Invesco’s (IVZ) “Hold” Rating Reiterated at Credit Suisse Group

Invesco (NYSE:IVZ)‘s stock had its “hold” rating reissued by analysts at Credit Suisse Group in a report released on Friday, AnalystRatings.com reports. They currently have a $10.00 target price on the asset manager’s stock. Credit Suisse Group’s target price would suggest a potential downside of 0.40% from the company’s previous close.

Several other research firms have also issued reports on IVZ. Wells Fargo & Co decreased their target price on Invesco from $9.50 to $7.00 and set an “underweight” rating on the stock in a research note on Friday, April 24th. ValuEngine raised Invesco from a “strong sell” rating to a “sell” rating in a research note on Monday, June 1st. Royal Bank of Canada increased their target price on Invesco from $10.00 to $11.00 and gave the stock a “sector perform” rating in a research note on Thursday. Zacks Investment Research lowered Invesco from a “hold” rating to a “sell” rating and set a $8.00 target price on the stock. in a research note on Monday, April 6th. Finally, Morgan Stanley increased their target price on Invesco from $8.00 to $11.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 2nd. Five analysts have rated the stock with a sell rating, nine have given a hold rating and two have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $10.44.

Shares of NYSE IVZ traded down $0.06 during mid-day trading on Friday, reaching $10.04. 6,865,878 shares of the company’s stock were exchanged, compared to its average volume of 5,446,305. The firm has a market capitalization of $4.61 billion, a price-to-earnings ratio of 9.84, a PEG ratio of 1.10 and a beta of 1.48. The company has a debt-to-equity ratio of 0.88, a quick ratio of 1.71 and a current ratio of 1.71. Invesco has a 52-week low of $6.38 and a 52-week high of $19.37. The company’s 50-day moving average is $10.58 and its 200-day moving average is $11.66.

Invesco (NYSE:IVZ) last posted its earnings results on Tuesday, July 28th. The asset manager reported $0.35 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.43 by ($0.08). Invesco had a return on equity of 9.90% and a net margin of 8.15%. The firm had revenue of $1.03 billion for the quarter, compared to analyst estimates of $1.04 billion. During the same period in the previous year, the company posted $0.65 EPS. Invesco’s revenue was up .2% on a year-over-year basis. As a group, equities analysts predict that Invesco will post 1.53 earnings per share for the current fiscal year.

Several hedge funds and other institutional investors have recently modified their holdings of IVZ. Prudential PLC acquired a new stake in shares of Invesco during the 1st quarter worth about $43,899,000. Norges Bank acquired a new stake in shares of Invesco during the 4th quarter worth about $69,260,000. Contrarius Investment Management Ltd acquired a new stake in shares of Invesco during the 1st quarter worth about $27,675,000. Bank of New York Mellon Corp raised its position in shares of Invesco by 34.8% during the 1st quarter. Bank of New York Mellon Corp now owns 11,814,228 shares of the asset manager’s stock worth $107,274,000 after acquiring an additional 3,047,716 shares in the last quarter. Finally, Parametric Portfolio Associates LLC raised its position in shares of Invesco by 42.3% during the 1st quarter. Parametric Portfolio Associates LLC now owns 3,789,361 shares of the asset manager’s stock worth $34,407,000 after acquiring an additional 1,126,953 shares in the last quarter. 65.21% of the stock is currently owned by institutional investors and hedge funds.

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.

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Analyst Recommendations for Invesco (NYSE:IVZ)

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