Noah (NYSE:NOAH) Upgraded at StockNews.com

Noah (NYSE:NOAH - Get Free Report) was upgraded by StockNews.com from a "hold" rating to a "buy" rating in a research note issued to investors on Saturday.

Separately, Morgan Stanley lowered Noah from an "overweight" rating to an "equal weight" rating and set a $13.00 price target for the company. in a research note on Friday, November 29th.

Noah Trading Down 0.1 %

NYSE NOAH traded down $0.01 on Friday, hitting $11.17. 96,182 shares of the company's stock traded hands, compared to its average volume of 89,636. The firm's 50-day moving average price is $11.09 and its two-hundred day moving average price is $11.02. The firm has a market capitalization of $736.93 million, a PE ratio of 9.55 and a beta of 0.78. Noah has a 1-year low of $7.14 and a 1-year high of $15.44.

Noah (NYSE:NOAH - Get Free Report) last announced its quarterly earnings results on Tuesday, November 26th. The asset manager reported $0.30 earnings per share for the quarter. Noah had a return on equity of 6.43% and a net margin of 23.53%. On average, research analysts anticipate that Noah will post 0.93 earnings per share for the current fiscal year.

Remove Ads

Hedge Funds Weigh In On Noah

Large investors have recently made changes to their positions in the stock. Public Employees Retirement System of Ohio grew its holdings in shares of Noah by 18.1% in the fourth quarter. Public Employees Retirement System of Ohio now owns 19,085 shares of the asset manager's stock valued at $223,000 after purchasing an additional 2,930 shares in the last quarter. D. E. Shaw & Co. Inc. acquired a new position in shares of Noah in the fourth quarter worth $454,000. Cubist Systematic Strategies LLC purchased a new stake in shares of Noah during the fourth quarter worth $52,000. Bank of America Corp DE raised its stake in shares of Noah by 1,066.6% in the fourth quarter. Bank of America Corp DE now owns 83,902 shares of the asset manager's stock valued at $982,000 after acquiring an additional 76,710 shares in the last quarter. Finally, BNP Paribas Financial Markets purchased a new position in Noah in the fourth quarter valued at $72,000. 42.67% of the stock is currently owned by institutional investors and hedge funds.

About Noah

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.