Morgan Stanley Raises Invesco (NYSE:IVZ) Price Target to $17.00

Invesco (NYSE:IVZ) had its price target increased by Morgan Stanley from $16.00 to $17.00 in a research report released on Friday, Benzinga reports. They currently have an equal weight rating on the asset manager’s stock.

IVZ has been the subject of several other research reports. Royal Bank of Canada boosted their price objective on shares of Invesco from $17.00 to $18.00 and gave the stock a “sector perform” rating in a research note on Friday, October 11th. Evercore ISI upped their price target on Invesco from $17.00 to $18.00 and gave the stock an “in-line” rating in a research report on Tuesday, August 20th. Barclays initiated coverage on Invesco in a research note on Tuesday, August 27th. They set an “equal weight” rating and a $18.00 target price on the stock. StockNews.com upgraded Invesco from a “sell” rating to a “hold” rating in a research note on Friday. Finally, The Goldman Sachs Group raised their price target on Invesco from $17.25 to $17.50 and gave the stock a “neutral” rating in a report on Thursday, October 10th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, Invesco has a consensus rating of “Hold” and an average price target of $17.71.

Invesco Stock Down 3.3 %

Shares of NYSE IVZ opened at $18.01 on Friday. The stock has a market capitalization of $8.10 billion, a PE ratio of -24.01, a price-to-earnings-growth ratio of 1.10 and a beta of 1.44. The company has a current ratio of 5.80, a quick ratio of 5.80 and a debt-to-equity ratio of 0.68. Invesco has a 12-month low of $12.48 and a 12-month high of $18.79. The stock’s fifty day simple moving average is $17.03 and its two-hundred day simple moving average is $16.07.

Invesco (NYSE:IVZ) last posted its earnings results on Tuesday, July 23rd. The asset manager reported $0.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.40 by $0.03. The company had revenue of $1.09 billion for the quarter, compared to analyst estimates of $1.09 billion. Invesco had a positive return on equity of 8.41% and a negative net margin of 1.73%. The firm’s quarterly revenue was down .4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.31 earnings per share. As a group, analysts expect that Invesco will post 1.66 EPS for the current fiscal year.

Hedge Funds Weigh In On Invesco

A number of institutional investors have recently bought and sold shares of the business. Centennial Wealth Advisory LLC increased its stake in shares of Invesco by 3.8% in the second quarter. Centennial Wealth Advisory LLC now owns 18,279 shares of the asset manager’s stock worth $273,000 after acquiring an additional 669 shares during the period. Wright Investors Service Inc. raised its stake in shares of Invesco by 2.1% during the 1st quarter. Wright Investors Service Inc. now owns 46,787 shares of the asset manager’s stock valued at $776,000 after buying an additional 944 shares during the last quarter. Northwestern Mutual Wealth Management Co. raised its stake in shares of Invesco by 1.4% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 66,881 shares of the asset manager’s stock valued at $1,001,000 after buying an additional 946 shares during the last quarter. Fifth Third Bancorp lifted its holdings in shares of Invesco by 6.1% in the 2nd quarter. Fifth Third Bancorp now owns 16,622 shares of the asset manager’s stock valued at $249,000 after buying an additional 963 shares during the period. Finally, DekaBank Deutsche Girozentrale boosted its stake in shares of Invesco by 11.9% in the first quarter. DekaBank Deutsche Girozentrale now owns 9,471 shares of the asset manager’s stock worth $155,000 after buying an additional 1,010 shares during the last quarter. 66.09% of the stock is owned by hedge funds and other institutional investors.

Invesco Company Profile

Invesco Ltd. is a publicly owned investment manager. The firm provides its services to retail clients, institutional clients, high-net worth clients, public entities, corporations, unions, non-profit organizations, endowments, foundations, pension funds, financial institutions, and sovereign wealth funds.