Artisan Partners Asset Management (NYSE:APAM) Stock Rating Upgraded by StockNews.com

Artisan Partners Asset Management (NYSE:APAM) was upgraded by StockNews.com from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Wednesday.

Other research analysts also recently issued research reports about the company. TD Cowen increased their price target on Artisan Partners Asset Management from $38.00 to $39.00 and gave the stock a “hold” rating in a research note on Thursday, July 25th. Royal Bank of Canada reiterated an “outperform” rating and set a $50.00 target price on shares of Artisan Partners Asset Management in a research report on Monday, July 29th. Finally, The Goldman Sachs Group reduced their target price on shares of Artisan Partners Asset Management from $40.00 to $39.50 and set a “sell” rating for the company 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 issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $42.83.

Artisan Partners Asset Management Stock Up 0.7 %

APAM opened at $43.50 on Wednesday. Artisan Partners Asset Management has a twelve month low of $32.12 and a twelve month high of $47.08. The company’s 50-day moving average price is $42.29 and its two-hundred day moving average price is $42.28. The stock has a market cap of $3.50 billion, a price-to-earnings ratio of 13.26 and a beta of 1.79. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.54.

Artisan Partners Asset Management (NYSE:APAM) last posted its quarterly earnings data on Tuesday, July 23rd. The asset manager reported $0.82 EPS for the quarter, missing the consensus estimate of $0.87 by ($0.05). Artisan Partners Asset Management had a net margin of 22.75% and a return on equity of 71.76%. The firm 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 company posted $0.71 EPS. Artisan Partners Asset Management’s revenue for the quarter was up 11.5% on a year-over-year basis. As a group, equities analysts expect that Artisan Partners Asset Management will post 3.36 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. Mather Group LLC. bought a new stake in Artisan Partners Asset Management during the first quarter valued at $26,000. Matrix Trust Co bought a new stake in shares of Artisan Partners Asset Management during the 3rd quarter valued at about $30,000. MCF Advisors LLC purchased a new position in shares of Artisan Partners Asset Management during the first quarter worth about $31,000. GAMMA Investing LLC grew its holdings in shares of Artisan Partners Asset Management by 81.5% during the second quarter. GAMMA Investing LLC now owns 775 shares of the asset manager’s stock worth $32,000 after purchasing an additional 348 shares in the last quarter. Finally, Hexagon Capital Partners LLC increased its position in shares of Artisan Partners Asset Management by 41.8% in the third quarter. Hexagon Capital Partners LLC now owns 1,004 shares of the asset manager’s stock worth $43,000 after purchasing an additional 296 shares during the last quarter. 86.45% of the stock is currently owned by hedge funds and other institutional investors.

About Artisan Partners Asset Management

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.