Artisan Partners Asset Management Price Target Cut to $69.00 by Analysts at RBC Capital (APAM)
Research analysts at RBC Capital cut their price target on shares of Artisan Partners Asset Management (NASDAQ:APAM) from $71.00 to $69.00 in a report released on Tuesday. The firm currently has an “outperform” rating on the stock. RBC Capital’s price target indicates a potential upside of 27.21% from the stock’s previous close.
A number of other firms have also recently commented on APAM. Analysts at BMO Capital Markets cut their price target on shares of Artisan Partners Asset Management from $58.00 to $57.00 in a research note on Tuesday, July 15th. Separately, analysts at Keefe, Bruyette & Woods downgraded shares of Artisan Partners Asset Management from an “outperform” rating to a “market perform” rating in a research note on Monday, July 14th. They now have a $59.00 price target on the stock, down previously from $69.00. Finally, analysts at Citigroup Inc. downgraded shares of Artisan Partners Asset Management from a “buy” rating to a “neutral” rating in a research note on Wednesday, July 9th. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $67.26.
Shares of Artisan Partners Asset Management (NASDAQ:APAM) traded down 0.26% on Tuesday, hitting $54.24. 668,739 shares of the company’s stock traded hands. Artisan Partners Asset Management has a one year low of $46.02 and a one year high of $71.86. The stock’s 50-day moving average is $55.4 and its 200-day moving average is $59.9. The company’s market cap is $1.580 billion.
Artisan Partners Asset Management (NASDAQ:APAM) last posted its quarterly earnings results on Monday, July 21st. The company reported $0.84 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.82 by $0.02. The company had revenue of $208.50 million for the quarter, compared to the consensus estimate of $211.40 million. During the same quarter in the prior year, the company posted $0.64 earnings per share. The company’s quarterly revenue was up 28.7% on a year-over-year basis. Analysts expect that Artisan Partners Asset Management will post $3.28 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Friday, August 29th. Stockholders of record on Friday, August 15th will be paid a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a dividend yield of 4.06%. The ex-dividend date is Wednesday, August 13th.
Artisan Partners Asset Management Inc, is an independent investment management company that provides a range of 12 equity investment strategies spanning different market capitalization segments and investing styles in both United States and non-United States markets.
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