Morgan Stanley Forecasts Strong Price Appreciation for Invesco (NYSE:IVZ) Stock

Invesco (NYSE:IVZ) had its target price increased by Morgan Stanley from $18.00 to $19.00 in a research report issued on Friday,Benzinga reports. The firm presently has an “equal weight” rating on the asset manager’s stock. Morgan Stanley’s price objective suggests a potential upside of 9.01% from the company’s current price.

A number of other research firms also recently weighed in on IVZ. Keefe, Bruyette & Woods cut their price target on shares of Invesco from $19.00 to $18.00 and set a “market perform” rating on the stock in a research note on Friday. Deutsche Bank Aktiengesellschaft boosted their price target on Invesco from $18.00 to $19.00 and gave the company a “hold” rating in a research report on Monday, November 11th. JPMorgan Chase & Co. raised their price objective on Invesco from $17.00 to $20.00 and gave the stock a “neutral” rating in a report on Monday, October 21st. The Goldman Sachs Group boosted their target price on Invesco from $17.50 to $19.50 and gave the stock a “neutral” rating in a report on Wednesday, October 23rd. Finally, Royal Bank of Canada raised their price target on shares of Invesco from $18.00 to $19.00 and gave the company a “sector perform” rating in a report on Wednesday, October 23rd. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $18.88.

Invesco Price Performance

Shares of NYSE IVZ traded up $0.65 during trading on Friday, reaching $17.43. The company had a trading volume of 1,567,271 shares, compared to its average volume of 4,093,097. The company has a current ratio of 4.91, a quick ratio of 4.91 and a debt-to-equity ratio of 0.66. The stock has a market capitalization of $7.83 billion, a PE ratio of -18.95, a price-to-earnings-growth ratio of 1.06 and a beta of 1.43. Invesco has a twelve month low of $14.16 and a twelve month high of $18.94. The stock has a 50-day moving average price of $17.88 and a two-hundred day moving average price of $16.80.

Invesco (NYSE:IVZ) last announced its earnings results on Tuesday, October 22nd. The asset manager reported $0.44 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.43 by $0.01. Invesco had a negative net margin of 3.00% and a positive return on equity of 8.83%. The firm had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.11 billion. During the same quarter last year, the business earned $0.35 earnings per share. Invesco’s revenue was down 20.8% compared to the same quarter last year. As a group, sell-side analysts predict that Invesco will post 1.69 earnings per share for the current year.

Institutional Trading of Invesco

Institutional investors and hedge funds have recently made changes to their positions in the stock. Sumitomo Mitsui Trust Holdings Inc. boosted its stake in Invesco by 27.7% during the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 12,982 shares of the asset manager’s stock valued at $194,000 after purchasing an additional 2,815 shares during the period. Raymond James & Associates grew its holdings in Invesco by 34.8% in the 2nd quarter. Raymond James & Associates now owns 89,610 shares of the asset manager’s stock worth $1,341,000 after buying an additional 23,120 shares in the last quarter. Fifth Third Bancorp increased its position in 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 acquiring an additional 963 shares during the period. Family Firm Inc. bought a new stake in Invesco during the 2nd quarter valued at $28,000. Finally, Bank of New York Mellon Corp raised its stake in Invesco by 1.2% during the 2nd quarter. Bank of New York Mellon Corp now owns 2,489,388 shares of the asset manager’s stock valued at $37,241,000 after acquiring an additional 30,016 shares in the last quarter. 66.09% of the stock is currently owned by institutional investors and hedge funds.

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.