Noah (NYSE:NOAH) Raised to Buy at Wall Street Zen

Noah (NYSE:NOAH) was upgraded by Wall Street Zen from a “hold” rating to a “buy” rating in a research note issued on Saturday.

Other analysts have also issued research reports about the company. Weiss Ratings reissued a “hold (c-)” rating on shares of Noah in a research report on Monday, December 29th. UBS Group dropped their price objective on Noah from $11.00 to $10.00 and set a “neutral” rating for the company in a research note on Monday, December 22nd. One equities research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, Noah has a consensus rating of “Hold” and a consensus target price of $10.75.

Noah Trading Up 6.1%

Shares of NOAH opened at $10.65 on Friday. The company’s 50-day moving average price is $10.52 and its 200 day moving average price is $11.42. Noah has a 12-month low of $7.67 and a 12-month high of $12.84. The firm has a market cap of $705.02 million, a P/E ratio of 8.26 and a beta of 0.72.

Noah (NYSE:NOAH) last announced its quarterly earnings results on Tuesday, November 25th. The asset manager reported $0.46 earnings per share for the quarter. The business had revenue of $88.90 million during the quarter, compared to analysts’ expectations of $92.22 million. Noah had a net margin of 25.99% and a return on equity of 7.23%. Equities research analysts forecast that Noah will post 0.93 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Signaturefd LLC increased its position in Noah by 124.7% during the 2nd quarter. Signaturefd LLC now owns 5,778 shares of the asset manager’s stock worth $69,000 after purchasing an additional 3,207 shares during the period. Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of Noah in the third quarter valued at approximately $84,000. Quadrant Capital Group LLC purchased a new stake in shares of Noah in the third quarter valued at approximately $85,000. New York State Common Retirement Fund acquired a new position in Noah during the third quarter worth $105,000. Finally, Centiva Capital LP purchased a new position in Noah in the third quarter worth $118,000. Hedge funds and other institutional investors own 42.67% of the company’s stock.

About Noah

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.