Invesco (NYSE:IVZ) Price Target Cut to $13.00 by Analysts at Evercore ISI

Invesco (NYSE:IVZ) had its target price lowered by analysts at Evercore ISI from $18.00 to $13.00 in a report issued on Friday,Benzinga reports. The brokerage currently has an “in-line” rating on the asset manager’s stock. Evercore ISI’s target price would indicate a potential upside of 1.90% from the company’s current price.

Other research analysts also recently issued research reports about the stock. TD Cowen downgraded shares of Invesco from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $22.00 to $13.00 in a report on Wednesday. Morgan Stanley upped their target price on shares of Invesco from $18.00 to $19.00 and gave the stock an “equal weight” rating in a report on Thursday, February 6th. Keefe, Bruyette & Woods reiterated a “market perform” rating and set a $20.00 price target (up previously from $18.00) on shares of Invesco in a research note on Wednesday, January 29th. Wells Fargo & Company lowered their price objective on Invesco from $19.50 to $14.50 and set an “underweight” rating for the company in a research note on Tuesday, April 8th. Finally, Citigroup cut their target price on Invesco from $20.00 to $16.00 and set a “neutral” rating on the stock in a research report on Monday, March 31st. One research analyst has rated the stock with a sell rating, fourteen have given a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $18.10.

Invesco Stock Performance

Shares of Invesco stock opened at $12.76 on Friday. The business has a 50-day simple moving average of $16.01 and a 200 day simple moving average of $17.15. 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. The firm has a market capitalization of $5.71 billion, a price-to-earnings ratio of 10.81, a PEG ratio of 0.98 and a beta of 1.26.

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

Institutional Trading of Invesco

Hedge funds have recently added to or reduced their stakes in the stock. Wilmington Savings Fund Society FSB purchased a new stake in shares of Invesco during the 3rd quarter worth approximately $35,000. Colonial Trust Co SC bought a new position in Invesco during the fourth quarter valued at $38,000. Aster Capital Management DIFC Ltd increased its position in Invesco by 180.5% in 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 bought a new stake in shares of Invesco in the fourth quarter valued at $44,000. Finally, Versant Capital Management Inc lifted 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 valued at $47,000 after buying an additional 2,234 shares during the last quarter. 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.