Noah (NYSE:NOAH) Rating Increased to Buy at StockNews.com

Noah (NYSE:NOAH) was upgraded by equities research analysts at StockNews.com from a “hold” rating to a “buy” rating in a note issued to investors on Thursday.

NOAH has been the topic of several other reports. Morgan Stanley downgraded shares of Noah from an “overweight” rating to an “equal weight” rating and set a $13.00 price target on the stock. in a research note on Friday, November 29th. UBS Group downgraded shares of Noah from a “buy” rating to a “neutral” rating and set a $13.00 price target on the stock. in a research note on Thursday, October 24th.

Noah Stock Performance

NOAH stock opened at $10.94 on Thursday. The company’s 50-day simple moving average is $11.65 and its 200 day simple moving average is $10.37. Noah has a 52 week low of $7.14 and a 52 week high of $15.44. The company has a market capitalization of $721.38 million, a PE ratio of 9.35 and a beta of 0.79.

Institutional Investors Weigh In On Noah

Institutional investors and hedge funds have recently bought and sold shares of the company. Franklin Resources Inc. lifted its position in Noah by 10.4% during the third quarter. Franklin Resources Inc. now owns 1,786,627 shares of the asset manager’s stock worth $24,441,000 after purchasing an additional 167,685 shares during the period. Dimensional Fund Advisors LP lifted its position in Noah by 50.5% during the second quarter. Dimensional Fund Advisors LP now owns 255,606 shares of the asset manager’s stock worth $2,472,000 after purchasing an additional 85,771 shares during the period. Point72 Asset Management L.P. bought a new stake in Noah during the third quarter worth about $566,000. AQR Capital Management LLC bought a new stake in Noah during the second quarter worth about $615,000. Finally, FMR LLC bought a new stake in Noah during the third quarter worth about $8,895,000. 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.