Noah (NYSE:NOAH) Rating Increased to Buy at UBS Group

Noah (NYSE:NOAH) was upgraded by research analysts at UBS Group from a “neutral” rating to a “buy” rating in a report issued on Monday, MarketBeat Ratings reports. The firm currently has a $18.00 price objective on the asset manager’s stock, up from their previous price objective of $16.30. UBS Group’s price target would indicate a potential upside of 38.57% from the stock’s previous close.

NOAH has been the topic of a number of other research reports. StockNews.com lowered shares of Noah from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 7th. JPMorgan Chase & Co. raised shares of Noah from a “neutral” rating to an “overweight” rating and set a $18.00 price target for the company in a research note on Tuesday, August 29th.

Noah Price Performance

Shares of NYSE:NOAH opened at $12.99 on Monday. The company’s 50-day moving average price is $12.21 and its two-hundred day moving average price is $13.81. Noah has a one year low of $10.88 and a one year high of $21.53. The stock has a market capitalization of $829.93 million, a PE ratio of 7.22, a price-to-earnings-growth ratio of 2.23 and a beta of 1.04.

Noah (NYSE:NOAH) last issued its earnings results on Monday, August 28th. The asset manager reported $0.62 earnings per share (EPS) for the quarter. The company had revenue of $129.87 million for the quarter. Noah had a net margin of 26.54% and a return on equity of 9.20%. On average, analysts anticipate that Noah will post 2.25 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Noah

A number of large investors have recently bought and sold shares of NOAH. Envestnet Asset Management Inc. grew its holdings in shares of Noah by 29.4% during the first quarter. Envestnet Asset Management Inc. now owns 14,728 shares of the asset manager’s stock valued at $347,000 after buying an additional 3,349 shares during the last quarter. JPMorgan Chase & Co. raised its position in Noah by 27.3% in the first quarter. JPMorgan Chase & Co. now owns 107,361 shares of the asset manager’s stock worth $2,526,000 after acquiring an additional 23,018 shares during the period. American Century Companies Inc. raised its position in Noah by 16.1% in the first quarter. American Century Companies Inc. now owns 23,429 shares of the asset manager’s stock worth $551,000 after acquiring an additional 3,254 shares during the period. BlackRock Inc. raised its position in Noah by 5.8% in the first quarter. BlackRock Inc. now owns 1,699,678 shares of the asset manager’s stock worth $39,994,000 after acquiring an additional 93,890 shares during the period. Finally, Canada Pension Plan Investment Board raised its position in Noah by 109.9% in the first quarter. Canada Pension Plan Investment Board now owns 118,200 shares of the asset manager’s stock worth $2,781,000 after acquiring an additional 61,900 shares during the period. 42.67% of the stock is currently owned by institutional investors and hedge funds.

Noah Company Profile

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. It operates through three segments: Wealth Management, Asset Management, and Other Businesses.