Evercore ISI Forecasts Strong Price Appreciation for Invesco (NYSE:IVZ) Stock

Invesco (NYSE:IVZ) had its price objective hoisted by analysts at Evercore ISI from $13.00 to $15.00 in a report issued on Wednesday,Benzinga reports. The brokerage currently has an “in-line” rating on the asset manager’s stock. Evercore ISI’s price objective would suggest a potential upside of 6.46% from the company’s current price.

A number of other research firms also recently commented on IVZ. Wells Fargo & Company cut their target price on shares of Invesco from $19.50 to $14.50 and set an “underweight” rating on the stock in a research report on Tuesday, April 8th. UBS Group boosted 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. JPMorgan Chase & Co. decreased their price objective on Invesco from $19.00 to $16.00 and set a “neutral” rating for the company in a research note on Wednesday, April 16th. Morgan Stanley cut their target price on Invesco from $16.00 to $15.00 and set an “equal weight” rating on the stock in a research note on Thursday, April 17th. Finally, Bank of America lowered their price target on shares of Invesco from $19.00 to $18.00 and set a “neutral” rating on the stock in a report on Thursday, April 3rd. One equities research analyst has rated the stock with a sell rating, fourteen have issued a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $17.25.

Invesco Price Performance

Shares of IVZ stock opened at $14.09 on Wednesday. The company has a market capitalization of $6.31 billion, a P/E ratio of 11.94, a P/E/G ratio of 0.98 and a beta of 1.26. The company’s 50-day simple moving average is $15.01 and its two-hundred day simple moving average is $16.88. Invesco has a one year low of $11.60 and a one year high of $19.55. The company has a debt-to-equity ratio of 0.49, a current ratio of 4.91 and a quick ratio of 4.91.

Invesco (NYSE:IVZ) last released its quarterly earnings data on Tuesday, April 22nd. The asset manager reported $0.44 EPS for the quarter, topping the consensus estimate of $0.39 by $0.05. The company had revenue of $1.11 billion for the quarter, compared to the consensus estimate of $1.11 billion. Invesco had a return on equity of 8.18% and a net margin of 12.77%. During the same period last year, the business posted $0.33 EPS. As a group, equities analysts anticipate that Invesco will post 1.87 EPS for the current year.

Institutional Inflows and Outflows

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