Should Value Investors Buy Noah Holdings (NOAH) Stock?
Here at Zacks, our focus is on the proven Zacks Rank system, which emphasizes earnings estimates and estimate revisions to find great stocks. Nevertheless, we are always paying attention to the latest value, growth, and momentum trends to underscore strong picks.
Of these, value investing is easily one of the most popular ways to find great stocks in any market environment. Value investors rely on traditional forms of analysis on key valuation metrics to find stocks that they believe are undervalued, leaving room for profits.
In addition to the Zacks Rank, investors looking for stocks with specific traits can utilize our Style Scores system. Of course, value investors will be most interested in the system's "Value" category. Stocks with "A" grades for Value and high Zacks Ranks are among the best value stocks available at any given moment.
One company to watch right now is Noah Holdings (NOAH). NOAH is currently sporting a Zacks Rank #2 (Buy) and an A for Value. The stock has a Forward P/E ratio of 8.5. This compares to its industry's average Forward P/E of 16.43. Over the last 12 months, NOAH's Forward P/E has been as high as 10.83 and as low as 3.83, with a median of 6.99.
Value investors also use the P/S ratio. The P/S ratio is calculated as price divided by sales. This is a preferred metric because revenue can't really be manipulated, so sales are often a truer performance indicator. NOAH has a P/S ratio of 2.25. This compares to its industry's average P/S of 2.97.
Value investors will likely look at more than just these metrics, but the above data helps show that Noah Holdings is likely undervalued currently. And when considering the strength of its earnings outlook, NOAH sticks out as one of the market's strongest value stocks.
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This article originally published on Zacks Investment Research (zacks.com).
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