Noah (NOAH) Lifted to Buy at Zacks Investment Research

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Zacks Investment Research upgraded shares of Noah (NYSE:NOAH) from a hold rating to a buy rating in a report issued on Tuesday. The brokerage currently has $49.00 target price on the asset manager’s stock.

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. “

A number of other research analysts also recently commented on NOAH. ValuEngine raised Noah from a buy rating to a strong-buy rating in a report on Saturday, June 2nd. Nomura downgraded Noah from a buy rating to a neutral rating in a report on Wednesday, May 30th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. Noah currently has a consensus rating of Buy and a consensus price target of $53.50.

Shares of NOAH opened at $43.69 on Tuesday. The stock has a market capitalization of $2.54 billion, a P/E ratio of 21.65 and a beta of 2.15. Noah has a one year low of $26.53 and a one year high of $69.56. The company has a quick ratio of 3.17, a current ratio of 4.03 and a debt-to-equity ratio of 0.06.

Large investors have recently added to or reduced their stakes in the business. Guinness Asset Management Ltd lifted its holdings in Noah by 1,050.0% during the 2nd quarter. Guinness Asset Management Ltd now owns 2,300 shares of the asset manager’s stock worth $120,000 after buying an additional 2,100 shares during the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. bought a new position in Noah during the 2nd quarter worth approximately $158,000. SG Americas Securities LLC lifted its holdings in Noah by 52.0% during the 1st quarter. SG Americas Securities LLC now owns 3,495 shares of the asset manager’s stock worth $165,000 after buying an additional 1,195 shares during the last quarter. Voya Investment Management LLC acquired a new stake in shares of Noah during the 2nd quarter worth approximately $229,000. Finally, Dai Ichi Life Insurance Company Ltd acquired a new stake in shares of Noah during the 2nd quarter worth approximately $261,000. 48.52% of the stock is currently owned by institutional investors.

About Noah

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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