Artisan Partners Asset Management Inc. (NYSE:APAM) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Tuesday. The brokerage currently has a $38.00 price objective on the asset manager’s stock. Zacks Investment Research‘s price target indicates a potential upside of 10.30% from the stock’s previous close.

According to Zacks, “Artisan Partners Asset Management Inc. is an independent investment management firm that provides a broad range of U.S., non-U.S. and global equity investment strategies. The Company’s manages investments primarily through mutual funds and separate accounts. Its clients include pension and profit sharing plans, trusts, endowments, foundations, charitable organizations, government entities, private funds and non-U.S. pooled investment vehicles. Artisan Partners Asset Management Inc. is based in Milwaukee, WI United States. “

APAM has been the topic of several other research reports. TheStreet upgraded Artisan Partners Asset Management from a “c+” rating to a “b-” rating in a research report on Monday, July 17th. Jefferies Group LLC reiterated a “hold” rating and set a $32.00 target price on shares of Artisan Partners Asset Management in a research report on Friday, July 14th. Royal Bank Of Canada set a $36.00 target price on Artisan Partners Asset Management and gave the company a “buy” rating in a research report on Tuesday, August 1st. BidaskClub upgraded Artisan Partners Asset Management from a “hold” rating to a “buy” rating in a research report on Friday, June 30th. Finally, Sidoti upgraded Artisan Partners Asset Management from a “neutral” rating to a “buy” rating in a research report on Friday, August 4th. They noted that the move was a valuation call. One research analyst has rated the stock with a sell rating, four have issued a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $30.56.

Shares of Artisan Partners Asset Management (NYSE:APAM) traded up 1.03% during trading on Tuesday, reaching $34.45. 563,849 shares of the company’s stock traded hands. Artisan Partners Asset Management has a one year low of $24.48 and a one year high of $34.90. The stock has a market cap of $1.71 billion, a P/E ratio of 20.32 and a beta of 1.77. The company has a 50 day moving average price of $31.29 and a 200-day moving average price of $30.01.

Artisan Partners Asset Management (NYSE:APAM) last released its quarterly earnings data on Monday, July 31st. The asset manager reported $0.58 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.59 by ($0.01). Artisan Partners Asset Management had a return on equity of 78.75% and a net margin of 11.37%. The company had revenue of $196.20 million during the quarter, compared to analysts’ expectations of $194.25 million. During the same quarter in the prior year, the company posted $0.53 EPS. The company’s revenue for the quarter was up 8.5% on a year-over-year basis. On average, equities research analysts expect that Artisan Partners Asset Management will post $2.34 EPS for the current fiscal year.

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A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Dynamic Technology Lab Private Ltd acquired a new position in Artisan Partners Asset Management in the 2nd quarter valued at about $403,000. Sterling Capital Management LLC acquired a new position in Artisan Partners Asset Management in the 2nd quarter valued at about $2,150,000. Ameritas Investment Partners Inc. acquired a new position in Artisan Partners Asset Management in the 2nd quarter valued at about $120,000. The Manufacturers Life Insurance Company boosted its stake in shares of Artisan Partners Asset Management by 1,613.0% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 34,997 shares of the asset manager’s stock valued at $1,075,000 after buying an additional 32,954 shares during the period. Finally, State Street Corp boosted its stake in shares of Artisan Partners Asset Management by 63.7% in the 2nd quarter. State Street Corp now owns 1,037,204 shares of the asset manager’s stock valued at $31,842,000 after buying an additional 403,737 shares during the period. 65.63% of the stock is owned by institutional investors.

About Artisan Partners Asset Management

Artisan Partners Asset Management Inc is an investment management company. The Company provides a range of the United States, non-United States and global investment strategies, each of which is managed by one of its investment teams. The Company provides investment management services to separate accounts, mutual funds and other pooled investment vehicles.

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Analyst Recommendations for Artisan Partners Asset Management (NYSE:APAM)

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