Noah (NOAH) Cut to Hold at Zacks Investment Research

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Zacks Investment Research cut shares of Noah (NYSE:NOAH) from a strong-buy rating to a hold rating in a research note issued to investors on Wednesday morning.

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 research analysts have also recently weighed in on NOAH. Nomura raised Noah from a neutral rating to a buy rating in a research note on Thursday, July 19th. Deutsche Bank initiated coverage on Noah in a research note on Wednesday, September 12th. They issued a buy rating for the company. Finally, ValuEngine cut Noah from a hold rating to a sell rating in a research note on Thursday, October 4th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the company’s stock. The company presently has a consensus rating of Hold and an average price target of $53.50.

Noah stock traded up $2.55 during trading hours on Wednesday, hitting $40.26. The stock had a trading volume of 12,473 shares, compared to its average volume of 317,992. The company has a current ratio of 4.03, a quick ratio of 4.03 and a debt-to-equity ratio of 0.06. The company has a market capitalization of $2.14 billion, a PE ratio of 19.27 and a beta of 2.02. Noah has a one year low of $34.20 and a one year high of $69.56.

Noah (NYSE:NOAH) last posted its earnings results on Tuesday, August 28th. The asset manager reported $0.45 EPS for the quarter. The firm had revenue of $121.26 million during the quarter. Noah had a return on equity of 17.17% and a net margin of 26.20%. As a group, analysts predict that Noah will post 2.45 earnings per share for the current fiscal year.

Several hedge funds have recently modified their holdings of NOAH. Guinness Atkinson Asset Management Inc acquired a new stake in Noah during the second quarter worth approximately $3,092,000. Hillhouse Capital Management Ltd. acquired a new stake in Noah in the second quarter valued at approximately $46,515,000. Sumitomo Mitsui Trust Holdings Inc. acquired a new stake in Noah in the second quarter valued at approximately $4,489,000. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. acquired a new stake in Noah in the second quarter valued at approximately $158,000. Finally, Caisse DE Depot ET Placement DU Quebec acquired a new stake in Noah in the second quarter valued at approximately $2,415,000. 48.42% of the stock is owned by institutional investors.

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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