Invesco (NYSE:IVZ) Earns Sector Perform Rating from Royal Bank of Canada

Invesco (NYSE:IVZ)‘s stock had its “sector perform” rating reissued by analysts at Royal Bank of Canada in a research note issued to investors on Thursday,Benzinga reports. They currently have a $19.00 price target on the asset manager’s stock. Royal Bank of Canada’s target price suggests a potential upside of 7.84% from the company’s previous close.

A number of other research firms have also recently weighed in on IVZ. Morgan Stanley upped their price target on Invesco from $18.00 to $19.00 and gave the stock an “equal weight” rating in a report on Friday, December 20th. The Goldman Sachs Group dropped their price target on Invesco from $19.25 to $19.00 and set a “neutral” rating for the company in a research report on Tuesday, January 7th. JPMorgan Chase & Co. boosted their price objective on shares of Invesco from $17.00 to $20.00 and gave the stock a “neutral” rating in a research report on Monday, October 21st. Evercore ISI raised their target price on shares of Invesco from $19.00 to $20.00 and gave the company an “in-line” rating in a report on Thursday, November 7th. Finally, Barclays reduced their price target on shares of Invesco from $19.00 to $18.00 and set an “equal weight” rating on the stock in a report on Friday, January 17th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $18.71.

Invesco Price Performance

Shares of NYSE IVZ opened at $17.62 on Thursday. The company has a debt-to-equity ratio of 0.66, a quick ratio of 4.91 and a current ratio of 4.91. Invesco has a one year low of $14.16 and a one year high of $18.94. The firm has a market capitalization of $7.92 billion, a P/E ratio of -19.15, a PEG ratio of 1.06 and a beta of 1.43. The company’s fifty day moving average is $17.59 and its two-hundred day moving average is $17.21.

Invesco (NYSE:IVZ) last released its quarterly earnings data on Tuesday, October 22nd. The asset manager reported $0.44 EPS for the quarter, topping analysts’ consensus estimates of $0.43 by $0.01. Invesco had a negative net margin of 3.00% and a positive return on equity of 8.83%. The firm had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $1.11 billion. During the same quarter in the previous year, the firm earned $0.35 earnings per share. The firm’s revenue was down 20.8% on a year-over-year basis. Analysts forecast that Invesco will post 1.7 EPS for the current fiscal year.

Hedge Funds Weigh In On Invesco

Several institutional investors have recently added to or reduced their stakes in IVZ. Avior Wealth Management LLC grew its holdings in Invesco by 484.9% in the 3rd quarter. Avior Wealth Management LLC now owns 1,550 shares of the asset manager’s stock valued at $27,000 after buying an additional 1,285 shares during the period. Wilmington Savings Fund Society FSB purchased a new stake in Invesco in the third quarter valued at approximately $35,000. Allworth Financial LP increased its position in Invesco by 304.0% during the third quarter. Allworth Financial LP now owns 2,400 shares of the asset manager’s stock worth $42,000 after purchasing an additional 1,806 shares during the last quarter. Crews Bank & Trust purchased a new position in Invesco during the fourth quarter worth approximately $44,000. Finally, Truvestments Capital LLC acquired a new position in shares of Invesco in the 3rd quarter valued at $76,000. 66.09% of the stock is currently owned by institutional investors and hedge funds.

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.