Noah (NYSE:NOAH) Stock Rating Lowered by StockNews.com

StockNews.com downgraded shares of Noah (NYSE:NOAH) from a buy rating to a hold rating in a research report sent to investors on Friday.

Other equities analysts also recently issued research reports about the company. UBS Group downgraded Noah from a “buy” rating to a “neutral” rating and set a $13.00 price target on the stock. in a research report on Thursday, October 24th. Morgan Stanley downgraded Noah from an “overweight” rating to an “equal weight” rating and set a $13.00 price target on the stock. in a research report on Friday, November 29th.

Noah Stock Performance

NOAH opened at $11.45 on Friday. Noah has a 52-week low of $7.14 and a 52-week high of $15.44. The firm has a market capitalization of $755.22 million, a PE ratio of 9.78 and a beta of 0.78. The business’s 50-day simple moving average is $11.20 and its 200 day simple moving average is $10.76.

Noah (NYSE:NOAH) 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 forecast that Noah will post 0.93 earnings per share for the current year.

Hedge Funds Weigh In On Noah

Institutional investors and hedge funds have recently made changes to their positions in the company. Franklin Resources Inc. grew its position 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 last quarter. Point72 Asset Management L.P. acquired a new position in shares of Noah in the third quarter valued at approximately $566,000. FMR LLC acquired a new position in shares of Noah in the third quarter valued at approximately $8,895,000. Ballentine Partners LLC grew its position in shares of Noah by 16.7% in the fourth quarter. Ballentine Partners LLC now owns 27,565 shares of the asset manager’s stock valued at $323,000 after purchasing an additional 3,948 shares during the last quarter. Finally, Wolverine Trading LLC acquired a new position in shares of Noah in the third quarter valued at approximately $196,000. Institutional investors and hedge funds 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.