Zacks: Noah Holdings Ltd. (NOAH) Given $33.00 Consensus Target Price by Analysts
Shares of Noah Holdings Ltd. (NYSE:NOAH) have received a consensus broker rating score of 1.00 (Strong Buy) from the one analysts that cover the company, Zacks Investment Research reports. One analyst has rated the stock with a strong buy rating.
Brokerages have set a 12 month consensus target price of $33.00 for the company, according to Zacks. Zacks has also given Noah Holdings an industry rank of 85 out of 265 based on the ratings given to its competitors.
Several analysts recently issued reports on NOAH shares. Zacks Investment Research cut shares of Noah Holdings from a “hold” rating to a “sell” rating in a research note on Wednesday, July 5th. BidaskClub cut shares of Noah Holdings from a “buy” rating to a “hold” rating in a research note on Thursday, September 14th.
Noah Holdings announced that its board has authorized a stock repurchase plan on Thursday, June 29th that permits the company to repurchase $50.00 million in shares. This repurchase authorization permits the asset manager to reacquire shares of its stock through open market purchases. Shares repurchase plans are generally an indication that the company’s board of directors believes its stock is undervalued.
Institutional investors have recently bought and sold shares of the company. Morgan Stanley grew its stake in shares of Noah Holdings by 30.2% in the 1st quarter. Morgan Stanley now owns 481,607 shares of the asset manager’s stock valued at $12,224,000 after buying an additional 111,758 shares during the period. Davis Selected Advisers grew its stake in shares of Noah Holdings by 13.3% in the 2nd quarter. Davis Selected Advisers now owns 1,434,298 shares of the asset manager’s stock valued at $41,093,000 after buying an additional 168,882 shares during the period. Hershey Trust Co. purchased a new stake in shares of Noah Holdings in the 2nd quarter valued at approximately $300,000. JPMorgan Chase & Co. grew its stake in shares of Noah Holdings by 223,587.6% in the 2nd quarter. JPMorgan Chase & Co. now owns 738,169 shares of the asset manager’s stock valued at $21,150,000 after buying an additional 737,839 shares during the period. Finally, Parametric Portfolio Associates LLC grew its stake in shares of Noah Holdings by 47.8% in the 1st quarter. Parametric Portfolio Associates LLC now owns 21,141 shares of the asset manager’s stock valued at $537,000 after buying an additional 6,838 shares during the period. 41.46% of the stock is owned by institutional investors and hedge funds.
TRADEMARK VIOLATION NOTICE: “Zacks: Noah Holdings Ltd. (NOAH) Given $33.00 Consensus Target Price by Analysts” was originally posted by TheOlympiaReport and is owned by of TheOlympiaReport. If you are viewing this article on another publication, it was illegally stolen and republished in violation of United States and international copyright and trademark legislation. The correct version of this article can be read at https://theolympiareport.com/2017/10/13/zacks-noah-holdings-ltd-noah-given-33-00-consensus-target-price-by-analysts.html.
Noah Holdings Company Profile
Noah Holdings Limited is a wealth management service provider with a focus on global wealth investment and asset allocation services for high net worth individuals and enterprises in China. The Company operates through three segments: wealth management, asset management and Internet finance. It also provides Internet finance services to clients in China.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Noah Holdings Ltd. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Noah Holdings Ltd. and related companies with Analyst Ratings Network's FREE daily email newsletter.