Noah (NYSE:NOAH) Downgraded to "Sell (D+)" Rating by Weiss Ratings

Key Points

• Noah (NYSE:NOAH) has been downgraded from a "hold" to a "sell" rating by Weiss Ratings in a recent research note.
• Analysts currently give Noah an average rating of "hold" with a price target of $12.00, following a series of downgrades from other firms, including Wall Street Zen.
• Noah's stock price is currently $11.60, having seen moderate movements, with a market cap of $767.69 million and a recent earnings report showing a net margin of 22.17% and revenue exceeding expectations.

Noah (NYSE:NOAH - Get Free Report) was downgraded by equities research analysts at Weiss Ratings from a "hold (c-)" rating to a "sell (d+)" rating in a research note issued on Saturday,Weiss Ratings reports.

Separately, Wall Street Zen cut Noah from a "buy" rating to a "hold" rating in a report on Saturday, September 20th. One investment analyst has rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Noah presently has an average rating of "Hold" and an average price target of $12.00.

Noah Stock Up 0.3%

Shares of Noah stock opened at $11.60 on Friday. The stock has a market capitalization of $767.69 million, a P/E ratio of 10.36 and a beta of 0.87. The stock has a 50 day moving average price of $11.80 and a two-hundred day moving average price of $11.18. Noah has a 12-month low of $7.67 and a 12-month high of $13.30.

Noah (NYSE:NOAH - Get Free Report) last posted its quarterly earnings data on Wednesday, August 27th. The asset manager reported $0.37 earnings per share for the quarter. Noah had a return on equity of 6.44% and a net margin of 22.17%.The company had revenue of $87.87 million during the quarter, compared to analysts' expectations of $86.31 million. Sell-side analysts anticipate 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 modified their holdings of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in Noah in the 2nd quarter valued at approximately $14,128,000. Acadian Asset Management LLC lifted its stake in Noah by 61.9% in the 1st quarter. Acadian Asset Management LLC now owns 696,967 shares of the asset manager's stock valued at $6,563,000 after acquiring an additional 266,602 shares in the last quarter. Janney Montgomery Scott LLC bought a new stake in Noah in the 1st quarter valued at approximately $354,000. Nuveen LLC bought a new stake in Noah in the 1st quarter valued at approximately $350,000. Finally, Y Intercept Hong Kong Ltd bought a new stake in Noah in the 2nd quarter valued at approximately $413,000. 42.67% of the stock is currently owned by institutional investors and hedge funds.

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.

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