Noah (NYSE:NOAH) Downgraded by Zacks Investment Research to “Sell”

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

A number of other equities analysts have also commented on the stock. Citigroup raised shares of Noah from a “neutral” rating to a “buy” rating in a research note on Monday, September 16th. ValuEngine raised shares of Noah from a “sell” rating to a “hold” rating in a research note on Friday, November 1st. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $53.09.

Noah stock opened at $33.16 on Friday. The company has a 50 day moving average price of $29.56 and a 200 day moving average price of $35.82. Noah has a 52 week low of $26.48 and a 52 week high of $60.14. The firm has a market capitalization of $2.03 billion, a price-to-earnings ratio of 17.09 and a beta of 1.89.

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

Several large investors have recently modified their holdings of NOAH. Marshall Wace LLP acquired a new stake in shares of Noah during the 1st quarter valued at $49,000. Quantamental Technologies LLC acquired a new stake in shares of Noah during the 2nd quarter valued at $52,000. Skandinaviska Enskilda Banken AB publ acquired a new stake in shares of Noah during the 2nd quarter valued at $55,000. Tower Research Capital LLC TRC boosted its stake in shares of Noah by 5,369.5% during the 3rd quarter. Tower Research Capital LLC TRC now owns 3,227 shares of the asset manager’s stock valued at $94,000 after buying an additional 3,168 shares during the period. Finally, Guinness Asset Management Ltd boosted its stake in shares of Noah by 35.6% during the 3rd quarter. Guinness Asset Management Ltd now owns 3,810 shares of the asset manager’s stock valued at $111,000 after buying an additional 1,000 shares during the period. 50.70% 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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