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

Noah (NYSE:NOAH) was upgraded by investment analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a report released on Friday.

Separately, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Noah in a research note on Tuesday. One investment analyst has rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $11.50.

Noah Trading Down 2.0%

Shares of NOAH stock opened at $10.16 on Friday. The company has a market capitalization of $672.37 million, a price-to-earnings ratio of 9.07 and a beta of 0.88. The firm has a 50-day moving average price of $11.25 and a 200 day moving average price of $11.52. Noah has a twelve month low of $7.67 and a twelve month high of $13.30.

Noah (NYSE:NOAH) last issued its quarterly earnings results on Tuesday, November 25th. The asset manager reported $0.46 EPS for the quarter. The business had revenue of $88.90 million during the quarter, compared to the consensus estimate of $92.22 million. Noah had a net margin of 22.17% and a return on equity of 6.44%. As a group, research analysts predict that Noah will post 0.93 earnings per share for the current year.

Institutional Trading of Noah

Institutional investors and hedge funds have recently made changes to their positions in the company. Signaturefd LLC boosted its holdings in Noah by 124.7% in the second quarter. Signaturefd LLC now owns 5,778 shares of the asset manager’s stock valued at $69,000 after acquiring an additional 3,207 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of Noah in the 3rd quarter valued at about $84,000. Quadrant Capital Group LLC acquired a new position in shares of Noah in the 3rd quarter valued at about $85,000. New York State Common Retirement Fund purchased a new stake in shares of Noah during the 3rd quarter worth about $105,000. Finally, Centiva Capital LP acquired a new stake in Noah during the 3rd quarter worth approximately $118,000. 42.67% of the stock is currently owned by institutional investors and hedge funds.

About Noah

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 Services.