Noah (NYSE:NOAH) Downgraded by Wall Street Zen to “Hold”

Noah (NYSE:NOAH) was downgraded by equities research analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a research report issued on Saturday.

A number of other equities research analysts have also weighed in on the stock. UBS Group reduced their price objective on shares of Noah from $11.00 to $10.00 and set a “neutral” rating on the stock in a report on Monday, December 22nd. Zacks Research lowered Noah from a “hold” rating to a “strong sell” rating in a report on Friday, January 2nd. Finally, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Noah in a report on Monday, December 29th. One investment analyst has rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $10.75.

Noah Stock Performance

Shares of NOAH opened at $11.87 on Friday. Noah has a 1 year low of $7.67 and a 1 year high of $12.84. The stock has a market capitalization of $796.08 million, a PE ratio of 9.20 and a beta of 0.72. The stock has a 50-day simple moving average of $10.62 and a 200-day simple moving average of $11.34.

Noah (NYSE:NOAH) last released its earnings results on Tuesday, November 25th. The asset manager reported $0.46 earnings per share for the quarter. Noah had a net margin of 25.99% and a return on equity of 7.23%. The firm had revenue of $88.90 million for the quarter, compared to analyst estimates of $92.22 million. Analysts predict that Noah will post 0.93 EPS for the current year.

Hedge Funds Weigh In On Noah

Several hedge funds have recently made changes to their positions in the company. Pictet Asset Management Holding SA increased its position in shares of Noah by 66.9% during the fourth quarter. Pictet Asset Management Holding SA now owns 50,400 shares of the asset manager’s stock worth $506,000 after purchasing an additional 20,200 shares in the last quarter. JPMorgan Chase & Co. purchased a new position in Noah during the 3rd quarter worth approximately $307,000. Public Employees Retirement System of Ohio grew its stake in Noah by 48.4% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 21,950 shares of the asset manager’s stock worth $254,000 after buying an additional 7,163 shares during the last quarter. Millennium Management LLC acquired a new position in Noah during the third quarter worth approximately $582,000. Finally, Centiva Capital LP purchased a new stake in Noah in the third quarter valued at approximately $118,000. Hedge funds and other 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.