Artisan Partners Asset Management (NYSE:APAM) Rating Lowered to “Strong Sell” at Zacks Research

Artisan Partners Asset Management (NYSE:APAM) was downgraded by research analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a research report issued on Wednesday,Zacks.com reports.

Other equities analysts have also recently issued research reports about the stock. Royal Bank Of Canada upped their target price on shares of Artisan Partners Asset Management from $43.00 to $44.00 and gave the company an “outperform” rating in a research note on Thursday. The Goldman Sachs Group decreased their price objective on shares of Artisan Partners Asset Management from $39.00 to $34.00 and set a “sell” rating for the company in a report on Tuesday, April 7th. Weiss Ratings restated a “hold (c)” rating on shares of Artisan Partners Asset Management in a research report on Thursday, July 2nd. TD Cowen restated a “hold” rating on shares of Artisan Partners Asset Management in a report on Thursday, April 9th. Finally, Evercore set a $36.00 target price on shares of Artisan Partners Asset Management in a research report on Friday, July 10th. One analyst has rated the stock with a Buy rating, three have issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Reduce” and a consensus price target of $39.25.

Artisan Partners Asset Management Trading Down 1.2%

Shares of NYSE:APAM opened at $38.53 on Wednesday. The company has a market cap of $3.10 billion, a P/E ratio of 9.75 and a beta of 1.68. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.82 and a quick ratio of 0.82. Artisan Partners Asset Management has a 1 year low of $33.96 and a 1 year high of $48.46. The stock’s fifty day moving average price is $36.61 and its 200-day moving average price is $38.65.

Artisan Partners Asset Management (NYSE:APAM) last released its quarterly earnings data on Tuesday, April 28th. The asset manager reported $0.87 EPS for the quarter, missing the consensus estimate of $0.91 by ($0.04). Artisan Partners Asset Management had a net margin of 23.49% and a return on equity of 72.99%. The business had revenue of $303.01 million for the quarter, compared to analysts’ expectations of $304.01 million. During the same period last year, the business earned $0.83 earnings per share. The company’s quarterly revenue was up 9.3% on a year-over-year basis. Sell-side analysts expect that Artisan Partners Asset Management will post 3.89 earnings per share for the current year.

Institutional Investors Weigh In On Artisan Partners Asset Management

Several hedge funds and other institutional investors have recently made changes to their positions in APAM. UBS Group AG boosted its holdings in shares of Artisan Partners Asset Management by 21.6% in the fourth quarter. UBS Group AG now owns 279,067 shares of the asset manager’s stock worth $11,369,000 after buying an additional 49,635 shares during the last quarter. Tudor Investment Corp ET AL purchased a new stake in Artisan Partners Asset Management during the third quarter valued at approximately $3,653,000. Louisiana State Employees Retirement System purchased a new stake in Artisan Partners Asset Management during the first quarter valued at approximately $1,135,000. Vestcor Inc increased its holdings in Artisan Partners Asset Management by 154.5% during the fourth quarter. Vestcor Inc now owns 45,733 shares of the asset manager’s stock valued at $1,863,000 after buying an additional 27,762 shares during the last quarter. Finally, Navellier & Associates Inc. bought a new position in Artisan Partners Asset Management in the fourth quarter worth approximately $3,490,000. Hedge funds and other institutional investors 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.