Noah (NYSE:NOAH) Stock Price Down 8.9% Following Analyst Downgrade

Key Points

• JPMorgan downgraded Noah from overweight to neutral and cut its price target to $12 (from $14.70), sending the stock down about 8.9% intraday to a low of $10 and last trading around $10.32 versus a prior close of $11.33.
• Several other brokers have moved to neutral/hold or lowered targets, leaving a MarketBeat consensus rating of Hold with a $11.00 consensus price target.
• Institutional investors own roughly 42.7% of the stock; Noah’s market cap is about $699 million with a P/E of ~9.4 and 50-/200-day moving averages near $11.66/$11.23.

Shares of Noah Holdings Ltd. (NYSE:NOAH - Get Free Report) traded down 8.9% during mid-day trading on Thursday after JPMorgan Chase & Co. downgraded the stock from an overweight rating to a neutral rating. JPMorgan Chase & Co. now has a $12.00 price target on the stock, down from their previous price target of $14.70. Noah traded as low as $10.00 and last traded at $10.3190. 81,721 shares changed hands during trading, a decline of 39% from the average session volume of 134,513 shares. The stock had previously closed at $11.33.

Several other equities research analysts also recently weighed in on NOAH. Wall Street Zen downgraded shares of Noah from a "buy" rating to a "hold" rating in a report on Saturday, January 31st. Zacks Research upgraded shares of Noah from a "strong sell" rating to a "hold" rating in a research report on Monday, February 23rd. Weiss Ratings reaffirmed a "hold (c-)" rating on shares of Noah in a research note on Monday, December 29th. Finally, UBS Group decreased their price objective on shares of Noah from $11.00 to $10.00 and set a "neutral" rating for the company in a report on Monday, December 22nd. Four research analysts have rated the stock with a Hold rating, According to MarketBeat.com, Noah has a consensus rating of "Hold" and a consensus price target of $11.00.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of NOAH. Creative Planning raised its position in Noah by 10.6% in the third quarter. Creative Planning now owns 12,516 shares of the asset manager's stock worth $145,000 after acquiring an additional 1,195 shares in the last quarter. American Century Companies Inc. boosted its position in shares of Noah by 1.5% during the 2nd quarter. American Century Companies Inc. now owns 139,499 shares of the asset manager's stock valued at $1,666,000 after purchasing an additional 2,084 shares in the last quarter. Bank of America Corp DE grew its stake in shares of Noah by 2.2% in the 2nd quarter. Bank of America Corp DE now owns 99,919 shares of the asset manager's stock worth $1,193,000 after purchasing an additional 2,163 shares during the last quarter. BNP Paribas Financial Markets grew its stake in shares of Noah by 17.7% in the 3rd quarter. BNP Paribas Financial Markets now owns 16,070 shares of the asset manager's stock worth $186,000 after purchasing an additional 2,412 shares during the last quarter. Finally, Russell Investments Group Ltd. raised its holdings in shares of Noah by 10.0% in the 2nd quarter. Russell Investments Group Ltd. now owns 35,627 shares of the asset manager's stock worth $429,000 after purchasing an additional 3,251 shares in the last quarter. 42.67% of the stock is owned by institutional investors and hedge funds.

Noah Stock Down 8.0%

The firm has a market capitalization of $698.93 million, a price-to-earnings ratio of 9.39 and a beta of 0.73. The firm's 50 day moving average is $11.66 and its 200 day moving average is $11.23.

About Noah

Noah Holdings Limited is a China-based wealth management and asset management firm specializing in tailored advisory services for high-net-worth individuals, family offices and select institutional clients. The company offers a broad range of investment solutions that draw on its deep market research and partner network to provide access to both onshore and offshore products. Noah's business model centers on delivering structured investment products, portfolio management services and family wealth planning solutions designed to meet the evolving needs of affluent clients in China and beyond.

Noah's main service lines include discretionary portfolio management, fund distribution, private equity and venture capital fund platforms, and alternative investment strategies such as real estate and insurance-linked products.

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