Invesco (NYSE:IVZ) Price Target Raised to $19.50 at The Goldman Sachs Group

Invesco (NYSE:IVZ) had its target price lifted by equities researchers at The Goldman Sachs Group from $17.50 to $19.50 in a research note issued on Wednesday, Benzinga reports. The firm currently has a “neutral” rating on the asset manager’s stock. The Goldman Sachs Group’s price target would indicate a potential upside of 11.36% from the stock’s previous close.

A number of other brokerages also recently commented on IVZ. JPMorgan Chase & Co. boosted their target price on shares of Invesco from $17.00 to $20.00 and gave the stock a “neutral” rating in a report on Monday. UBS Group boosted their target price on shares of Invesco from $17.50 to $19.00 and gave the stock a “neutral” rating in a report on Tuesday. Royal Bank of Canada upped their price objective on shares of Invesco from $17.00 to $18.00 and gave the company a “sector perform” rating in a report on Friday, October 11th. Wells Fargo & Company upped their price objective on shares of Invesco from $16.50 to $17.50 and gave the company an “underweight” rating in a report on Wednesday. Finally, Deutsche Bank Aktiengesellschaft upped their price objective on shares of Invesco from $16.00 to $17.00 and gave the company a “hold” rating in a report on Thursday, August 15th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, Invesco currently has an average rating of “Hold” and a consensus target price of $18.29.

Invesco Stock Down 2.9 %

NYSE:IVZ traded down $0.53 during mid-day trading on Wednesday, reaching $17.51. The company’s stock had a trading volume of 1,402,112 shares, compared to its average volume of 4,244,351. Invesco has a 1 year low of $12.48 and a 1 year high of $18.79. The stock has a fifty day moving average of $17.10 and a 200-day moving average of $16.09. The firm has a market capitalization of $7.88 billion, a PE ratio of -23.35, a price-to-earnings-growth ratio of 1.10 and a beta of 1.44. The company has a quick ratio of 5.80, a current ratio of 5.80 and a debt-to-equity ratio of 0.68.

Invesco (NYSE:IVZ) last announced its earnings results on Tuesday, October 22nd. The asset manager reported $0.44 EPS for the quarter, topping analysts’ consensus estimates of $0.43 by $0.01. The business had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.11 billion. Invesco had a negative net margin of 1.73% and a positive return on equity of 8.41%. The firm’s revenue was down 20.8% on a year-over-year basis. During the same period in the previous year, the company posted $0.35 earnings per share. Equities research analysts forecast that Invesco will post 1.66 earnings per share for the current year.

Institutional Investors Weigh In On Invesco

Hedge funds have recently bought and sold shares of the stock. Family Firm Inc. purchased a new stake in Invesco in the 2nd quarter worth approximately $28,000. Sentry Investment Management LLC purchased a new stake in Invesco in the 2nd quarter worth approximately $30,000. Fidelis Capital Partners LLC purchased a new stake in Invesco in the 1st quarter worth approximately $52,000. Abich Financial Wealth Management LLC boosted its position in Invesco by 50.0% in the 1st quarter. Abich Financial Wealth Management LLC now owns 3,631 shares of the asset manager’s stock worth $60,000 after purchasing an additional 1,210 shares in the last quarter. Finally, EntryPoint Capital LLC purchased a new stake in Invesco in the 1st quarter worth approximately $64,000. Hedge funds and other institutional investors own 66.09% of the company’s stock.

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.