays PLC boosted its stake in shares of Noah by 186.4% during the 3rd quarter. Barclays PLC now owns 203,287 shares of the asset manager’s stock worth $7,548,000 after buying an additional 132,312 shares during the last quarter. KBC Group NV boosted its stake in shares of Noah by 7.1% during the 3rd quarter. KBC Group NV now owns 95,558 shares of the asset manager’s stock worth $3,548,000 after buying an additional 6,356 shares during the last quarter. Hsbc Holdings PLC boosted its stake in shares of Noah by 158.6% during the 3rd quarter. Hsbc Holdings PLC now owns 76,897 shares of the asset manager’s stock worth $2,853,000 after buying an additional 47,162 shares during the last quarter. Finally, FIL Ltd lifted its stake in Noah by 0.8% in the 3rd quarter. FIL Ltd now owns 4,551,130 shares of the asset manager’s stock valued at $168,983,000 after purchasing an additional 33,938 shares during the last quarter. Institutional investors own 64.19% of the company’s stock.

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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