Noah (NYSE:NOAH) Cut to Equal Weight at Morgan Stanley

Noah (NYSE:NOAH) was downgraded by stock analysts at Morgan Stanley from an “overweight” rating to an “equal weight” rating in a research note issued on Friday,Briefing.com Automated Import reports. They currently have a $13.00 price objective on the asset manager’s stock. Morgan Stanley’s target price would suggest a potential upside of 1.48% from the stock’s previous close.

Separately, UBS Group lowered Noah from a “buy” rating to a “neutral” rating and set a $13.00 price objective for the company. in a report on Thursday, October 24th.

Noah Trading Up 9.4 %

Noah stock opened at $12.81 on Friday. The firm has a market cap of $847.25 million, a price-to-earnings ratio of 10.95 and a beta of 0.78. The stock has a fifty day simple moving average of $12.25 and a two-hundred day simple moving average of $10.43. Noah has a 12 month low of $7.14 and a 12 month high of $15.44.

Noah (NYSE:NOAH) last posted its earnings results on Wednesday, August 28th. The asset manager reported $0.21 EPS for the quarter. Noah had a return on equity of 6.43% and a net margin of 23.53%. The business had revenue of $84.74 million during the quarter. On average, equities research analysts forecast that Noah will post 1.37 EPS for the current fiscal year.

Noah announced that its board has initiated a stock buyback plan on Wednesday, August 28th that authorizes the company to buyback $50.00 million in shares. This buyback authorization authorizes the asset manager to buy up to 10.3% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board believes its stock is undervalued.

Institutional Trading of Noah

Hedge funds have recently bought and sold shares of the stock. Signaturefd LLC grew its holdings in Noah by 2,218.7% during the third quarter. Signaturefd LLC now owns 2,481 shares of the asset manager’s stock valued at $31,000 after purchasing an additional 2,374 shares during the period. Public Employees Retirement Association of Colorado bought a new stake in Noah during the first quarter valued at about $40,000. Blue Trust Inc. grew its holdings in Noah by 510.7% during the third quarter. Blue Trust Inc. now owns 3,982 shares of the asset manager’s stock valued at $49,000 after purchasing an additional 3,330 shares during the period. Point72 Asia Singapore Pte. Ltd. bought a new stake in Noah during the third quarter valued at about $65,000. Finally, JBF Capital Inc. bought a new stake in Noah during the second quarter valued at about $106,000. 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.