Invesco’s (IVZ) “Market Perform” Rating Reaffirmed at BMO Capital Markets

Invesco (NYSE:IVZ)‘s stock had its “market perform” rating reiterated by investment analysts at BMO Capital Markets in a note issued to investors on Wednesday, Benzinga reports. They presently have a $17.00 target price on the asset manager’s stock, down from their prior target price of $18.00. BMO Capital Markets’ price target would indicate a potential upside of 17.16% from the stock’s current price.

Several other research analysts also recently commented on IVZ. The Goldman Sachs Group lowered their target price on Invesco from $17.75 to $16.75 and set a “neutral” rating for the company in a research note on Wednesday. TD Cowen started coverage on Invesco in a research note on Thursday, January 4th. They set an “outperform” rating and a $21.00 target price for the company. TheStreet downgraded Invesco from a “b-” rating to a “c” rating in a research note on Friday, February 23rd. Wells Fargo & Company lowered their target price on Invesco from $20.00 to $19.00 and set an “overweight” rating for the company in a research note on Wednesday, January 24th. Finally, Keefe, Bruyette & Woods reissued a “market perform” rating and set a $17.00 target price (down previously from $19.00) on shares of Invesco in a research note on Wednesday. Ten investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $16.79.

Invesco Stock Down 0.1 %

IVZ stock opened at $14.51 on Wednesday. The company has a market cap of $6.52 billion, a PE ratio of -19.35, a price-to-earnings-growth ratio of 0.96 and a beta of 1.44. The business has a 50-day simple moving average of $15.70 and a 200 day simple moving average of $15.43. Invesco has a 52 week low of $12.48 and a 52 week high of $18.71. The company has a quick ratio of 5.01, a current ratio of 5.01 and a debt-to-equity ratio of 0.54.

Invesco (NYSE:IVZ) last posted its quarterly earnings results on Tuesday, April 23rd. The asset manager reported $0.33 EPS for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.07). The company had revenue of $1.48 billion during the quarter, compared to analyst estimates of $1.08 billion. Invesco had a negative net margin of 1.74% and a positive return on equity of 7.11%. The firm’s revenue for the quarter was up 4.0% compared to the same quarter last year. During the same period last year, the firm earned $0.38 EPS. Sell-side analysts anticipate that Invesco will post 1.75 EPS for the current fiscal year.

Institutional Trading of Invesco

Institutional investors have recently added to or reduced their stakes in the stock. Orion Capital Management LLC bought a new stake in Invesco in the third quarter valued at approximately $25,000. Gables Capital Management Inc. boosted its holdings in Invesco by 74.9% in the fourth 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 during the last quarter. Jones Financial Companies Lllp bought a new stake in Invesco in the third quarter valued at approximately $32,000. Sentry Investment Management LLC bought a new stake in Invesco in the third quarter valued at approximately $36,000. Finally, Pinnacle Bancorp Inc. boosted its holdings in Invesco by 100.0% in the fourth quarter. Pinnacle Bancorp Inc. now owns 2,000 shares of the asset manager’s stock valued at $36,000 after acquiring an additional 1,000 shares during the last quarter. 66.09% of the stock is currently owned by 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.