Zacks Investment Research Upgrades Artisan Partners Asset Management (NYSE:APAM) to “Buy”

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Zacks Investment Research upgraded shares of Artisan Partners Asset Management (NYSE:APAM) from a hold rating to a buy rating in a report issued on Wednesday, Zacks.com reports. They currently have $31.00 price objective on the asset manager’s stock.

According to Zacks, “Artisan Partners Asset Management Inc. is an independent investment management firm that provides a broad range of U.S., non-U.S. and global equity investment strategies. The Company’s manages investments primarily through mutual funds and separate accounts. Its clients include pension and profit sharing plans, trusts, endowments, foundations, charitable organizations, government entities, private funds and non-U.S. pooled investment vehicles. Artisan Partners Asset Management Inc. is based in Milwaukee, WI United States. “

Several other analysts also recently weighed in on the stock. ValuEngine downgraded shares of Woodward, Inc.Common Stock from a buy rating to a hold rating in a research note on Tuesday, April 9th. Citigroup boosted their price target on shares of T. Rowe Price Group from $98.00 to $108.00 and gave the stock a neutral rating in a research note on Monday, April 15th. TheStreet raised shares of Vectrus from a c+ rating to a b rating in a research note on Monday, April 15th. Finally, Bank of America set a $180.00 price target on shares of CME Group and gave the stock a hold rating in a research note on Tuesday, April 9th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the stock. Artisan Partners Asset Management has an average rating of Hold and a consensus target price of $29.80.

Artisan Partners Asset Management stock opened at $28.91 on Wednesday. The company has a debt-to-equity ratio of 3.30, a current ratio of 0.54 and a quick ratio of 0.54. The company has a market capitalization of $2.21 billion, a P/E ratio of 9.83, a PEG ratio of 1.56 and a beta of 1.85. The stock has a fifty day simple moving average of $26.32. Artisan Partners Asset Management has a twelve month low of $20.16 and a twelve month high of $35.50.

Artisan Partners Asset Management (NYSE:APAM) last posted its quarterly earnings results on Tuesday, April 30th. The asset manager reported $0.55 earnings per share for the quarter, hitting the consensus estimate of $0.55. The business had revenue of $187.00 million during the quarter, compared to the consensus estimate of $186.26 million. Artisan Partners Asset Management had a net margin of 18.48% and a return on equity of 172.79%. The firm’s revenue for the quarter was down 11.8% on a year-over-year basis. During the same period in the previous year, the firm posted $0.78 earnings per share. As a group, analysts predict that Artisan Partners Asset Management will post 2.61 earnings per share for the current year.

Hedge funds have recently added to or reduced their stakes in the business. Meeder Asset Management Inc. increased its position in shares of Artisan Partners Asset Management by 230.6% in the first quarter. Meeder Asset Management Inc. now owns 3,065 shares of the asset manager’s stock valued at $77,000 after acquiring an additional 2,138 shares during the period. O Shaughnessy Asset Management LLC increased its position in shares of Artisan Partners Asset Management by 65.4% during the first quarter. O Shaughnessy Asset Management LLC now owns 4,469 shares of the asset manager’s stock valued at $112,000 after buying an additional 1,767 shares during the period. Great West Life Assurance Co. Can increased its position in shares of Artisan Partners Asset Management by 7.5% during the fourth quarter. Great West Life Assurance Co. Can now owns 7,268 shares of the asset manager’s stock valued at $153,000 after buying an additional 504 shares during the period. SG Americas Securities LLC purchased a new position in shares of Artisan Partners Asset Management during the first quarter valued at about $156,000. Finally, NumerixS Investment Technologies Inc purchased a new position in shares of Artisan Partners Asset Management during the first quarter valued at about $182,000. Hedge funds and other institutional investors own 63.55% 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.

Further Reading: Certificate of Deposit (CD) For Risk Adverse Investors?

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