Noah (NYSE:NOAH) was upgraded by ValuEngine from a “sell” rating to a “hold” rating in a note issued to investors on Thursday.
NOAH has been the topic of several other reports. Zacks Investment Research raised shares of Noah from a “hold” rating to a “buy” rating and set a $49.00 price objective on the stock in a research note on Tuesday, September 4th. Deutsche Bank began coverage on shares of Noah in a research note on Wednesday, September 12th. They issued a “buy” rating on the stock. Finally, Nomura raised shares of Noah from a “neutral” rating to a “buy” rating in a research note on Thursday, July 19th. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Noah has an average rating of “Buy” and a consensus target price of $53.50.
NOAH traded up $3.09 during trading on Thursday, hitting $40.80. The stock had a trading volume of 795,674 shares, compared to its average volume of 383,987. The company has a debt-to-equity ratio of 0.06, a quick ratio of 4.03 and a current ratio of 4.03. The stock has a market capitalization of $2.14 billion, a P/E ratio of 20.30 and a beta of 2.02. Noah has a twelve month low of $34.20 and a twelve month high of $69.56.
Noah (NYSE:NOAH) last announced its quarterly earnings data on Tuesday, August 28th. The asset manager reported $0.45 earnings per share (EPS) for the quarter. The company had revenue of $121.26 million for the quarter. Noah had a net margin of 26.20% and a return on equity of 17.17%. Sell-side analysts predict that Noah will post 2.45 EPS for the current year.
Several large investors have recently bought and sold shares of NOAH. Hillhouse Capital Management Ltd. acquired a new position in shares of Noah during the 2nd quarter worth $46,515,000. BlackRock Inc. grew its stake in shares of Noah by 177.8% during the 2nd quarter. BlackRock Inc. now owns 1,291,219 shares of the asset manager’s stock worth $67,336,000 after purchasing an additional 826,436 shares during the period. Coronation Fund Managers Ltd. grew its stake in shares of Noah by 34.3% during the 3rd quarter. Coronation Fund Managers Ltd. now owns 1,999,168 shares of the asset manager’s stock worth $84,245,000 after purchasing an additional 510,547 shares during the period. Northern Trust Corp grew its stake in shares of Noah by 88.8% during the 2nd quarter. Northern Trust Corp now owns 215,734 shares of the asset manager’s stock worth $11,250,000 after purchasing an additional 101,495 shares during the period. Finally, Mckinley Capital Management LLC Delaware acquired a new position in shares of Noah during the 2nd quarter worth $4,707,000. 48.42% of the stock is currently owned by institutional investors and hedge funds.
Noah Holdings Limited, through its subsidiaries, operates as a wealth and asset management service provider with focus on wealth investment and asset allocation services for high net worth individuals and enterprises in the People's Republic of China. The company operates through three segments: Wealth Management, Asset Management, and Other Financial Service.
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