JPMorgan Chase & Co. Upgrades Noah (NYSE:NOAH) to Overweight

Noah (NYSE:NOAH - Get Free Report) was upgraded by research analysts at JPMorgan Chase & Co. from a "neutral" rating to an "overweight" rating in a report released on Wednesday, MarketBeat reports. The firm presently has a $11.50 price objective on the asset manager's stock. JPMorgan Chase & Co.'s target price would suggest a potential upside of 31.28% from the company's current price.

Several other analysts have also commented on NOAH. UBS Group reaffirmed a "neutral" rating and issued a $11.50 price objective on shares of Noah in a research report on Friday, March 28th. StockNews.com cut shares of Noah from a "buy" rating to a "hold" rating in a report on Thursday, March 20th.

Noah Stock Performance

Shares of Noah stock traded up $0.36 during mid-day trading on Wednesday, hitting $8.76. 80,471 shares of the stock were exchanged, compared to its average volume of 185,598. Noah has a 12 month low of $7.14 and a 12 month high of $15.44. The company has a 50-day simple moving average of $10.53 and a 200 day simple moving average of $11.44. The company has a market capitalization of $577.93 million, a P/E ratio of 7.49 and a beta of 0.78.

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Noah (NYSE:NOAH - Get Free Report) last announced its quarterly earnings data on Tuesday, March 25th. The asset manager reported $0.26 earnings per share (EPS) for the quarter. The firm had revenue of $89.31 million during the quarter, compared to the consensus estimate of $102.07 million. Noah had a return on equity of 6.43% and a net margin of 23.53%. Analysts predict that Noah will post 0.93 EPS for the current year.

Hedge Funds Weigh In On Noah

Large investors have recently modified their holdings of the business. Tower Research Capital LLC TRC boosted its holdings in Noah by 1,188.6% in the 4th quarter. Tower Research Capital LLC TRC now owns 2,371 shares of the asset manager's stock worth $28,000 after buying an additional 2,187 shares during the period. Public Employees Retirement Association of Colorado purchased a new stake in shares of Noah during the fourth quarter worth $39,000. Cubist Systematic Strategies LLC bought a new position in shares of Noah in the fourth quarter worth $52,000. BNP Paribas Financial Markets purchased a new position in shares of Noah in the fourth quarter valued at $72,000. Finally, Hsbc Holdings PLC bought a new stake in shares of Noah during the 4th quarter valued at $150,000. Hedge funds and other 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.