Invesco (NYSE:IVZ) Given New $20.00 Price Target at Evercore ISI

Invesco (NYSE:IVZ) had its target price hoisted by equities research analysts at Evercore ISI from $19.00 to $20.00 in a research report issued on Thursday, Benzinga reports. The brokerage currently has an “in-line” rating on the asset manager’s stock. Evercore ISI’s price objective points to a potential upside of 7.58% from the stock’s current price.

A number of other analysts also recently issued reports on IVZ. The Goldman Sachs Group lifted their price objective on shares of Invesco from $17.50 to $19.50 and gave the stock a “neutral” rating in a report on Wednesday, October 23rd. StockNews.com raised shares of Invesco from a “sell” rating to a “hold” rating in a research note on Friday, October 18th. Royal Bank of Canada boosted their price objective on shares of Invesco from $18.00 to $19.00 and gave the company a “sector perform” rating in a research report on Wednesday, October 23rd. JPMorgan Chase & Co. boosted their price objective on shares of Invesco from $17.00 to $20.00 and gave the company a “neutral” rating in a research report on Monday, October 21st. Finally, UBS Group boosted their price target on shares of Invesco from $17.50 to $19.00 and gave the company a “neutral” rating in a research report on Tuesday, October 22nd. One equities 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. According to data from MarketBeat, Invesco has a consensus rating of “Hold” and an average price target of $18.46.

Invesco Trading Up 4.1 %

Shares of IVZ stock opened at $18.59 on Thursday. Invesco has a 12-month low of $12.68 and a 12-month high of $18.94. The firm has a market cap of $8.37 billion, a P/E ratio of -20.21, a PEG ratio of 1.00 and a beta of 1.44. The company has a quick ratio of 4.91, a current ratio of 4.91 and a debt-to-equity ratio of 0.66. The company has a 50 day moving average of $17.30 and a 200-day moving average of $16.24.

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. CIBC Asset Management Inc raised its position in Invesco by 8.3% in the third quarter. CIBC Asset Management Inc now owns 62,964 shares of the asset manager’s stock worth $1,106,000 after acquiring an additional 4,840 shares during the period. KBC Group NV grew its stake in Invesco by 13.9% during the third quarter. KBC Group NV now owns 24,714 shares of the asset manager’s stock valued at $434,000 after acquiring an additional 3,014 shares in the last quarter. Victory Capital Management Inc. grew its stake in Invesco by 4.5% during the third quarter. Victory Capital Management Inc. now owns 141,469 shares of the asset manager’s stock valued at $2,484,000 after acquiring an additional 6,134 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. grew its stake in Invesco by 9.0% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 14,149 shares of the asset manager’s stock valued at $248,000 after acquiring an additional 1,167 shares in the last quarter. Finally, GSA Capital Partners LLP purchased a new position in Invesco during the third quarter valued at $853,000. Institutional investors own 66.09% of the company’s stock.

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.