Evercore ISI Issues Positive Forecast for Artisan Partners Asset Management (NYSE:APAM) Stock Price

Artisan Partners Asset Management (NYSE:APAM) had its price objective lifted by equities research analysts at Evercore ISI from $40.00 to $44.00 in a research note issued to investors on Thursday, Benzinga reports. The firm presently has an “in-line” rating on the asset manager’s stock. Evercore ISI’s target price would suggest a potential downside of 10.19% from the stock’s previous close.

Several other analysts also recently commented on the stock. Royal Bank of Canada reaffirmed an “outperform” rating and set a $50.00 price objective on shares of Artisan Partners Asset Management in a research report on Monday, July 29th. StockNews.com raised shares of Artisan Partners Asset Management from a “hold” rating to a “buy” rating in a research report on Tuesday. TD Cowen raised their price objective on shares of Artisan Partners Asset Management from $41.00 to $43.00 and gave the stock a “hold” rating in a research report on Thursday, October 31st. Finally, The Goldman Sachs Group reduced their price objective on shares of Artisan Partners Asset Management from $40.00 to $39.50 and set a “sell” rating for the company in a research report on Thursday, October 3rd. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $44.13.

Artisan Partners Asset Management Stock Performance

Shares of APAM opened at $48.99 on Thursday. The company has a current ratio of 0.68, a quick ratio of 0.71 and a debt-to-equity ratio of 0.49. The firm’s fifty day simple moving average is $42.94 and its two-hundred day simple moving average is $42.35. Artisan Partners Asset Management has a 12 month low of $34.94 and a 12 month high of $49.30. The stock has a market capitalization of $3.94 billion, a P/E ratio of 13.65 and a beta of 1.79.

Artisan Partners Asset Management (NYSE:APAM) last announced its earnings results on Tuesday, October 29th. The asset manager reported $0.92 EPS for the quarter, beating the consensus estimate of $0.90 by $0.02. The company had revenue of $279.60 million for the quarter, compared to analyst estimates of $279.70 million. Artisan Partners Asset Management had a return on equity of 71.51% and a net margin of 23.95%. The firm’s revenue for the quarter was up 12.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.75 EPS. As a group, analysts predict that Artisan Partners Asset Management will post 3.49 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the business. UniSuper Management Pty Ltd acquired a new position in shares of Artisan Partners Asset Management during the first quarter valued at about $734,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its holdings in shares of Artisan Partners Asset Management by 11.9% during the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 400,134 shares of the asset manager’s stock valued at $18,314,000 after buying an additional 42,522 shares during the last quarter. Vaughan Nelson Investment Management L.P. grew its holdings in shares of Artisan Partners Asset Management by 7.7% during the second quarter. Vaughan Nelson Investment Management L.P. now owns 1,434,391 shares of the asset manager’s stock valued at $59,197,000 after buying an additional 102,421 shares during the last quarter. Jupiter Asset Management Ltd. acquired a new position in shares of Artisan Partners Asset Management during the first quarter valued at about $9,907,000. Finally, Raymond James & Associates grew its holdings in shares of Artisan Partners Asset Management by 8.0% during the third quarter. Raymond James & Associates now owns 453,638 shares of the asset manager’s stock valued at $19,652,000 after buying an additional 33,618 shares during the last quarter. 86.45% of the stock is owned by 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.