Invesco (NYSE:IVZ) Stock Rating Lowered by ValuEngine

Invesco (NYSE:IVZ) was downgraded by analysts at ValuEngine from a “sell” rating to a “strong sell” rating in a research report issued to clients and investors on Friday, ValuEngine reports.

A number of other research firms also recently issued reports on IVZ. Wells Fargo & Co lifted their target price on Invesco from $17.00 to $18.00 and gave the company a “market perform” rating in a research report on Thursday, October 24th. JPMorgan Chase & Co. downgraded Invesco from an “overweight” rating to a “neutral” rating and set a $22.00 target price on the stock. in a research report on Thursday, September 12th. Barclays lifted their target price on Invesco from $16.00 to $17.00 and gave the company an “equal weight” rating in a research report on Thursday, October 24th. BMO Capital Markets lowered their target price on Invesco from $18.00 to $17.00 and set a “market perform” rating on the stock in a research report on Thursday, October 24th. Finally, Morgan Stanley set a $18.00 target price on Invesco and gave the company a “hold” rating in a research report on Friday, October 25th. Three analysts have rated the stock with a sell rating, eleven have given a hold rating and one has issued a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $19.14.

Shares of Invesco stock traded down $0.05 during trading on Friday, reaching $17.82. The stock had a trading volume of 3,852,593 shares, compared to its average volume of 4,864,206. The company has a market capitalization of $8.22 billion, a price-to-earnings ratio of 7.33, a P/E/G ratio of 0.90 and a beta of 1.54. The stock has a fifty day moving average price of $16.58 and a two-hundred day moving average price of $18.52. Invesco has a 52 week low of $15.15 and a 52 week high of $22.18. The company has a current ratio of 1.57, a quick ratio of 1.57 and a debt-to-equity ratio of 0.78.

Invesco (NYSE:IVZ) last issued its quarterly earnings results on Wednesday, October 23rd. The asset manager reported $0.70 EPS for the quarter, beating analysts’ consensus estimates of $0.57 by $0.13. The company had revenue of $1.23 billion for the quarter, compared to analyst estimates of $1.22 billion. Invesco had a return on equity of 10.60% and a net margin of 8.86%. The company’s quarterly revenue was up 27.1% compared to the same quarter last year. During the same period in the previous year, the company posted $0.66 earnings per share. On average, equities analysts forecast that Invesco will post 2.58 EPS for the current fiscal year.

A number of hedge funds and other institutional investors have recently made changes to their positions in IVZ. Marshall Wace LLP acquired a new position in Invesco during the first quarter worth approximately $396,000. Fulton Bank N.A. increased its position in Invesco by 71.2% during the second quarter. Fulton Bank N.A. now owns 43,013 shares of the asset manager’s stock worth $880,000 after buying an additional 17,889 shares during the last quarter. DNB Asset Management AS increased its position in Invesco by 154.6% during the second quarter. DNB Asset Management AS now owns 119,252 shares of the asset manager’s stock worth $2,440,000 after buying an additional 72,412 shares during the last quarter. Crossmark Global Holdings Inc. increased its position in Invesco by 8.7% during the second quarter. Crossmark Global Holdings Inc. now owns 86,720 shares of the asset manager’s stock worth $1,774,000 after buying an additional 6,925 shares during the last quarter. Finally, Zions Bancorporation N.A. increased its position in Invesco by 78.6% during the second quarter. Zions Bancorporation N.A. now owns 31,303 shares of the asset manager’s stock worth $640,000 after buying an additional 13,781 shares during the last quarter. 67.25% of the stock is currently owned by hedge funds and other institutional investors.

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.

Recommended Story: Buy Rating

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Analyst Recommendations for Invesco (NYSE:IVZ)

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