Noah (NYSE:NOAH) Upgraded at StockNews.com

StockNews.com upgraded shares of Noah (NYSE:NOAH) from a hold rating to a buy rating in a report published on Saturday morning.

Separately, 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 note on Friday, November 29th.

Noah Price Performance

Shares of NOAH stock opened at $11.17 on Friday. Noah has a 1-year low of $7.14 and a 1-year high of $15.44. The stock’s fifty day moving average price is $11.11 and its 200 day moving average price is $11.00. The company has a market cap of $736.93 million, a price-to-earnings ratio of 9.55 and a beta of 0.78.

Noah (NYSE:NOAH) last posted 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%. As a group, equities research analysts anticipate that Noah will post 0.93 earnings per share for the current year.

Institutional Trading of Noah

A number of hedge funds have recently modified their holdings of NOAH. FMR LLC purchased a new stake in shares of Noah in the third quarter worth about $8,895,000. FIL Ltd boosted its stake in shares of Noah by 11.3% in the fourth quarter. FIL Ltd now owns 4,260,790 shares of the asset manager’s stock worth $49,894,000 after buying an additional 432,599 shares during the last quarter. Franklin Resources Inc. boosted its stake in shares of Noah by 9.4% in the fourth quarter. Franklin Resources Inc. now owns 1,955,360 shares of the asset manager’s stock worth $22,897,000 after buying an additional 168,733 shares during the last quarter. First Beijing Investment Ltd purchased a new stake in shares of Noah in the third quarter worth about $1,531,000. Finally, Bank of America Corp DE raised its holdings in Noah by 1,066.6% in the 4th quarter. Bank of America Corp DE now owns 83,902 shares of the asset manager’s stock worth $982,000 after purchasing an additional 76,710 shares during the period. 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.