Zacks Investment Research Downgrades Noah (NYSE:NOAH) to Sell

Noah (NYSE:NOAH) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued to investors on Saturday, Zacks.com reports.

According to Zacks, “Noah Holdings Ltd through its subsidiaries is engaged in providing independent services primarily comprising of distribution of wealth management products to the high net worth population in China. It distributes over-the-counter wealth management products originated in China which mainly includes fixed income products, private equity funds and securities investment funds. The Company also delivers to its clients a continuum of value-added services including financial planning, product analysis and recommendation, product and market updates and investor education. Noah Holdings Ltd is headquartered in Shenzhen, the Peoples’ Republic of China. “

Several other equities analysts have also recently commented on the company. Citigroup raised Noah from a “neutral” rating to a “buy” rating in a report on Monday, September 16th. ValuEngine raised Noah from a “sell” rating to a “hold” rating in a report on Friday, November 1st. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company’s stock. Noah presently has a consensus rating of “Hold” and a consensus target price of $53.09.

Noah stock traded down $0.27 during trading hours on Friday, hitting $32.89. The stock had a trading volume of 182,565 shares, compared to its average volume of 380,594. The company has a 50-day moving average of $29.66 and a two-hundred day moving average of $35.61. The company has a market cap of $2.03 billion, a PE ratio of 16.95 and a beta of 1.89. Noah has a fifty-two week low of $26.48 and a fifty-two week high of $60.14.

Noah (NYSE:NOAH) last posted its quarterly earnings results on Wednesday, August 28th. The asset manager reported $0.62 EPS for the quarter. The firm had revenue of $126.96 million during the quarter. Noah had a return on equity of 14.45% and a net margin of 26.24%. On average, equities analysts anticipate that Noah will post 2.5 earnings per share for the current fiscal year.

Hedge funds have recently added to or reduced their stakes in the company. Guinness Asset Management Ltd raised its holdings in Noah by 13.8% in the 2nd quarter. Guinness Asset Management Ltd now owns 2,810 shares of the asset manager’s stock valued at $120,000 after acquiring an additional 340 shares in the last quarter. Aviva PLC lifted its stake in shares of Noah by 6.9% in the 2nd quarter. Aviva PLC now owns 9,300 shares of the asset manager’s stock valued at $396,000 after purchasing an additional 600 shares during the period. Marshall Wace LLP acquired a new position in shares of Noah in the 1st quarter valued at $49,000. Quantamental Technologies LLC acquired a new position in shares of Noah in the 2nd quarter valued at $52,000. Finally, WINTON GROUP Ltd raised its stake in Noah by 15.1% during the 2nd quarter. WINTON GROUP Ltd now owns 9,543 shares of the asset manager’s stock worth $406,000 after buying an additional 1,251 shares during the period. Institutional investors own 50.70% of the company’s stock.

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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