Evercore ISI Increases Invesco (NYSE:IVZ) Price Target to $19.00

Invesco (NYSE:IVZ) had its target price upped by stock analysts at Evercore ISI from $18.00 to $19.00 in a research note issued to investors on Wednesday, Benzinga reports. The brokerage currently has an “in-line” rating on the asset manager’s stock. Evercore ISI’s price target points to a potential upside of 7.83% from the company’s previous close.

Other research analysts have also recently issued research reports about the stock. JPMorgan Chase & Co. lifted their price objective on shares of Invesco from $17.00 to $20.00 and gave the company a “neutral” rating in a report on Monday. UBS Group upped their price objective on Invesco from $17.50 to $19.00 and gave the stock a “neutral” rating in a research report on Tuesday. Royal Bank of Canada lifted their target price on Invesco from $17.00 to $18.00 and gave the company a “sector perform” rating in a report on Friday, October 11th. The Goldman Sachs Group upped their price target on Invesco from $17.50 to $19.50 and gave the stock a “neutral” rating in a report on Wednesday. Finally, Deutsche Bank Aktiengesellschaft lifted their price objective on Invesco from $16.00 to $17.00 and gave the company a “hold” rating in a research note on Thursday, August 15th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $18.38.

Invesco Trading Up 0.7 %

IVZ opened at $17.62 on Wednesday. Invesco has a 52 week low of $12.48 and a 52 week high of $18.79. The company has a quick ratio of 5.80, a current ratio of 5.80 and a debt-to-equity ratio of 0.68. The business has a fifty day simple moving average of $17.14 and a 200-day simple moving average of $16.11. The firm has a market cap of $7.93 billion, a P/E ratio of -23.49, a P/E/G ratio of 1.10 and a beta of 1.44.

Invesco (NYSE:IVZ) last announced its earnings results on Tuesday, October 22nd. The asset manager reported $0.44 EPS for the quarter, beating analysts’ consensus estimates of $0.43 by $0.01. The company had revenue of $1.10 billion during the quarter, compared to analysts’ expectations of $1.11 billion. Invesco had a positive return on equity of 8.41% and a negative net margin of 1.73%. Invesco’s revenue for the quarter was down 20.8% on a year-over-year basis. During the same period last year, the business posted $0.35 EPS. On average, equities analysts expect that Invesco will post 1.66 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. State Board of Administration of Florida Retirement System boosted its stake in Invesco by 10.4% in the first quarter. State Board of Administration of Florida Retirement System now owns 470,626 shares of the asset manager’s stock valued at $7,718,000 after acquiring an additional 44,417 shares in the last quarter. Price T Rowe Associates Inc. MD increased its position in Invesco by 4.1% during the first quarter. Price T Rowe Associates Inc. MD now owns 1,497,405 shares of the asset manager’s stock worth $24,843,000 after buying an additional 58,332 shares during the period. Bessemer Group Inc. lifted its stake in Invesco by 5,321.9% in the first quarter. Bessemer Group Inc. now owns 85,341 shares of the asset manager’s stock valued at $1,416,000 after buying an additional 83,767 shares during the last quarter. Greenwood Capital Associates LLC acquired a new stake in shares of Invesco in the first quarter valued at approximately $1,061,000. Finally, Duality Advisers LP grew its position in shares of Invesco by 323.0% during the first quarter. Duality Advisers LP now owns 95,689 shares of the asset manager’s stock worth $1,587,000 after acquiring an additional 73,065 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.