Barclays Lowers Invesco (NYSE:IVZ) Price Target to $24.00

Invesco (NYSE:IVZ) had its target price lowered by research analysts at Barclays from $29.00 to $24.00 in a note issued to investors on Friday,Benzinga reports. The firm presently has an “equal weight” rating on the asset manager’s stock. Barclays‘s target price would suggest a potential downside of 3.21% from the stock’s previous close.

IVZ has been the subject of several other research reports. Weiss Ratings reissued a “hold (c+)” rating on shares of Invesco in a report on Monday, December 29th. Wall Street Zen lowered Invesco from a “buy” rating to a “hold” rating in a report on Saturday, February 28th. Argus set a $31.00 price target on Invesco in a report on Wednesday, January 28th. JPMorgan Chase & Co. boosted their price target on Invesco from $27.00 to $30.00 and gave the company a “neutral” rating in a report on Tuesday, January 20th. Finally, Morgan Stanley cut their price target on Invesco from $28.00 to $26.00 and set an “equal weight” rating for the company in a report on Wednesday, April 1st. Five analysts have rated the stock with a Buy rating and ten have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $27.61.

Invesco Stock Performance

Shares of IVZ opened at $24.80 on Friday. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.38 and a quick ratio of 1.38. Invesco has a one year low of $12.27 and a one year high of $29.61. The firm has a market capitalization of $11.00 billion, a P/E ratio of -15.50, a PEG ratio of 0.59 and a beta of 1.66. The business has a fifty day moving average of $24.71 and a 200 day moving average of $25.21.

Invesco (NYSE:IVZ) last issued its quarterly earnings data on Tuesday, January 27th. The asset manager reported $0.62 EPS for the quarter, topping the consensus estimate of $0.58 by $0.04. Invesco had a positive return on equity of 10.26% and a negative net margin of 6.92%.The company had revenue of $1.26 billion during the quarter, compared to analyst estimates of $1.24 billion. During the same quarter in the previous year, the company posted $0.52 earnings per share. Invesco’s revenue was up 6.1% compared to the same quarter last year. As a group, sell-side analysts anticipate that Invesco will post 1.87 EPS for the current year.

Hedge Funds Weigh In On Invesco

Hedge funds have recently made changes to their positions in the business. CNB Bank bought a new position in shares of Invesco in the third quarter worth about $26,000. Root Financial Partners LLC bought a new position in shares of Invesco in the third quarter worth about $30,000. Sentry Investment Management LLC bought a new position in shares of Invesco in the third quarter worth about $30,000. American National Bank & Trust bought a new position in shares of Invesco in the fourth quarter worth about $31,000. Finally, Larson Financial Group LLC boosted its stake in shares of Invesco by 61.5% in the third quarter. Larson Financial Group LLC now owns 1,466 shares of the asset manager’s stock worth $34,000 after acquiring an additional 558 shares during the period. Institutional investors own 66.09% of the company’s stock.

Invesco Company Profile

Invesco Ltd. is an independent global investment management firm headquartered in Atlanta, Georgia, and publicly traded on the New York Stock Exchange (NYSE: IVZ). With origins dating back to 1935, the company is dedicated to offering a wide array of investment strategies and solutions to both individual and institutional clients worldwide.

The firm’s product suite encompasses actively managed equity and fixed income funds, passive index funds, exchange-traded funds (ETFs), closed-end funds, and unit investment trusts, alongside specialized offerings such as private markets, real estate, and structured products.