Invesco (NYSE:IVZ) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Friday. The brokerage currently has a $37.00 target price on the asset manager’s stock. Zacks Investment Research‘s price objective suggests a potential upside of 14.06% from the company’s current price.
According to Zacks, “Shares of Invesco have significantly underperformed the industry over the last three months. Yet, the company has an impressive earnings surprise history, having surpassed the Zacks Consensus Estimate in each of the trailing four quarters. The company’s fourth-quarter 2017 results benefited from rise in revenues and long-term inflows. A strong balance sheet position, improving assets under management (AUM) and diverse product offerings are likely to continue supporting growth. With an aim to enhance its exchange-traded funds (ETF) operation, the company inked a deal to acquire the ETF business of Guggenheim Partners LLC. However, operating expenses are expected to rise in the quarter ahead, mainly due to inorganic growth strategy. Further, the company’s high-debt levels might adversely affect its profitability in the long run.”
Other research analysts have also recently issued research reports about the stock. Jefferies Group boosted their price objective on shares of Invesco from $41.00 to $42.00 and gave the company a “buy” rating in a research report on Friday, November 3rd. Royal Bank of Canada reiterated a “buy” rating and set a $41.00 price objective on shares of Invesco in a research report on Friday, October 27th. Citigroup boosted their price objective on shares of Invesco from $43.00 to $44.00 and gave the company a “buy” rating in a research report on Friday, October 27th. ValuEngine upgraded shares of Invesco from a “hold” rating to a “buy” rating in a research report on Wednesday, December 6th. Finally, JPMorgan Chase & Co. set a $45.00 price objective on shares of Invesco and gave the company a “buy” rating in a research report on Monday, January 8th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and nine have given a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $40.21.
Invesco (NYSE:IVZ) last released its quarterly earnings results on Wednesday, January 31st. The asset manager reported $0.73 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.70 by $0.03. The company had revenue of $1 billion for the quarter, compared to the consensus estimate of $982.86 million. Invesco had a net margin of 21.85% and a return on equity of 13.51%. Invesco’s revenue was up 16.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.59 earnings per share. sell-side analysts anticipate that Invesco will post 3.08 EPS for the current year.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its stake in Invesco by 90.6% in the third quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 433,921 shares of the asset manager’s stock worth $15,205,000 after acquiring an additional 206,313 shares during the period. Atlantic Trust Group LLC lifted its stake in Invesco by 19.2% in the third quarter. Atlantic Trust Group LLC now owns 31,818 shares of the asset manager’s stock worth $1,115,000 after acquiring an additional 5,131 shares during the period. Prudential Financial Inc. lifted its stake in Invesco by 40.1% in the third quarter. Prudential Financial Inc. now owns 1,547,138 shares of the asset manager’s stock worth $54,212,000 after acquiring an additional 442,997 shares during the period. Robeco Institutional Asset Management B.V. lifted its stake in Invesco by 59.7% in the third quarter. Robeco Institutional Asset Management B.V. now owns 105,764 shares of the asset manager’s stock worth $3,705,000 after acquiring an additional 39,548 shares during the period. Finally, OLD National Bancorp IN purchased a new stake in Invesco in the third quarter worth about $266,000. Hedge funds and other institutional investors own 81.07% of the company’s stock.
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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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