Evercore ISI Raises Invesco (NYSE:IVZ) Price Target to $18.00

Invesco (NYSE:IVZ) had its target price lifted by stock analysts at Evercore ISI from $17.00 to $18.00 in a note issued to investors on Tuesday, Benzinga reports. The brokerage presently has an “in-line” rating on the asset manager’s stock. Evercore ISI’s target price would suggest a potential upside of 6.23% from the company’s current price.

A number of other equities research analysts have also weighed in on IVZ. JPMorgan Chase & Co. lowered their price objective on Invesco from $17.00 to $16.50 and set a “neutral” rating for the company in a research note on Wednesday, April 24th. StockNews.com upgraded shares of Invesco from a “sell” rating to a “hold” rating in a research note on Wednesday, August 14th. BMO Capital Markets reiterated a “market perform” rating and set a $17.00 price objective (down from $18.00) on shares of Invesco in a research note on Wednesday, April 24th. Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $17.00 target price (down previously from $19.00) on shares of Invesco in a research report on Wednesday, April 24th. Finally, TD Cowen reduced their price target on shares of Invesco from $21.00 to $19.50 and set a “buy” rating on the stock in a research report on Wednesday, April 24th. Eleven investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $17.13.

Invesco Stock Performance

Invesco stock opened at $16.95 on Tuesday. The company has a debt-to-equity ratio of 0.68, a quick ratio of 6.89 and a current ratio of 5.80. Invesco has a one year low of $12.48 and a one year high of $18.28. The stock’s 50 day moving average price is $15.78 and its 200 day moving average price is $15.66. The firm has a market capitalization of $7.62 billion, a PE ratio of -22.59, a price-to-earnings-growth ratio of 1.16 and a beta of 1.47.

Invesco (NYSE:IVZ) last announced its earnings results on Tuesday, July 23rd. The asset manager reported $0.43 earnings per share for the quarter, beating the consensus estimate of $0.40 by $0.03. Invesco had a negative net margin of 1.73% and a positive return on equity of 8.41%. The business had revenue of $1.09 billion during the quarter, compared to the consensus estimate of $1.09 billion. During the same period in the prior year, the firm earned $0.31 earnings per share. The business’s quarterly revenue was down .4% compared to the same quarter last year. As a group, sell-side analysts expect that Invesco will post 1.65 EPS for the current fiscal year.

Hedge Funds Weigh In On Invesco

Institutional investors have recently made changes to their positions in the stock. Gables Capital Management Inc. boosted its position in Invesco by 74.9% during the 4th quarter. Gables Capital Management Inc. now owns 1,634 shares of the asset manager’s stock valued at $29,000 after purchasing an additional 700 shares during the period. Family Firm Inc. bought a new position in shares of Invesco during the second quarter worth about $28,000. Sentry Investment Management LLC bought a new stake in Invesco in the 2nd quarter valued at about $30,000. Quarry LP acquired a new position in Invesco during the 4th quarter valued at about $37,000. Finally, EverSource Wealth Advisors LLC grew its position in Invesco by 182.0% in the 4th quarter. EverSource Wealth Advisors LLC now owns 2,462 shares of the asset manager’s stock worth $44,000 after purchasing an additional 1,589 shares during the last quarter. 66.09% of the stock is owned by 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.