Artisan Partners Asset Management (NYSE:APAM – Get Rating) had its price target hoisted by stock analysts at Credit Suisse Group from $29.50 to $30.00 in a research note issued to investors on Thursday, Benzinga reports. The brokerage currently has a "neutral" rating on the asset manager's stock. Credit Suisse Group's target price suggests a potential downside of 19.94% from the company's previous close.
A number of other brokerages also recently weighed in on APAM. The Goldman Sachs Group raised their price objective on Artisan Partners Asset Management from $26.00 to $31.00 and gave the company a "neutral" rating in a research report on Wednesday, November 23rd. TheStreet downgraded Artisan Partners Asset Management from a "b-" rating to a "c+" rating in a research report on Wednesday, October 19th. Royal Bank of Canada raised their price objective on Artisan Partners Asset Management from $35.00 to $39.00 and gave the company an "outperform" rating in a research report on Tuesday. Finally, StockNews.com initiated coverage on Artisan Partners Asset Management in a research report on Wednesday, October 12th. They set a "hold" rating on the stock. Five investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $34.75.
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APAM stock opened at $37.47 on Thursday. The company has a quick ratio of 0.59, a current ratio of 0.59 and a debt-to-equity ratio of 0.78. The business's fifty day simple moving average is $33.57 and its two-hundred day simple moving average is $33.00. Artisan Partners Asset Management has a twelve month low of $25.67 and a twelve month high of $43.67. The firm has a market cap of $2.98 billion, a price-to-earnings ratio of 12.79 and a beta of 1.83.
Artisan Partners Asset Management (NYSE:APAM – Get Rating) last posted its quarterly earnings results on Wednesday, February 1st. The asset manager reported $0.65 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.62 by $0.03. Artisan Partners Asset Management had a return on equity of 99.80% and a net margin of 20.82%. The business had revenue of $226.00 million for the quarter, compared to the consensus estimate of $222.60 million. During the same quarter in the prior year, the company earned $1.29 EPS. The business's revenue was down 28.3% compared to the same quarter last year. Analysts predict that Artisan Partners Asset Management will post 2.6 earnings per share for the current year.Institutional Inflows and Outflows
Several institutional investors have recently modified their holdings of the company. Acadian Asset Management LLC purchased a new position in Artisan Partners Asset Management during the first quarter valued at approximately $26,000. Castle Wealth Management LLC purchased a new position in Artisan Partners Asset Management during the second quarter valued at approximately $27,000. Eagle Bay Advisors LLC purchased a new position in Artisan Partners Asset Management during the second quarter valued at approximately $29,000. Geneos Wealth Management Inc. grew its holdings in Artisan Partners Asset Management by 95.3% in the first quarter. Geneos Wealth Management Inc. now owns 840 shares of the asset manager's stock valued at $33,000 after purchasing an additional 410 shares during the period. Finally, Venture Visionary Partners LLC acquired a new stake in Artisan Partners Asset Management in the second quarter valued at approximately $32,000. 82.53% of the stock is currently owned by hedge funds and other institutional investors.
Artisan Partners Asset Management Company Profile
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Artisan Partners Asset Management, Inc operates as an investment management company, which provides investment strategies to clients globally. It offers investment management services to institutions and through intermediaries that operate with institutional-like decision-making processes and have longer-term investment horizons, by means of separate accounts and mutual funds.
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