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

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

Separately, Morgan Stanley cut shares of Noah from an “overweight” rating to an “equal weight” rating and set a $13.00 target price on the stock. in a research note on Friday, November 29th.

Noah Stock Up 0.3 %

Shares of NYSE:NOAH opened at $11.82 on Friday. The firm’s 50 day moving average price is $11.12 and its 200-day moving average price is $10.89. Noah has a twelve month low of $7.14 and a twelve month high of $15.44. The stock has a market capitalization of $779.44 million, a PE ratio of 10.10 and a beta of 0.78.

Noah (NYSE:NOAH) last issued its quarterly earnings data on Tuesday, November 26th. The asset manager reported $0.30 earnings per share for the quarter. Noah had a net margin of 23.53% and a return on equity of 6.43%. Analysts expect that Noah will post 0.93 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Noah

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Franklin Resources Inc. raised its stake in Noah by 10.4% during the 3rd quarter. Franklin Resources Inc. now owns 1,786,627 shares of the asset manager’s stock worth $24,441,000 after acquiring an additional 167,685 shares during the period. Point72 Asset Management L.P. bought a new stake in shares of Noah during the third quarter valued at approximately $566,000. FMR LLC bought a new stake in shares of Noah during the third quarter valued at approximately $8,895,000. Ballentine Partners LLC raised its position in shares of Noah by 16.7% during the fourth quarter. Ballentine Partners LLC now owns 27,565 shares of the asset manager’s stock valued at $323,000 after buying an additional 3,948 shares during the last quarter. Finally, Wolverine Trading LLC bought a new stake in shares of Noah during the third quarter valued at approximately $196,000. 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.