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

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

Several other analysts have also weighed in on NOAH. JPMorgan Chase & Co. lowered shares of Noah from an “overweight” rating to a “neutral” rating and dropped their price objective for the stock from $14.70 to $12.00 in a report on Thursday, March 26th. Weiss Ratings raised shares of Noah from a “hold (c-)” rating to a “hold (c)” rating in a research note on Wednesday, April 29th. Finally, Zacks Research raised shares of Noah from a “strong sell” rating to a “hold” rating in a research note on Monday, May 25th. Four investment analysts have rated the stock with a Hold rating, According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $11.00.

Noah Trading Up 2.2%

NYSE NOAH opened at $10.60 on Friday. The firm has a market cap of $715.21 million, a price-to-earnings ratio of 9.82 and a beta of 0.80. The company has a 50 day moving average of $10.38 and a 200-day moving average of $10.82. Noah has a 1-year low of $9.53 and a 1-year high of $12.84.

Institutional Trading of Noah

Hedge funds have recently modified their holdings of the stock. Federation des caisses Desjardins du Quebec bought a new position in Noah in the fourth quarter valued at approximately $41,000. Mirae Asset Global Investments Co. Ltd. bought a new position in Noah in the third quarter valued at approximately $84,000. Quadrant Capital Group LLC bought a new position in Noah in the third quarter valued at approximately $85,000. IMC Chicago LLC bought a new position in Noah in the first quarter valued at approximately $100,000. Finally, Kestra Private Wealth Services LLC bought a new position in Noah in the first quarter valued at approximately $103,000. 42.67% of the stock is owned by institutional investors.

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.