Wall Street Zen Upgrades Noah (NYSE:NOAH) to Buy

Noah (NYSE:NOAH) was upgraded by equities researchers at Wall Street Zen from a “hold” rating to a “buy” rating in a note issued to investors on Friday.

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

Noah Stock Down 2.0%

NOAH stock opened at $10.16 on Friday. Noah has a 52 week low of $7.67 and a 52 week high of $13.30. The business has a 50-day simple moving average of $11.25 and a 200 day simple moving average of $11.51. The company has a market cap of $672.37 million, a PE ratio of 9.07 and a beta of 0.88.

Noah (NYSE:NOAH) last announced its quarterly earnings data on Tuesday, November 25th. The asset manager reported $0.46 earnings per share (EPS) for the quarter. Noah had a net margin of 22.17% and a return on equity of 6.44%. The firm had revenue of $88.90 million for the quarter, compared to the consensus estimate of $92.22 million. On average, analysts anticipate that Noah will post 0.93 EPS for the current fiscal year.

Hedge Funds Weigh In On Noah

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Signaturefd LLC boosted its position 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 buying an additional 3,207 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. bought a new position in shares of Noah in the 3rd quarter valued at $84,000. Quadrant Capital Group LLC acquired a new stake in shares of Noah during the 3rd quarter valued at $85,000. New York State Common Retirement Fund bought a new stake in Noah during the 3rd quarter worth $105,000. Finally, Centiva Capital LP bought a new stake in Noah during the 3rd quarter worth $118,000. Institutional investors own 42.67% of the company’s stock.

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.