Shares of Noah Holdings Limited (NYSE:NOAH) have received a consensus recommendation of “Buy” from the six analysts that are presently covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 12-month price target among analysts that have covered the stock in the last year is $53.50.
NOAH has been the subject of a number of research reports. Zacks Investment Research upgraded shares of Noah from a “hold” rating to a “buy” rating and set a $49.00 target price for the company in a research report on Tuesday, September 4th. ValuEngine downgraded shares of Noah from a “buy” rating to a “hold” rating in a research report on Monday, July 2nd. Nomura upgraded shares of Noah from a “neutral” rating to a “buy” rating in a research report on Thursday, July 19th. Finally, Deutsche Bank initiated coverage on shares of Noah in a research report on Wednesday. They set a “buy” rating for the company.
Shares of NYSE:NOAH traded up $0.70 on Wednesday, hitting $39.25. 2,012 shares of the company were exchanged, compared to its average volume of 395,695. Noah has a 1-year low of $27.35 and a 1-year high of $69.56. The company has a current ratio of 4.03, a quick ratio of 4.03 and a debt-to-equity ratio of 0.06. The company has a market capitalization of $2.51 billion, a P/E ratio of 19.54 and a beta of 2.16.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Hillhouse Capital Management Ltd. acquired a new position in shares of Noah in the second quarter worth about $46,515,000. BlackRock Inc. raised its position in shares of Noah by 177.8% in the second quarter. BlackRock Inc. now owns 1,291,219 shares of the asset manager’s stock worth $67,336,000 after acquiring an additional 826,436 shares during the period. GQG Partners LLC raised its position in shares of Noah by 13.5% in the first quarter. GQG Partners LLC now owns 1,130,489 shares of the asset manager’s stock worth $53,370,000 after acquiring an additional 134,696 shares during the period. JPMorgan Chase & Co. raised its position in shares of Noah by 15.1% in the first quarter. JPMorgan Chase & Co. now owns 966,535 shares of the asset manager’s stock worth $45,630,000 after acquiring an additional 126,733 shares during the period. Finally, Mckinley Capital Management LLC Delaware acquired a new position in shares of Noah in the second quarter worth about $4,707,000. Institutional investors own 48.53% of the company’s stock.
Noah Company Profile
Noah Holdings Limited, through its subsidiaries, operates as a wealth and asset management service provider with focus on wealth investment and asset allocation services for high net worth individuals and enterprises in the People's Republic of China. The company operates through three segments: Wealth Management, Asset Management, and Other Financial Service.
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