Artisan Partners Asset Management Price Target Cut to $71.00 by Analysts at Jefferies Group (APAM)
Investment analysts at Jefferies Group decreased their price target on shares of Artisan Partners Asset Management (NASDAQ:APAM) from $75.00 to $71.00 in a note issued to investors on Wednesday. The firm currently has a “buy” rating on the stock. Jefferies Group’s price target would suggest a potential upside of 30.90% from the stock’s previous close.
A number of other firms have also recently commented on APAM. Analysts at RBC Capital cut their price target on shares of Artisan Partners Asset Management from $71.00 to $69.00 in a research note on Tuesday. They now have an “outperform” rating on the stock. Separately, 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. Finally, 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. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $68.11.
Shares of Artisan Partners Asset Management (NASDAQ:APAM) opened at 54.24 on Wednesday. Artisan Partners Asset Management has a one year low of $46.02 and a one year high of $71.86. The stock has a 50-day moving average of $55.4 and a 200-day moving average of $59.9. The company’s market cap is $1.580 billion.
Artisan Partners Asset Management (NASDAQ:APAM) last released its earnings data on Monday, July 21st. The company reported $0.84 earnings per share for the quarter, beating the analysts’ 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 last year, the company posted $0.64 earnings per share. Artisan Partners Asset Management’s revenue was up 28.7% compared to the same quarter last year. Analysts expect that Artisan Partners Asset Management will post $3.28 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Friday, August 29th. Shareholders of record on Friday, August 15th will be given a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a yield of 4.06%. The ex-dividend date of this dividend 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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