StockNews.com Upgrades Noah (NYSE:NOAH) to “Buy”

Noah (NYSE:NOAH) was upgraded by StockNews.com from a “hold” rating to a “buy” rating in a research report issued on Tuesday.

Several other equities research analysts also recently weighed in on NOAH. Morgan Stanley downgraded shares of Noah from an “overweight” rating to an “equal weight” rating and set a $13.00 target price for the company. in a research note on Friday, November 29th. UBS Group lowered shares of Noah from a “buy” rating to a “neutral” rating and set a $13.00 price objective on the stock. in a research report on Thursday, October 24th.

Noah Price Performance

NOAH stock opened at $10.71 on Tuesday. The company has a market cap of $708.57 million, a price-to-earnings ratio of 9.15 and a beta of 0.79. The company has a fifty day moving average price of $11.94 and a 200 day moving average price of $10.36. Noah has a 12 month low of $7.14 and a 12 month high of $15.44.

Institutional Investors Weigh In On Noah

Institutional investors have recently made changes to their positions in the stock. Franklin Resources Inc. lifted its stake in shares of Noah by 10.4% in the third quarter. Franklin Resources Inc. now owns 1,786,627 shares of the asset manager’s stock valued at $24,441,000 after purchasing an additional 167,685 shares during the period. Dimensional Fund Advisors LP grew its holdings in Noah by 50.5% in the second quarter. Dimensional Fund Advisors LP now owns 255,606 shares of the asset manager’s stock valued at $2,472,000 after purchasing an additional 85,771 shares during the last quarter. Point72 Asset Management L.P. purchased a new position in shares of Noah in the third quarter valued at $566,000. AQR Capital Management LLC acquired a new position in shares of Noah during the 2nd quarter worth $615,000. Finally, FMR LLC acquired a new position in Noah during the third quarter worth about $8,895,000. 42.67% of the stock is currently owned by hedge funds and other institutional investors.

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.