Zacks: Noah Holdings Limited (NOAH) Receives Consensus Rating of “Strong Buy” from Analysts

Noah Holdings Limited (NYSE:NOAH) has been assigned an average broker rating score of 1.00 (Strong Buy) from the two brokers that cover the company, Zacks Investment Research reports. Two equities research analysts have rated the stock with a strong buy rating.

Brokers have set a twelve-month consensus price target of $58.00 for the company, according to Zacks. Zacks has also assigned Noah an industry rank of 181 out of 255 based on the ratings given to its competitors.

A number of research firms have commented on NOAH. ValuEngine upgraded Noah from a “buy” rating to a “strong-buy” rating in a research note on Saturday, June 2nd. Nomura cut Noah from a “buy” rating to a “neutral” rating in a research note on Wednesday, May 30th. Finally, JPMorgan Chase & Co. increased their price target on Noah from $52.00 to $58.00 and gave the company an “overweight” rating in a research note on Tuesday, April 10th.

Noah remained flat at $$53.02 during midday trading on Wednesday, Marketbeat reports. The company’s stock had a trading volume of 352,869 shares, compared to its average volume of 400,278. The company has a debt-to-equity ratio of 0.10, a quick ratio of 3.17 and a current ratio of 3.17. Noah has a 52 week low of $26.53 and a 52 week high of $69.56. The stock has a market capitalization of $3.09 billion, a PE ratio of 26.38 and a beta of 2.33.

Noah (NYSE:NOAH) last released its quarterly earnings results on Tuesday, May 29th. The asset manager reported $0.71 EPS for the quarter. Noah had a return on equity of 18.76% and a net margin of 27.94%. The company had revenue of $132.47 million during the quarter. equities research analysts predict that Noah will post 2.31 EPS for the current fiscal year.

Hedge funds have recently made changes to their positions in the company. Artisan Partners Limited Partnership increased its holdings in shares of Noah by 2.5% in the first quarter. Artisan Partners Limited Partnership now owns 114,924 shares of the asset manager’s stock valued at $5,426,000 after purchasing an additional 2,770 shares during the period. BlackRock Inc. increased its holdings in shares of Noah by 8.3% in the fourth quarter. BlackRock Inc. now owns 431,266 shares of the asset manager’s stock valued at $19,958,000 after purchasing an additional 33,067 shares during the period. BB&T Securities LLC acquired a new position in shares of Noah in the fourth quarter valued at about $228,000. Jane Street Group LLC acquired a new position in shares of Noah in the fourth quarter valued at about $333,000. Finally, William Blair Investment Management LLC acquired a new position in shares of Noah in the fourth quarter valued at about $11,324,000. 47.04% of the stock is currently owned by institutional investors and hedge funds.

Noah Company Profile

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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