Invesco (NYSE:IVZ) Price Target Cut to $17.00 by Analysts at The Goldman Sachs Group

Invesco (NYSE:IVZ) had its price objective lowered by stock analysts at The Goldman Sachs Group from $17.50 to $17.00 in a report issued on Tuesday, Benzinga reports. The brokerage currently has a “neutral” rating on the asset manager’s stock. The Goldman Sachs Group’s target price would suggest a potential upside of 13.26% from the stock’s previous close.

Several other equities research analysts also recently issued reports on the company. BMO Capital Markets restated a “market perform” rating and set a $17.00 target price (down previously from $18.00) on shares of Invesco in a research report on Wednesday, April 24th. Morgan Stanley increased their target price on Invesco from $16.00 to $17.00 and gave the stock an “equal weight” rating in a research report on Wednesday, April 17th. Keefe, Bruyette & Woods restated a “market perform” rating and set a $17.00 target price (down previously from $19.00) on shares of Invesco in a research report on Wednesday, April 24th. StockNews.com upgraded Invesco from a “sell” rating to a “hold” rating in a research report on Monday, June 17th. Finally, TD Cowen lowered their price objective on Invesco from $21.00 to $19.50 and set a “buy” rating on the stock in a research report on Wednesday, April 24th. Ten research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $16.81.

Invesco Stock Performance

Shares of IVZ stock traded up $0.16 during trading on Tuesday, hitting $15.01. The company’s stock had a trading volume of 146,305 shares, compared to its average volume of 4,462,921. Invesco has a 52 week low of $12.48 and a 52 week high of $18.71. The company has a current ratio of 6.89, a quick ratio of 6.89 and a debt-to-equity ratio of 0.77. The business has a fifty day moving average of $15.17 and a 200-day moving average of $15.92. The company has a market cap of $6.75 billion, a PE ratio of -20.01, a P/E/G ratio of 1.13 and a beta of 1.47.

Invesco (NYSE:IVZ) last posted its quarterly earnings data on Tuesday, April 23rd. The asset manager reported $0.33 EPS for the quarter, missing the consensus estimate of $0.40 by ($0.07). Invesco had a negative net margin of 1.74% and a positive return on equity of 7.84%. The firm had revenue of $1.48 billion during the quarter, compared to analysts’ expectations of $1.08 billion. During the same quarter in the previous year, the company posted $0.38 EPS. Invesco’s revenue for the quarter was up 4.0% on a year-over-year basis. As a group, research analysts anticipate that Invesco will post 1.64 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Mariner LLC boosted its holdings in shares of Invesco by 53.8% during the 3rd quarter. Mariner LLC now owns 60,006 shares of the asset manager’s stock valued at $871,000 after buying an additional 20,986 shares in the last quarter. Federated Hermes Inc. boosted its holdings in shares of Invesco by 581.8% during the 3rd quarter. Federated Hermes Inc. now owns 8,448 shares of the asset manager’s stock valued at $123,000 after buying an additional 7,209 shares in the last quarter. O Shaughnessy Asset Management LLC boosted its holdings in shares of Invesco by 18.5% during the 3rd quarter. O Shaughnessy Asset Management LLC now owns 13,212 shares of the asset manager’s stock valued at $192,000 after buying an additional 2,067 shares in the last quarter. Trexquant Investment LP bought a new stake in shares of Invesco during the 3rd quarter valued at $1,083,000. Finally, Quadrature Capital Ltd bought a new stake in shares of Invesco during the 3rd quarter valued at $403,000. 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.