Artisan Partners Asset Management (NYSE:APAM) Issues Earnings Results, Beats Expectations By $0.01 EPS

Artisan Partners Asset Management (NYSE:APAM) posted its earnings results on Tuesday. The asset manager reported $0.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.91 by $0.01, Briefing.com reports. Artisan Partners Asset Management had a return on equity of 71.76% and a net margin of 22.75%. The firm had revenue of $279.60 million during the quarter, compared to analysts’ expectations of $279.70 million. During the same period in the previous year, the firm earned $0.75 earnings per share. The company’s revenue was up 12.4% on a year-over-year basis.

Artisan Partners Asset Management Stock Up 3.0 %

NYSE APAM traded up $1.32 during trading hours on Wednesday, hitting $44.88. 231,797 shares of the company traded hands, compared to its average volume of 443,421. The business’s 50-day moving average is $42.48 and its 200-day moving average is $42.22. Artisan Partners Asset Management has a twelve month low of $32.32 and a twelve month high of $47.08. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.71 and a current ratio of 0.71. The stock has a market capitalization of $3.61 billion, a price-to-earnings ratio of 13.28 and a beta of 1.79.

Analysts Set New Price Targets

APAM has been the subject of a number of research analyst reports. Royal Bank of Canada reissued an “outperform” rating and issued a $50.00 target price on shares of Artisan Partners Asset Management in a research note on Monday, July 29th. TD Cowen boosted their target price on Artisan Partners Asset Management from $38.00 to $39.00 and gave the company a “hold” rating in a research note on Thursday, July 25th. StockNews.com raised Artisan Partners Asset Management from a “hold” rating to a “buy” rating in a research note on Wednesday, October 23rd. Finally, The Goldman Sachs Group reduced their price objective on Artisan Partners Asset Management from $40.00 to $39.50 and set a “sell” rating for the company in a research report on Thursday, October 3rd. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $42.83.

Artisan Partners Asset Management Company Profile

Artisan Partners Asset Management Inc is publicly owned investment manager. It provides its services to pension and profit sharing plans, trusts, endowments, foundations, charitable organizations, government entities, private funds and non-U.S. funds, as well as mutual funds, non-U.S. funds and collective trusts.