Noah Holdings Limited (NYSE:NOAH) Given Consensus Recommendation of “Buy” by Brokerages

Posted by on Jun 2nd, 2022

Shares of Noah Holdings Limited (NYSE:NOAH – Get Rating) have been given a consensus rating of “Buy” by the six analysts that are currently covering the company, Marketbeat reports. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $49.76.

A number of research analysts have weighed in on the stock. Zacks Investment Research cut shares of Noah from a “buy” rating to a “hold” rating in a research report on Tuesday, May 17th. Bank of America reduced their price target on shares of Noah from $51.50 to $35.00 and set a “buy” rating on the stock in a research report on Wednesday, March 16th. Finally, StockNews.com cut shares of Noah from a “buy” rating to a “hold” rating in a research report on Wednesday, May 18th.

NOAH opened at $18.09 on Thursday. The company’s 50 day simple moving average is $19.65 and its 200 day simple moving average is $27.17. Noah has a 1 year low of $15.06 and a 1 year high of $49.88. The stock has a market capitalization of $1.09 billion, a PE ratio of 6.72, a P/E/G ratio of 0.54 and a beta of 1.34.

Noah (NYSE:NOAH – Get Rating) last released its earnings results on Wednesday, May 11th. The asset manager reported $0.73 earnings per share (EPS) for the quarter. Noah had a net margin of 30.16% and a return on equity of 15.27%. The business had revenue of $125.52 million for the quarter. On average, research analysts expect that Noah will post 3.14 earnings per share for the current year.

Several institutional investors and hedge funds have recently bought and sold shares of the company. FIL Ltd raised its stake in shares of Noah by 0.8% during the third quarter. FIL Ltd now owns 4,551,130 shares of the asset manager’s stock valued at $168,983,000 after purchasing an additional 33,938 shares during the period. Tiger Pacific Capital LP increased its stake in shares of Noah by 7.4% in the third quarter. Tiger Pacific Capital LP now owns 2,842,515 shares of the asset manager’s stock worth $105,543,000 after buying an additional 194,674 shares during the last quarter. BlackRock Inc. increased its stake in shares of Noah by 2.4% in the third quarter. BlackRock Inc. now owns 1,814,760 shares of the asset manager’s stock worth $67,383,000 after buying an additional 41,827 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of Noah by 3.2% in the first quarter. Vanguard Group Inc. now owns 1,340,389 shares of the asset manager’s stock worth $31,539,000 after buying an additional 41,294 shares during the last quarter. Finally, Franklin Resources Inc. increased its stake in shares of Noah by 24.8% in the third quarter. Franklin Resources Inc. now owns 616,787 shares of the asset manager’s stock worth $22,901,000 after buying an additional 122,475 shares during the last quarter. Institutional investors own 64.19% of the company’s stock.

About Noah (Get Rating)

Noah Holdings Limited, together with its subsidiaries, operates as a wealth and asset management service provider with the focus on investment and asset allocation services for high net worth individuals and enterprises in Mainland of China, Hong Kong, and internationally. The company operates through three segments: Wealth Management, Asset Management, and Other Businesses.

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