Invesco PLC (IVZ) Upgraded at Zacks Investment Research
Invesco PLC (NYSE:IVZ) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Wednesday. The firm presently has a $40.00 target price on the asset manager’s stock. Zacks Investment Research‘s price target would indicate a potential upside of 10.86% from the company’s previous close.
According to Zacks, “Invesco’s shares have underperformed the industry so far this year. Yet, the company has an impressive earnings surprise history. It surpassed the Zacks Consensus Estimate for earnings in three of the trailing four quarters. With an aim to enhance its exchange-traded funds (ETF) operation, the company has inked a deal to acquire the ETF business of Guggenheim Partners LLC. Strong balance sheet position along with cost savings efforts, improving assets under management (AUM), diverse product offerings and alternative investment strategies should continue supporting growth. However, high-debt levels, and amortization of goodwill and intangible assets could have an adverse effect on the company’s profitability.”
Other research analysts also recently issued research reports about the stock. Wells Fargo & Company upped their price target on shares of Invesco PLC from $38.00 to $40.00 and gave the stock an “outperform” rating in a research report on Wednesday. Barclays PLC assumed coverage on shares of Invesco PLC in a research report on Friday, September 8th. They set an “overweight” rating and a $38.00 price target on the stock. Royal Bank Of Canada assumed coverage on shares of Invesco PLC in a research report on Thursday, June 29th. They set an “outperform” rating and a $41.00 price target on the stock. Jefferies Group LLC set a $41.00 price target on shares of Invesco PLC and gave the stock a “buy” rating in a research report on Thursday, August 17th. Finally, BidaskClub downgraded shares of Invesco PLC from a “buy” rating to a “hold” rating in a research report on Monday, July 31st. One analyst has rated the stock with a sell rating, four have given a hold rating and ten have assigned a buy rating to the company. Invesco PLC has an average rating of “Buy” and a consensus price target of $38.04.
Shares of Invesco PLC (NYSE IVZ) traded up 0.19% during mid-day trading on Wednesday, reaching $36.15. 1,557,008 shares of the company traded hands. The stock has a market capitalization of $14.71 billion, a PE ratio of 16.14 and a beta of 1.80. The stock’s 50 day moving average is $33.60 and its 200 day moving average is $33.39. Invesco PLC has a 52-week low of $27.46 and a 52-week high of $36.83.
Invesco PLC (NYSE:IVZ) last issued its quarterly earnings results on Thursday, July 27th. The asset manager reported $0.64 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.61 by $0.03. The business had revenue of $906.30 million for the quarter, compared to the consensus estimate of $891.19 million. Invesco PLC had a net margin of 18.98% and a return on equity of 12.74%. The firm’s quarterly revenue was up 4.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.56 EPS. On average, analysts anticipate that Invesco PLC will post $2.56 earnings per share for the current year.
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Several large investors have recently made changes to their positions in IVZ. Financial Architects Inc increased its stake in Invesco PLC by 54.3% during the 2nd quarter. Financial Architects Inc now owns 3,073 shares of the asset manager’s stock worth $109,000 after purchasing an additional 1,082 shares in the last quarter. Global X Management Co. LLC increased its stake in Invesco PLC by 29.4% during the 1st quarter. Global X Management Co. LLC now owns 5,582 shares of the asset manager’s stock worth $171,000 after purchasing an additional 1,267 shares in the last quarter. C M Bidwell & Associates Ltd. bought a new stake in Invesco PLC during the 2nd quarter worth approximately $185,000. Gilbert & Cook Inc. bought a new stake in Invesco PLC during the 2nd quarter worth approximately $203,000. Finally, Cornerstone Investment Partners LLC bought a new stake in Invesco PLC during the 2nd quarter worth approximately $206,000. Institutional investors and hedge funds own 79.79% of the company’s stock.
About Invesco PLC
Invesco Ltd. (Invesco) is an independent investment management company. The Company provides a range of investment capabilities and outcomes, which are delivered through a set of investment vehicles, to help clients achieve their investment objectives. It has a presence in the retail and institutional markets within the investment management industry in North America; Europe, Middle East and Africa (EMEA), and Asia-Pacific.
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