JPMorgan Chase & Co. Issues Pessimistic Forecast for Noah (NYSE:NOAH) Stock Price

Noah (NYSE:NOAH) had its price target dropped by equities researchers at JPMorgan Chase & Co. from $10.50 to $9.70 in a report released on Monday, Benzinga reports. The firm currently has a “neutral” rating on the asset manager’s stock. JPMorgan Chase & Co.‘s target price would indicate a potential upside of 18.29% from the company’s previous close.

A number of other equities research analysts also recently issued reports on NOAH. Zacks Research upgraded Noah from a “strong sell” rating to a “hold” rating in a research note on Monday, May 25th. Weiss Ratings cut shares of Noah from a “hold (c)” rating to a “hold (c-)” rating in a report on Friday, July 10th. Finally, Wall Street Zen cut shares of Noah from a “buy” rating to a “hold” rating in a research note on Saturday, August 8th. Four research analysts have rated the stock with a Hold rating, According to data from MarketBeat, Noah currently has an average rating of “Hold” and an average target price of $9.85.

Noah Trading Up 0.2%

Shares of NOAH opened at $8.20 on Monday. Noah has a 12 month low of $7.97 and a 12 month high of $12.44. The company has a market cap of $560.31 million, a price-to-earnings ratio of 6.67 and a beta of 0.82. The business’s fifty day simple moving average is $8.52 and its two-hundred day simple moving average is $9.73.

Noah (NYSE:NOAH) last announced its quarterly earnings results on Friday, August 14th. The asset manager reported $0.51 EPS for the quarter. Noah had a net margin of 22.57% and a return on equity of 6.37%. The firm had revenue of $91.24 million during the quarter. As a group, research analysts forecast that Noah will post 1.31 EPS for the current year.

Hedge Funds Weigh In On Noah

Large investors have recently made changes to their positions in the business. Dimensional Fund Advisors LP grew its position in shares of Noah by 9.4% during the first quarter. Dimensional Fund Advisors LP now owns 468,510 shares of the asset manager’s stock worth $4,641,000 after purchasing an additional 40,332 shares in the last quarter. State Street Corp grew its holdings in Noah by 2.9% during the 2nd quarter. State Street Corp now owns 322,218 shares of the asset manager’s stock valued at $3,219,000 after buying an additional 8,948 shares in the last quarter. Renaissance Technologies LLC grew its holdings in Noah by 132.4% during the 1st quarter. Renaissance Technologies LLC now owns 95,500 shares of the asset manager’s stock valued at $945,000 after buying an additional 54,400 shares in the last quarter. Hsbc Holdings PLC raised its position in shares of Noah by 47.7% during the fourth quarter. Hsbc Holdings PLC now owns 71,912 shares of the asset manager’s stock valued at $725,000 after buying an additional 23,217 shares during the last quarter. Finally, SG Americas Securities LLC purchased a new position in shares of Noah in the first quarter worth $116,000. 42.67% of the stock is currently owned by hedge funds and other institutional investors.

Noah Company Profile

Noah Holdings Limited (NYSE: NOAH) is a Chinese wealth management and asset management services company. The company provides financial products and advisory services primarily to high-net-worth individuals, families, and institutional clients.

Its wealth management business offers clients access to a range of investment products, including private equity, public securities, credit and other alternative investments. Through its asset management operations, Noah develops and manages investment products and strategies for individual and institutional investors.

Founded in 2005, Noah serves clients through operations in mainland China and other financial centers, including Hong Kong.