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

Noah (NYSE:NOAH – Get Rating) was upgraded by stock analysts at StockNews.com from a “hold” rating to a “buy” rating in a report released on Thursday.

Other equities research analysts have also issued research reports about the company. Bank of America reduced their target price on Noah from $51.50 to $35.00 and set a “buy” rating on the stock in a research note on Wednesday, March 16th. JPMorgan Chase & Co. raised Noah from a “neutral” rating to an “overweight” rating and set a $22.00 price target on the stock in a research note on Wednesday.

Shares of NOAH traded up $1.39 on Thursday, reaching $18.91. The stock had a trading volume of 375,204 shares, compared to its average volume of 243,291. The firm has a market capitalization of $1.14 billion, a PE ratio of 7.03, a PEG ratio of 0.53 and a beta of 1.33. The firm has a 50-day moving average of $17.66 and a 200 day moving average of $24.60. Noah has a twelve month low of $15.06 and a twelve month high of $49.88.

Noah (NYSE:NOAH – Get Rating) last released its quarterly earnings results on Wednesday, May 11th. The asset manager reported $0.73 earnings per share for the quarter. The business had revenue of $125.52 million for the quarter. Noah had a return on equity of 15.27% and a net margin of 30.16%. As a group, equities analysts anticipate that Noah will post 3.14 EPS for the current year.

A number of hedge funds and other institutional investors have recently made changes to their positions in NOAH. Geode Capital Management LLC increased its holdings in Noah by 4.4% in the 3rd quarter. Geode Capital Management LLC now owns 121,704 shares of the asset manager’s stock valued at $4,478,000 after purchasing an additional 5,157 shares in the last quarter. The Manufacturers Life Insurance Company lifted its holdings in Noah by 8.5% in the third quarter. The Manufacturers Life Insurance Company now owns 6,400 shares of the asset manager’s stock worth $238,000 after acquiring an additional 500 shares during the last quarter. UBS Asset Management Americas Inc. lifted its holdings in Noah by 6.1% in the third quarter. UBS Asset Management Americas Inc. now owns 72,972 shares of the asset manager’s stock worth $2,709,000 after acquiring an additional 4,212 shares during the last quarter. Stonnington Group LLC bought a new position in Noah in the fourth quarter worth about $1,034,000. Finally, Russell Investments Group Ltd. raised its holdings in shares of Noah by 300.9% during the fourth quarter. Russell Investments Group Ltd. now owns 57,731 shares of the asset manager’s stock valued at $1,767,000 after buying an additional 43,329 shares during the last quarter. Hedge funds and other institutional investors own 64.19% of the company’s stock.

About Noah (Get Rating)

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. The company operates through three segments: Wealth Management, Asset Management, and Other Businesses.

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