Noah (NYSE:NOAH) Upgraded at Zacks Research

Zacks Research upgraded shares of Noah (NYSE:NOAH) from a strong sell rating to a hold rating in a research report released on Monday,Zacks.com reports.

Several other research analysts have also commented on NOAH. UBS Group decreased their target price on Noah from $11.00 to $10.00 and set a “neutral” rating for the company in a research report on Monday, December 22nd. Weiss Ratings restated a “hold (c-)” rating on shares of Noah in a research note on Monday, December 29th. Finally, Wall Street Zen downgraded shares of Noah from a “buy” rating to a “hold” rating in a report on Saturday, January 31st. One research analyst has rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $10.75.

Noah Stock Performance

NOAH opened at $12.22 on Monday. The company has a market capitalization of $819.35 million, a P/E ratio of 9.47 and a beta of 0.73. The company has a 50-day moving average of $11.23 and a 200-day moving average of $11.30. Noah has a 1-year low of $7.67 and a 1-year high of $12.84.

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

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Y Intercept Hong Kong Ltd acquired a new position in shares of Noah during the second quarter valued at $413,000. Creative Planning increased its position in Noah by 10.6% in the third quarter. Creative Planning now owns 12,516 shares of the asset manager’s stock worth $145,000 after purchasing an additional 1,195 shares during the period. Mackenzie Financial Corp bought a new stake in Noah during the 3rd quarter worth about $158,000. Cubist Systematic Strategies LLC lifted its position in Noah by 307.2% during the 1st quarter. Cubist Systematic Strategies LLC now owns 17,980 shares of the asset manager’s stock valued at $170,000 after purchasing an additional 13,564 shares during the period. Finally, BNP Paribas Financial Markets lifted its position in Noah by 17.7% during the 3rd quarter. BNP Paribas Financial Markets now owns 16,070 shares of the asset manager’s stock valued at $186,000 after purchasing an additional 2,412 shares during the period. 42.67% of the stock is currently owned by institutional investors.

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.