Noah Holdings Limited (NYSE:NOAH) Receives $53.09 Average Target Price from Brokerages

Shares of Noah Holdings Limited (NYSE:NOAH) have received an average recommendation of “Hold” from the six brokerages that are covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $53.09.

Several research firms have issued reports on NOAH. Citigroup cut shares of Noah from a “buy” rating to a “neutral” rating and set a $54.17 target price on the stock. in a research note on Wednesday, April 17th. JPMorgan Chase & Co. cut shares of Noah from an “overweight” rating to a “neutral” rating and lowered their target price for the stock from $55.00 to $52.00 in a research note on Thursday, March 14th. Zacks Investment Research cut shares of Noah from a “hold” rating to a “sell” rating in a research note on Wednesday, March 20th. Finally, Deutsche Bank cut shares of Noah from a “buy” rating to a “hold” rating in a research note on Wednesday, March 13th.

NOAH opened at $38.31 on Thursday. The company has a market capitalization of $2.20 billion, a P/E ratio of 18.69 and a beta of 1.89. Noah has a 12 month low of $34.20 and a 12 month high of $65.63.

Noah (NYSE:NOAH) last released its quarterly earnings data on Thursday, May 16th. The asset manager reported $0.73 EPS for the quarter. The company had revenue of $132.60 million during the quarter. Noah had a net margin of 24.67% and a return on equity of 14.32%. On average, analysts predict that Noah will post 2.76 earnings per share for the current year.

A number of hedge funds and other institutional investors have recently bought and sold shares of NOAH. Yiheng Capital LLC raised its position in shares of Noah by 31.6% during the 4th quarter. Yiheng Capital LLC now owns 2,558,547 shares of the asset manager’s stock valued at $110,836,000 after buying an additional 614,035 shares in the last quarter. Platinum Investment Management Ltd. purchased a new position in Noah in the 1st quarter worth $21,786,000. Norges Bank bought a new stake in Noah in the 4th quarter worth $15,463,000. Candriam Luxembourg S.C.A. bought a new stake in Noah in the 1st quarter worth $16,623,000. Finally, Ward Ferry Management BVI Ltd grew its holdings in Noah by 10.1% in the 1st quarter. Ward Ferry Management BVI Ltd now owns 2,911,732 shares of the asset manager’s stock worth $141,103,000 after acquiring an additional 266,700 shares during the last quarter. Institutional investors and hedge funds own 54.26% of the company’s stock.

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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