Invesco (NYSE:IVZ) Price Target Raised to $19.00

Invesco (NYSE:IVZ) had its price objective raised by analysts at Evercore ISI from $18.00 to $19.00 in a research report issued on Wednesday, Benzinga reports. The firm presently has an “in-line” rating on the asset manager’s stock. Evercore ISI’s price target would indicate a potential upside of 8.70% from the company’s current price.

A number of other research firms also recently weighed in on IVZ. Morgan Stanley lifted their price target on shares of Invesco from $16.00 to $17.00 and gave the company an “equal weight” rating in a research report on Friday, October 18th. The Goldman Sachs Group lifted their price target on shares of Invesco from $17.50 to $19.50 and gave the company a “neutral” rating in a research report on Wednesday. Barclays lifted their price objective on shares of Invesco from $18.00 to $19.00 and gave the company an “equal weight” rating in a research note on Wednesday. Royal Bank of Canada lifted their price objective on shares of Invesco from $17.00 to $18.00 and gave the company a “sector perform” rating in a research note on Friday, October 11th. Finally, Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Invesco from $16.00 to $17.00 and gave the company a “hold” rating in a research note on Thursday, August 15th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, Invesco presently has a consensus rating of “Hold” and a consensus price target of $18.29.

Invesco Stock Performance

NYSE:IVZ traded down $0.56 during mid-day trading on Wednesday, hitting $17.48. The stock had a trading volume of 1,531,780 shares, compared to its average volume of 4,244,351. The company’s 50 day simple moving average is $17.10 and its 200 day simple moving average is $16.09. The company has a debt-to-equity ratio of 0.68, a quick ratio of 5.80 and a current ratio of 5.80. The stock has a market cap of $7.86 billion, a price-to-earnings ratio of -23.35, a PEG ratio of 1.10 and a beta of 1.44. Invesco has a twelve month low of $12.48 and a twelve month high of $18.79.

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

Institutional Investors Weigh In On Invesco

Several hedge funds and other institutional investors have recently made changes to their positions in IVZ. Wealthcare Advisory Partners LLC increased its position in shares of Invesco by 9.5% during the first quarter. Wealthcare Advisory Partners LLC now owns 38,284 shares of the asset manager’s stock worth $635,000 after acquiring an additional 3,327 shares in the last quarter. Hennion & Walsh Asset Management Inc. increased its position in shares of Invesco by 53.4% during the first quarter. Hennion & Walsh Asset Management Inc. now owns 54,426 shares of the asset manager’s stock worth $903,000 after acquiring an additional 18,942 shares in the last quarter. Aviance Capital Partners LLC increased its position in shares of Invesco by 2.9% during the first quarter. Aviance Capital Partners LLC now owns 64,931 shares of the asset manager’s stock worth $1,077,000 after acquiring an additional 1,829 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. bought a new stake in shares of Invesco during the first quarter worth about $169,000. Finally, Norden Group LLC bought a new stake in shares of Invesco during the first quarter worth about $450,000. 66.09% of the stock is owned by institutional investors.

About Invesco

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.