Invesco (NYSE:IVZ) Given New $18.00 Price Target at Bank of America

Invesco (NYSE:IVZ) had its price target decreased by research analysts at Bank of America from $19.00 to $18.00 in a report released on Thursday,Benzinga reports. The brokerage currently has a “neutral” rating on the asset manager’s stock. Bank of America‘s price objective indicates a potential upside of 40.81% from the stock’s current price.

Other research analysts have also issued research reports about the stock. Barclays raised their price target on shares of Invesco from $18.00 to $20.00 and gave the company an “equal weight” rating in a report on Wednesday, January 29th. TD Cowen reduced their target price on shares of Invesco from $20.00 to $19.00 and set a “buy” rating on the stock in a report on Tuesday, January 28th. Royal Bank of Canada assumed coverage on Invesco in a report on Tuesday, January 28th. They issued a “sector perform” rating and a $19.00 price target for the company. Wells Fargo & Company boosted their price objective on Invesco from $17.00 to $19.50 and gave the stock an “underweight” rating in a research note on Wednesday, January 29th. Finally, Argus increased their target price on Invesco from $20.00 to $22.00 and gave the company a “buy” rating in a research note on Wednesday, January 29th. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $19.30.

Invesco Stock Down 7.6 %

Shares of IVZ opened at $12.78 on Thursday. Invesco has a fifty-two week low of $12.35 and a fifty-two week high of $19.55. The company’s fifty day moving average is $16.85 and its two-hundred day moving average is $17.36. The firm has a market cap of $5.72 billion, a PE ratio of 10.83, a price-to-earnings-growth ratio of 0.98 and a beta of 1.26. The company has a quick ratio of 4.91, a current ratio of 4.91 and a debt-to-equity ratio of 0.49.

Invesco (NYSE:IVZ) last issued its earnings results on Tuesday, January 28th. The asset manager reported $0.52 earnings per share for the quarter, beating analysts’ consensus estimates of $0.51 by $0.01. Invesco had a return on equity of 8.18% and a net margin of 12.77%. Analysts forecast that Invesco will post 1.87 earnings per share for the current year.

Hedge Funds Weigh In On Invesco

A number of hedge funds have recently bought and sold shares of IVZ. D.A. Davidson & CO. lifted its holdings in Invesco by 1.5% during the 4th quarter. D.A. Davidson & CO. now owns 46,707 shares of the asset manager’s stock worth $816,000 after buying an additional 677 shares during the last quarter. Avantax Advisory Services Inc. boosted its holdings in Invesco by 6.8% in the fourth quarter. Avantax Advisory Services Inc. now owns 11,133 shares of the asset manager’s stock worth $195,000 after purchasing an additional 710 shares during the period. True Wealth Design LLC increased its stake in Invesco by 18.3% during the fourth quarter. True Wealth Design LLC now owns 5,183 shares of the asset manager’s stock valued at $91,000 after purchasing an additional 801 shares during the last quarter. Arizona State Retirement System raised its holdings in shares of Invesco by 0.8% during the fourth quarter. Arizona State Retirement System now owns 97,956 shares of the asset manager’s stock worth $1,712,000 after purchasing an additional 812 shares during the period. Finally, CANADA LIFE ASSURANCE Co lifted its position in shares of Invesco by 0.5% in the 4th quarter. CANADA LIFE ASSURANCE Co now owns 153,250 shares of the asset manager’s stock worth $2,677,000 after buying an additional 835 shares during the last quarter. 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.