Noah (NYSE:NOAH) Rating Increased to Hold (C-) at Weiss Ratings

Key Points

• Weiss Ratings upgraded Noah (NYSE:NOAH) from a "sell (d+)" to a "hold (c-)" rating, reflecting a cautious outlook for the stock.
• Following a recent downgrade by Wall Street Zen from "buy" to "hold," Noah currently holds a consensus rating of "Hold" with a target price of $12.00.
• Despite recent trading activity showing a small decline, Noah achieved a quarterly revenue of $87.87 million, exceeding analyst expectations of $86.31 million.

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

Separately, Wall Street Zen lowered shares of Noah from a "buy" rating to a "hold" rating in a report on Saturday, September 20th. One research analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $12.00.

Noah Stock Down 0.2%

Shares of NYSE NOAH traded down $0.02 during mid-day trading on Wednesday, reaching $11.90. 9,520 shares of the company were exchanged, compared to its average volume of 155,030. Noah has a twelve month low of $7.67 and a twelve month high of $13.84. The stock has a market capitalization of $787.54 million, a P/E ratio of 10.65 and a beta of 0.87. The company's 50-day simple moving average is $11.91 and its 200-day simple moving average is $11.00.

Noah (NYSE:NOAH - Get Free Report) last released its quarterly earnings results on Wednesday, August 27th. The asset manager reported $0.37 EPS for the quarter. Noah had a net margin of 22.17% and a return on equity of 6.44%. The business had revenue of $87.87 million for the quarter, compared to analyst estimates of $86.31 million. As a group, equities research analysts expect that Noah will post 0.93 EPS for the current year.

Institutional Investors Weigh In On Noah

Several hedge funds have recently added to or reduced their stakes in the business. Signaturefd LLC lifted its position in shares of Noah by 124.7% in the 2nd quarter. Signaturefd LLC now owns 5,778 shares of the asset manager's stock worth $69,000 after purchasing an additional 3,207 shares during the period. Cubist Systematic Strategies LLC increased its stake in Noah by 307.2% during the 1st quarter. Cubist Systematic Strategies LLC now owns 17,980 shares of the asset manager's stock valued at $170,000 after purchasing an additional 13,564 shares in the last quarter. Everstar Asset Management LLC purchased a new position in Noah during the 1st quarter worth $217,000. Invesco Ltd. boosted its holdings in Noah by 7.1% during the 1st quarter. Invesco Ltd. now owns 30,880 shares of the asset manager's stock worth $292,000 after acquiring an additional 2,047 shares during the last quarter. Finally, Marshall Wace LLP purchased a new position in Noah during the 2nd quarter worth $306,000. 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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