Artisan Partners Asset Management (NYSE:APAM) Rating Increased to Buy at Goldman Sachs Group

Artisan Partners Asset Management (NYSE:APAM) was upgraded by investment analysts at Goldman Sachs Group from a “sell” rating to a “buy” rating in a research report issued on Friday, MarketBeat Ratings reports. The brokerage currently has a $44.00 price target on the asset manager’s stock. Goldman Sachs Group’s price objective would indicate a potential upside of 21.45% from the company’s current price.

A number of other analysts have also issued reports on the stock. Bank of America lifted their price target on shares of Artisan Partners Asset Management from $35.00 to $39.00 and gave the stock a “buy” rating in a research note on Friday, July 10th. ValuEngine lowered shares of Artisan Partners Asset Management from a “sell” rating to a “strong sell” rating in a research note on Thursday, July 2nd. Zacks Investment Research upgraded shares of Artisan Partners Asset Management from a “hold” rating to a “strong-buy” rating and set a $35.00 price target for the company in a research note on Monday, June 29th. Keefe, Bruyette & Woods upgraded shares of Artisan Partners Asset Management from a “market perform” rating to an “outperform” rating and lifted their price target for the stock from $25.00 to $34.00 in a research note on Thursday, April 30th. Finally, TheStreet upgraded shares of Artisan Partners Asset Management from a “c+” rating to a “b-” rating in a research note on Wednesday, May 20th. One investment analyst has rated the stock with a sell rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $39.17.

APAM opened at $36.23 on Friday. The firm has a market capitalization of $2.85 billion, a P/E ratio of 13.32, a P/E/G ratio of 2.14 and a beta of 2.03. The firm’s 50 day moving average is $32.66 and its 200-day moving average is $29.38. Artisan Partners Asset Management has a 52-week low of $17.69 and a 52-week high of $38.09. The company has a quick ratio of 0.62, a current ratio of 0.62 and a debt-to-equity ratio of 2.68.

Artisan Partners Asset Management (NYSE:APAM) last issued its quarterly earnings results on Tuesday, July 28th. The asset manager reported $0.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.61 by $0.10. The business had revenue of $203.00 million during the quarter, compared to analyst estimates of $192.01 million. Artisan Partners Asset Management had a net margin of 20.41% and a return on equity of 178.20%. The business’s revenue was up 1.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.67 earnings per share. Equities analysts expect that Artisan Partners Asset Management will post 2.99 earnings per share for the current fiscal year.

A number of hedge funds have recently added to or reduced their stakes in the business. State Street Corp increased its stake in Artisan Partners Asset Management by 3.5% during the first quarter. State Street Corp now owns 1,151,415 shares of the asset manager’s stock valued at $24,744,000 after purchasing an additional 39,086 shares during the last quarter. Channing Capital Management LLC boosted its holdings in shares of Artisan Partners Asset Management by 9.4% during the first quarter. Channing Capital Management LLC now owns 1,151,197 shares of the asset manager’s stock valued at $24,739,000 after acquiring an additional 99,165 shares during the period. Federated Hermes Inc. boosted its holdings in shares of Artisan Partners Asset Management by 47,068.8% during the first quarter. Federated Hermes Inc. now owns 1,048,091 shares of the asset manager’s stock valued at $22,523,000 after acquiring an additional 1,045,869 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Artisan Partners Asset Management by 2.0% during the fourth quarter. Geode Capital Management LLC now owns 920,366 shares of the asset manager’s stock valued at $29,746,000 after acquiring an additional 17,617 shares during the period. Finally, Nuveen Asset Management LLC boosted its holdings in shares of Artisan Partners Asset Management by 69.0% during the fourth quarter. Nuveen Asset Management LLC now owns 806,276 shares of the asset manager’s stock valued at $26,058,000 after acquiring an additional 329,246 shares during the period. Hedge funds and other institutional investors own 64.70% of the company’s stock.

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.

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Analyst Recommendations for Artisan Partners Asset Management (NYSE:APAM)

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