Zacks Research Upgrades Noah (NYSE:NOAH) to Hold

Noah (NYSE:NOAH) was upgraded by equities research analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a research note issued to investors on Monday,Zacks.com reports.

Several other equities analysts also recently issued reports on the company. UBS Group cut their target price on Noah from $11.00 to $10.00 and set a “neutral” rating on the stock in a research report on Monday, December 22nd. Weiss Ratings reiterated a “hold (c-)” rating on shares of Noah in a research note on Monday, December 29th. Finally, Wall Street Zen lowered 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 assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $10.75.

Noah Stock Up 2.2%

Shares of Noah stock opened at $12.14 on Monday. The company has a 50 day moving average price of $11.18 and a 200 day moving average price of $11.29. The firm has a market capitalization of $813.99 million, a P/E ratio of 9.41 and a beta of 0.73. Noah has a 52 week low of $7.67 and a 52 week high of $12.84.

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

Hedge Funds Weigh In On Noah

A number of institutional investors have recently modified their holdings of the stock. Virtu Financial LLC acquired a new position in shares of Noah in the 4th quarter valued at about $115,000. Millennium Management LLC raised its position in Noah by 27.8% during the fourth quarter. Millennium Management LLC now owns 64,150 shares of the asset manager’s stock valued at $644,000 after acquiring an additional 13,962 shares in the last quarter. Trexquant Investment LP lifted its holdings in Noah by 20.5% in the fourth quarter. Trexquant Investment LP now owns 66,282 shares of the asset manager’s stock valued at $665,000 after acquiring an additional 11,288 shares during the period. FIL Ltd boosted its position in Noah by 7.1% in the 4th quarter. FIL Ltd now owns 6,377,766 shares of the asset manager’s stock worth $64,033,000 after purchasing an additional 424,717 shares in the last quarter. Finally, Jump Financial LLC acquired a new stake in shares of Noah during the 4th quarter worth approximately $272,000. 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.