Invesco (IVZ) Price Target Lowered to $21.00 at Credit Suisse Group

Invesco (NYSE:IVZ) had its price target cut by research analysts at Credit Suisse Group from $27.00 to $21.00 in a report issued on Monday, The Fly reports. The firm currently has a “neutral” rating on the asset manager’s stock. Credit Suisse Group’s price target indicates a potential upside of 18.24% from the stock’s previous close.

Other research analysts have also issued reports about the stock. Barclays reaffirmed a “buy” rating and issued a $19.00 price target on shares of Invesco in a research note on Thursday, January 10th. Morgan Stanley decreased their price target on shares of Invesco from $29.00 to $28.00 and set an “equal weight” rating on the stock in a research note on Tuesday, October 9th. Deutsche Bank decreased their price target on shares of Invesco from $27.00 to $25.00 and set a “buy” rating on the stock in a research note on Friday, November 16th. Zacks Investment Research raised shares of Invesco from a “sell” rating to a “hold” rating in a research note on Monday, September 24th. Finally, JPMorgan Chase & Co. set a $29.00 target price on shares of Invesco and gave the stock a “buy” rating in a research note on Monday, September 24th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and three have given a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $25.18.

Invesco stock traded up $0.21 during midday trading on Monday, reaching $17.76. The company had a trading volume of 104,248 shares, compared to its average volume of 4,839,374. The firm has a market capitalization of $7.15 billion, a PE ratio of 6.54, a P/E/G ratio of 0.88 and a beta of 1.53. Invesco has a 12-month low of $15.38 and a 12-month high of $38.43. The company has a current ratio of 1.55, a quick ratio of 1.55 and a debt-to-equity ratio of 0.82.

Invesco (NYSE:IVZ) last issued its quarterly earnings results on Thursday, October 18th. The asset manager reported $0.66 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.66. The firm had revenue of $966.90 million for the quarter, compared to analyst estimates of $972.49 million. Invesco had a net margin of 21.66% and a return on equity of 12.25%. Invesco’s quarterly revenue was down 1.0% compared to the same quarter last year. During the same period last year, the company posted $0.71 EPS. On average, sell-side analysts predict that Invesco will post 2.58 EPS for the current fiscal year.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in IVZ. Migdal Insurance & Financial Holdings Ltd. lifted its stake in Invesco by 80.6% in the 3rd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 5,689 shares of the asset manager’s stock worth $130,000 after purchasing an additional 2,539 shares in the last quarter. First Interstate Bank increased its holdings in shares of Invesco by 66.7% during the 3rd quarter. First Interstate Bank now owns 7,500 shares of the asset manager’s stock worth $172,000 after buying an additional 3,000 shares during the last quarter. Creative Financial Designs Inc. ADV acquired a new stake in shares of Invesco during the 3rd quarter worth approximately $173,000. Cozad Asset Management Inc. acquired a new stake in shares of Invesco during the 2nd quarter worth approximately $210,000. Finally, Gideon Capital Advisors Inc. acquired a new stake in shares of Invesco during the 3rd quarter worth approximately $211,000. 79.71% of the stock is currently owned by institutional investors and hedge funds.

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.

Further Reading: What Is An Exchange-Traded Fund (ETF)?

The Fly

Analyst Recommendations for Invesco (NYSE:IVZ)

Receive News & Ratings for Invesco Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Invesco and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply