TD Cowen Forecasts Strong Price Appreciation for Artisan Partners Asset Management (NYSE:APAM) Stock

Key Points

• TD Cowen raised its price target for Artisan Partners Asset Management from $35 to $37 while maintaining a “hold” rating, implying 7.11% downside from the prior close.
• Analyst sentiment remains cautious, with one Buy, three Hold, and two Sell ratings producing a consensus “Reduce” rating and an average price target of $37.75.
• Artisan Partners exceeded quarterly expectations, reporting $0.94 EPS versus $0.91 expected and $307.9 million in revenue, up 8.9% year over year.

Artisan Partners Asset Management (NYSE:APAM - Get Free Report) had its target price increased by stock analysts at TD Cowen from $35.00 to $37.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm presently has a "hold" rating on the asset manager's stock. TD Cowen's price target points to a potential downside of 7.11% from the stock's previous close.

APAM has been the topic of a number of other reports. Evercore set a $36.00 price target on shares of Artisan Partners Asset Management in a research report on Friday, July 10th. Weiss Ratings restated a "hold (c)" rating on shares of Artisan Partners Asset Management in a research note on Thursday, July 2nd. Wall Street Zen cut Artisan Partners Asset Management from a "buy" rating to a "hold" rating in a research report on Saturday, April 11th. Royal Bank Of Canada raised their price target on Artisan Partners Asset Management from $43.00 to $44.00 and gave the stock an "outperform" rating in a report on Thursday, July 23rd. Finally, Zacks Research downgraded Artisan Partners Asset Management from a "hold" rating to a "strong sell" rating in a research note on Wednesday, July 22nd. One analyst has rated the stock with a Buy rating, three have given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Reduce" and an average price target of $37.75.

Artisan Partners Asset Management Stock Performance

Shares of APAM traded down $0.51 during mid-day trading on Thursday, hitting $39.83. The stock had a trading volume of 173,696 shares, compared to its average volume of 756,001. Artisan Partners Asset Management has a fifty-two week low of $33.96 and a fifty-two week high of $48.46. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.44. The company has a market cap of $3.21 billion, a PE ratio of 9.65 and a beta of 1.68. The company's fifty day simple moving average is $36.91 and its two-hundred day simple moving average is $38.57.

Artisan Partners Asset Management (NYSE:APAM - Get Free Report) last posted its quarterly earnings results on Tuesday, July 28th. The asset manager reported $0.94 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.91 by $0.03. The business had revenue of $307.90 million for the quarter, compared to analyst estimates of $301.32 million. Artisan Partners Asset Management had a return on equity of 73.71% and a net margin of 24.08%.The business's revenue was up 8.9% compared to the same quarter last year. During the same period in the prior year, the company posted $0.83 EPS. On average, equities analysts expect that Artisan Partners Asset Management will post 3.89 earnings per share for the current year.

Institutional Trading of Artisan Partners Asset Management

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in APAM. Eagle Bay Advisors LLC bought a new position in Artisan Partners Asset Management in the fourth quarter worth $32,000. Triumph Capital Management raised its stake in shares of Artisan Partners Asset Management by 112.5% in the fourth quarter. Triumph Capital Management now owns 850 shares of the asset manager's stock worth $35,000 after acquiring an additional 450 shares during the last quarter. Garton & Associates Financial Advisors LLC acquired a new position in shares of Artisan Partners Asset Management during the fourth quarter worth approximately $37,000. IFP Advisors Inc grew its stake in shares of Artisan Partners Asset Management by 45.8% during the third quarter. IFP Advisors Inc now owns 955 shares of the asset manager's stock valued at $41,000 after purchasing an additional 300 shares during the last quarter. Finally, Aster Capital Management DIFC Ltd bought a new stake in shares of Artisan Partners Asset Management during the fourth quarter valued at approximately $51,000. 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 a global investment management firm that specializes in active, fundamental research-driven strategies across a range of equity, fixed income and alternative asset classes. Founded in 1994 by Andrew Ziegler, the company has built a reputation for its team-based approach to portfolio construction, emphasizing deep sector expertise and independent analysis. Its product lineup includes U.S. and international equity strategies, global emerging markets, as well as credit and multisector fixed income offerings.

Artisan Partners serves a diverse client base that spans institutional investors, intermediaries and high-net-worth individuals located in North America, Europe and Asia.

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