The Goldman Sachs Group Lowers Invesco (NYSE:IVZ) Price Target to $17.75

Invesco (NYSE:IVZ) had its target price decreased by research analysts at The Goldman Sachs Group from $18.00 to $17.75 in a research note issued on Thursday, Benzinga reports. The firm currently has a “neutral” rating on the asset manager’s stock. The Goldman Sachs Group’s price objective would suggest a potential upside of 15.71% from the stock’s current price.

Several other brokerages have also recently issued reports on IVZ. UBS Group lowered their price target on Invesco from $18.00 to $17.00 and set a “neutral” rating on the stock in a research report on Monday, January 29th. Morgan Stanley reduced their price objective on shares of Invesco from $17.00 to $16.00 and set an “equal weight” rating for the company in a research report on Wednesday, January 24th. Royal Bank of Canada lifted their price objective on shares of Invesco from $14.00 to $16.00 and gave the stock a “sector perform” rating in a research note on Thursday, January 18th. Keefe, Bruyette & Woods cut their target price on shares of Invesco from $21.00 to $19.50 and set an “outperform” rating for the company in a research note on Wednesday, January 24th. Finally, TD Cowen started coverage on shares of Invesco in a research report on Thursday, January 4th. They issued an “outperform” rating and a $21.00 price target on the stock. Nine research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, Invesco presently has an average rating of “Hold” and a consensus price target of $17.38.

Invesco Stock Performance

IVZ stock opened at $15.34 on Thursday. The company has a 50-day simple moving average of $15.84 and a 200 day simple moving average of $15.37. The company has a market capitalization of $6.89 billion, a P/E ratio of -20.73, a PEG ratio of 1.00 and a beta of 1.44. The company has a quick ratio of 5.01, a current ratio of 5.01 and a debt-to-equity ratio of 0.77. Invesco has a fifty-two week low of $12.48 and a fifty-two week high of $18.71.

Invesco (NYSE:IVZ) last issued its quarterly earnings results on Tuesday, January 23rd. The asset manager reported $0.47 earnings per share for the quarter, topping analysts’ consensus estimates of $0.40 by $0.07. Invesco had a negative net margin of 1.70% and a positive return on equity of 7.93%. The company had revenue of $1.05 billion during the quarter, compared to analyst estimates of $1.11 billion. During the same period in the prior year, the business posted $0.39 EPS. The business’s revenue for the quarter was down 5.6% compared to the same quarter last year. Sell-side analysts predict that Invesco will post 1.74 earnings per share for the current fiscal year.

Institutional Trading of Invesco

Several hedge funds and other institutional investors have recently modified their holdings of IVZ. Orion Capital Management LLC acquired a new position in Invesco during the third quarter valued at $25,000. Gables Capital Management Inc. grew its stake in Invesco by 74.9% during the 4th quarter. Gables Capital Management Inc. now owns 1,634 shares of the asset manager’s stock valued at $29,000 after acquiring an additional 700 shares in the last quarter. Money Concepts Capital Corp grew its stake in Invesco by 150.1% during the 4th quarter. Money Concepts Capital Corp now owns 1,688 shares of the asset manager’s stock valued at $30,000 after acquiring an additional 1,013 shares in the last quarter. Jones Financial Companies Lllp acquired a new position in shares of Invesco in the 3rd quarter valued at about $32,000. Finally, Sentry Investment Management LLC purchased a new stake in shares of Invesco in the third quarter worth approximately $36,000. Institutional investors and hedge funds own 66.09% of the company’s stock.

Invesco Company Profile

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.