Invesco (NYSE:IVZ) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Wednesday. The firm currently has a $41.00 price objective on the asset manager’s stock. Zacks Investment Research‘s price target would indicate a potential upside of 12.79% from the company’s current price.
According to Zacks, “Shares of Invesco have significantly underperformed the industry over the last six months. Yet, the company has an impressive earnings surprise history, having surpassed the Zacks Consensus Estimate in all the trailing four quarters. With an aim to enhance its exchange-traded funds (ETF) operation, the company inked a deal to acquire the ETF business of Guggenheim Partners LLC. Also, strong balance sheet position along with cost savings efforts, improving assets under management (AUM) and diverse product offerings are likely to continue supporting growth. However, high-debt levels and amortization of goodwill and intangible assets might adversely affect its profitability in the long run.”
IVZ has been the topic of several other reports. ValuEngine raised Invesco from a “hold” rating to a “buy” rating in a research note on Wednesday, December 6th. Morgan Stanley cut Invesco from an “overweight” rating to a “hold” rating and set a $39.00 target price on the stock. in a research note on Wednesday. Citigroup lifted their price target on Invesco from $38.50 to $39.50 and gave the company a “buy” rating in a research report on Tuesday, October 3rd. Barclays began coverage on Invesco in a research report on Friday, September 8th. They set an “overweight” rating and a $38.00 price target on the stock. Finally, Jefferies Group lifted their price target on Invesco from $41.00 to $42.00 and gave the company a “buy” rating in a research report on Friday, November 3rd. One investment analyst has rated the stock with a sell rating, five have given a hold rating and nine have given a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $39.17.
Invesco (NYSE:IVZ) last posted its earnings results on Thursday, October 26th. The asset manager reported $0.71 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.66 by $0.05. Invesco had a return on equity of 13.02% and a net margin of 18.99%. The firm had revenue of $976.60 million for the quarter, compared to analysts’ expectations of $940.96 million. During the same period in the previous year, the firm earned $0.60 earnings per share. The business’s revenue was up 14.3% compared to the same quarter last year. sell-side analysts anticipate that Invesco will post 2.66 EPS for the current fiscal year.
In other Invesco news, insider Colin Meadows sold 54,215 shares of the business’s stock in a transaction on Tuesday, October 31st. The stock was sold at an average price of $36.01, for a total value of $1,952,282.15. Following the sale, the insider now directly owns 164,420 shares of the company’s stock, valued at $5,920,764.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 1.80% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the business. Sun Life Financial INC bought a new stake in Invesco in the third quarter worth $145,000. Valeo Financial Advisors LLC bought a new stake in Invesco in the third quarter worth $160,000. C M Bidwell & Associates Ltd. bought a new stake in Invesco in the second quarter worth $185,000. ETRADE Capital Management LLC bought a new stake in Invesco in the third quarter worth $205,000. Finally, Financial Counselors Inc. bought a new stake in Invesco in the second quarter worth $215,000. 81.30% of the stock is currently owned by institutional investors and hedge funds.
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Invesco Company Profile
Invesco Ltd. (Invesco) is an independent investment management company. The Company provides a range of investment capabilities and outcomes, which are delivered through a set of investment vehicles, to help clients achieve their investment objectives. It has a presence in the retail and institutional markets within the investment management industry in North America; Europe, Middle East and Africa (EMEA), and Asia-Pacific.
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