Royal Bank of Canada Forecasts Strong Price Appreciation for Artisan Partners Asset Management (NYSE:APAM) Stock

Artisan Partners Asset Management (NYSE:APAM - Get Free Report) had its price target raised by Royal Bank of Canada from $43.00 to $44.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage presently has an "outperform" rating on the asset manager's stock. Royal Bank of Canada's price target points to a potential upside of 10.38% from the stock's previous close.

A number of other research analysts have also commented on the company. TD Securities raised their price target on Artisan Partners Asset Management from $35.00 to $39.00 and gave the company a "hold" rating in a report on Thursday, May 1st. Evercore ISI decreased their price objective on shares of Artisan Partners Asset Management from $33.00 to $32.00 and set an "in-line" rating for the company in a report on Thursday, May 1st. StockNews.com cut shares of Artisan Partners Asset Management from a "buy" rating to a "hold" rating in a research report on Tuesday, April 8th. Finally, TD Cowen reduced their target price on shares of Artisan Partners Asset Management from $46.00 to $35.00 and set a "hold" rating for the company in a report on Wednesday, April 9th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, Artisan Partners Asset Management has an average rating of "Hold" and an average price target of $37.90.

Artisan Partners Asset Management Stock Performance

NYSE:APAM traded down $0.16 during mid-day trading on Tuesday, hitting $39.86. The stock had a trading volume of 93,029 shares, compared to its average volume of 474,713. Artisan Partners Asset Management has a 52 week low of $32.75 and a 52 week high of $49.54. The company has a current ratio of 0.56, a quick ratio of 0.73 and a debt-to-equity ratio of 0.47. The stock has a market capitalization of $3.20 billion, a price-to-earnings ratio of 10.96 and a beta of 1.80. The company has a 50 day simple moving average of $38.45 and a 200-day simple moving average of $42.70.

Artisan Partners Asset Management (NYSE:APAM - Get Free Report) last issued its quarterly earnings data on Tuesday, April 29th. The asset manager reported $0.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.76 by $0.07. Artisan Partners Asset Management had a return on equity of 74.02% and a net margin of 23.36%. The business had revenue of $277.10 million during the quarter, compared to the consensus estimate of $281.15 million. During the same period in the previous year, the firm posted $0.76 earnings per share. The business's revenue was up 4.8% on a year-over-year basis. On average, research analysts expect that Artisan Partners Asset Management will post 3.6 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Artisan Partners Asset Management

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in APAM. Barclays PLC lifted its holdings in shares of Artisan Partners Asset Management by 0.6% in the third quarter. Barclays PLC now owns 430,422 shares of the asset manager's stock valued at $18,646,000 after purchasing an additional 2,455 shares in the last quarter. Tidal Investments LLC purchased a new stake in Artisan Partners Asset Management in the 3rd quarter worth about $1,801,000. Franklin Resources Inc. boosted its position in Artisan Partners Asset Management by 7.0% during the 3rd quarter. Franklin Resources Inc. now owns 47,799 shares of the asset manager's stock worth $2,120,000 after acquiring an additional 3,147 shares during the period. GAMMA Investing LLC grew its stake in Artisan Partners Asset Management by 31.0% during the 4th quarter. GAMMA Investing LLC now owns 1,478 shares of the asset manager's stock valued at $64,000 after acquiring an additional 350 shares in the last quarter. Finally, Range Financial Group LLC acquired a new position in shares of Artisan Partners Asset Management in the 4th quarter valued at about $425,000. Institutional investors and hedge funds own 86.45% 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.