Evercore ISI Cuts Invesco (NYSE:IVZ) Price Target to $13.00

Invesco (NYSE:IVZ) had its price target lowered by equities research analysts at Evercore ISI from $18.00 to $13.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage presently has an “in-line” rating on the asset manager’s stock. Evercore ISI’s target price indicates a potential upside of 5.82% from the stock’s current price.

IVZ has been the topic of a number of other reports. UBS Group increased their price target on Invesco from $17.00 to $21.00 and gave the stock a “neutral” rating in a research report on Monday, February 3rd. Citigroup lowered their target price on Invesco from $20.00 to $16.00 and set a “neutral” rating for the company in a research note on Monday, March 31st. Wells Fargo & Company cut their price target on Invesco from $19.50 to $14.50 and set an “underweight” rating for the company in a report on Tuesday. Keefe, Bruyette & Woods reissued a “market perform” rating and set a $20.00 price objective (up previously from $18.00) on shares of Invesco in a report on Wednesday, January 29th. Finally, TD Cowen downgraded shares of Invesco from a “buy” rating to a “hold” rating and dropped their target price for the stock from $22.00 to $13.00 in a research note on Wednesday. One equities research analyst has rated the stock with a sell rating, fourteen have issued a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $18.10.

Invesco Price Performance

Shares of NYSE:IVZ traded down $0.41 on Friday, hitting $12.29. The stock had a trading volume of 1,648,729 shares, compared to its average volume of 4,206,104. The firm’s 50 day moving average price is $16.12 and its 200-day moving average price is $17.18. The company has a debt-to-equity ratio of 0.49, a quick ratio of 4.91 and a current ratio of 4.91. Invesco has a twelve month low of $11.60 and a twelve month high of $19.55. The company has a market capitalization of $5.50 billion, a price-to-earnings ratio of 10.39, a price-to-earnings-growth ratio of 0.98 and a beta of 1.26.

Invesco (NYSE:IVZ) last released its quarterly earnings results on Tuesday, January 28th. The asset manager reported $0.52 EPS for the quarter, beating analysts’ consensus estimates of $0.51 by $0.01. Invesco had a net margin of 12.77% and a return on equity of 8.18%. On average, equities research analysts predict that Invesco will post 1.87 earnings per share for the current year.

Institutional Trading of Invesco

Several institutional investors and hedge funds have recently made changes to their positions in the business. Wilmington Savings Fund Society FSB bought a new position in shares of Invesco in the 3rd quarter worth $35,000. Colonial Trust Co SC acquired a new position in Invesco in the fourth quarter valued at about $38,000. Aster Capital Management DIFC Ltd boosted its holdings in Invesco by 180.5% during the fourth quarter. Aster Capital Management DIFC Ltd now owns 2,379 shares of the asset manager’s stock worth $42,000 after buying an additional 1,531 shares during the last quarter. Crews Bank & Trust acquired a new position in shares of Invesco during the 4th quarter worth about $44,000. Finally, Versant Capital Management Inc grew its position in shares of Invesco by 264.1% during the 1st quarter. Versant Capital Management Inc now owns 3,080 shares of the asset manager’s stock worth $47,000 after buying an additional 2,234 shares during the period. Institutional investors own 66.09% of the company’s stock.

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.