Noah (NYSE:NOAH) Upgraded by JPMorgan Chase & Co. to Overweight Rating

Noah (NYSE:NOAH) was upgraded by investment analysts at JPMorgan Chase & Co. from a “neutral” rating to an “overweight” rating in a note issued to investors on Wednesday,Benzinga reports. The firm currently has a $11.50 price target on the asset manager’s stock. JPMorgan Chase & Co.‘s target price would suggest a potential upside of 45.66% from the stock’s previous close.

A number of other equities analysts have also issued reports on NOAH. StockNews.com lowered shares of Noah from a “buy” rating to a “hold” rating in a research report on Thursday, March 20th. UBS Group reissued a “neutral” rating and set a $11.50 price objective on shares of Noah in a research report on Friday, March 28th.

Noah Trading Down 4.8 %

Shares of NYSE:NOAH opened at $7.90 on Wednesday. The firm has a 50 day simple moving average of $10.72 and a 200-day simple moving average of $11.49. Noah has a twelve month low of $7.14 and a twelve month high of $15.44. The company has a market capitalization of $520.86 million, a PE ratio of 6.75 and a beta of 0.78.

Noah (NYSE:NOAH) last released its quarterly earnings data on Tuesday, March 25th. The asset manager reported $0.26 earnings per share (EPS) for the quarter. Noah had a net margin of 23.53% and a return on equity of 6.43%. The company had revenue of $89.31 million during the quarter, compared to the consensus estimate of $102.07 million. As a group, equities research analysts predict that Noah will post 0.93 EPS for the current fiscal year.

Hedge Funds Weigh In On Noah

Institutional investors have recently bought and sold shares of the company. Tower Research Capital LLC TRC boosted its holdings in shares of Noah by 1,188.6% in the fourth quarter. Tower Research Capital LLC TRC now owns 2,371 shares of the asset manager’s stock valued at $28,000 after acquiring an additional 2,187 shares in the last quarter. Public Employees Retirement System of Ohio boosted its holdings in Noah by 18.1% in the 4th quarter. Public Employees Retirement System of Ohio now owns 19,085 shares of the asset manager’s stock valued at $223,000 after purchasing an additional 2,930 shares in the last quarter. Public Employees Retirement Association of Colorado acquired a new position in Noah during the 4th quarter worth approximately $39,000. Barclays PLC raised its stake in shares of Noah by 14.0% during the 4th quarter. Barclays PLC now owns 28,660 shares of the asset manager’s stock worth $335,000 after buying an additional 3,524 shares in the last quarter. Finally, Ballentine Partners LLC raised its stake in shares of Noah by 16.7% during the 4th quarter. Ballentine Partners LLC now owns 27,565 shares of the asset manager’s stock worth $323,000 after buying an additional 3,948 shares in the last quarter. 42.67% of the stock is 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 Services.