Noah (NOAH) Cut to Neutral at Citigroup

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Citigroup lowered shares of Noah (NYSE:NOAH) from a buy rating to a neutral rating in a report issued on Wednesday morning, Benzinga reports. They currently have $54.17 price objective on the asset manager’s stock.

NOAH has been the subject of several other reports. ValuEngine upgraded shares of Noah from a sell rating to a hold rating in a research note on Wednesday, January 2nd. Zacks Investment Research downgraded shares of Noah from a hold rating to a sell rating in a research note on Tuesday, January 1st. Deutsche Bank downgraded shares of Noah from a buy rating to a hold rating in a research note on Wednesday, March 13th. Finally, JPMorgan Chase & Co. downgraded shares of Noah from an overweight rating to a neutral rating and lowered their price objective for the stock from $55.00 to $52.00 in a research note on Thursday, March 14th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the stock. Noah has an average rating of Hold and an average target price of $51.72.

NYSE NOAH opened at $53.90 on Wednesday. Noah has a 12-month low of $34.20 and a 12-month high of $69.56. The company has a debt-to-equity ratio of 0.02, a quick ratio of 3.77 and a current ratio of 3.21. The firm has a market capitalization of $3.09 billion, a price-to-earnings ratio of 27.78 and a beta of 1.65.

Noah (NYSE:NOAH) last posted its quarterly earnings data on Tuesday, March 12th. The asset manager reported $0.37 EPS for the quarter. Noah had a net margin of 24.75% and a return on equity of 15.00%. The business had revenue of $119.57 million during the quarter. Sell-side analysts anticipate that Noah will post 2.84 EPS for the current year.

A number of hedge funds and other institutional investors have recently bought and sold shares of NOAH. Macquarie Group Ltd. acquired a new position in Noah during the third quarter valued at $156,000. Advisors Asset Management Inc. lifted its position in Noah by 24.0% during the fourth quarter. Advisors Asset Management Inc. now owns 3,725 shares of the asset manager’s stock valued at $161,000 after purchasing an additional 722 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. lifted its position in Noah by 46.4% during the fourth quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 4,424 shares of the asset manager’s stock valued at $187,000 after purchasing an additional 1,403 shares during the period. Virtu Financial LLC acquired a new position in Noah during the first quarter valued at $209,000. Finally, Cambridge Investment Research Advisors Inc. acquired a new position in Noah during the fourth quarter valued at $227,000. Institutional investors own 51.74% of the company’s stock.

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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