Artisan Partners Asset Management (NYSE:APAM) Upgraded to "Buy" at StockNews.com

Artisan Partners Asset Management (NYSE:APAM - Get Free Report) was upgraded by equities research analysts at StockNews.com from a "hold" rating to a "buy" rating in a note issued to investors on Wednesday.

Other equities analysts have also recently issued research reports about the stock. TD Cowen boosted their price target on shares of Artisan Partners Asset Management from $38.00 to $39.00 and gave the company a "hold" rating in a research report on Thursday, July 25th. Royal Bank of Canada reissued an "outperform" rating and set a $50.00 price objective on shares of Artisan Partners Asset Management in a research note on Monday, July 29th. Finally, The Goldman Sachs Group dropped their price objective on shares of Artisan Partners Asset Management from $40.00 to $39.50 and set a "sell" rating on the stock in a research note on Thursday, October 3rd. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and two have assigned a buy rating to the company. According to MarketBeat, Artisan Partners Asset Management currently has an average rating of "Hold" and an average target price of $42.83.

Artisan Partners Asset Management Price Performance

Shares of NYSE APAM traded down $0.92 during mid-day trading on Wednesday, reaching $43.20. 421,626 shares of the company were exchanged, compared to its average volume of 445,982. Artisan Partners Asset Management has a 52 week low of $32.12 and a 52 week high of $47.08. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.54. The stock has a market capitalization of $3.47 billion, a PE ratio of 13.17 and a beta of 1.79. The company's 50 day moving average price is $42.22 and its 200 day moving average price is $42.28.

Artisan Partners Asset Management (NYSE:APAM - Get Free Report) last issued its earnings results on Tuesday, July 23rd. The asset manager reported $0.82 EPS for the quarter, missing analysts' consensus estimates of $0.87 by ($0.05). Artisan Partners Asset Management had a return on equity of 71.76% and a net margin of 22.75%. The business had revenue of $270.80 million during the quarter, compared to analysts' expectations of $274.70 million. During the same quarter in the previous year, the business earned $0.71 EPS. Artisan Partners Asset Management's revenue for the quarter was up 11.5% compared to the same quarter last year. Sell-side analysts forecast that Artisan Partners Asset Management will post 3.36 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Artisan Partners Asset Management

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Vaughan Nelson Investment Management L.P. lifted its holdings in shares of Artisan Partners Asset Management by 42.5% in the 1st quarter. Vaughan Nelson Investment Management L.P. now owns 1,331,970 shares of the asset manager's stock worth $60,965,000 after acquiring an additional 397,424 shares during the last quarter. Millennium Management LLC bought a new stake in shares of Artisan Partners Asset Management in the 2nd quarter worth about $10,685,000. Jupiter Asset Management Ltd. purchased a new position in Artisan Partners Asset Management in the 1st quarter worth about $9,907,000. Kayne Anderson Rudnick Investment Management LLC increased its stake in Artisan Partners Asset Management by 2.5% in the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 6,626,937 shares of the asset manager's stock worth $273,494,000 after buying an additional 160,297 shares during the period. Finally, Edgestream Partners L.P. purchased a new position in Artisan Partners Asset Management in the 1st quarter worth about $7,287,000. Institutional investors own 86.45% of the company's stock.

Artisan Partners Asset Management Company Profile

Artisan Partners Asset Management Inc is publicly owned investment manager. It provides its services to pension and profit sharing plans, trusts, endowments, foundations, charitable organizations, government entities, private funds and non-U.S. funds, as well as mutual funds, non-U.S. funds and collective trusts.

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