Invesco (NYSE:IVZ) Price Target Raised to $17.00

Invesco (NYSE:IVZ - Get Free Report) had its price objective lifted by research analysts at Barclays from $15.00 to $17.00 in a note issued to investors on Wednesday,Benzinga reports. The firm currently has an "equal weight" rating on the asset manager's stock. Barclays's price objective suggests a potential upside of 0.68% from the company's current price.

IVZ has been the subject of several other reports. Citigroup dropped their price objective on Invesco from $20.00 to $16.00 and set a "neutral" rating for the company in a report on Monday, March 31st. Royal Bank Of Canada reissued a "sector perform" rating and set a $16.00 price target (up from $14.00) on shares of Invesco in a research note on Thursday, July 10th. Morgan Stanley increased their price objective on shares of Invesco from $15.00 to $16.00 and gave the company an "equal weight" rating in a report on Wednesday, July 2nd. TD Cowen lowered shares of Invesco from a "buy" rating to a "hold" rating and lowered their target price for the stock from $22.00 to $13.00 in a report on Wednesday, April 9th. Finally, JPMorgan Chase & Co. dropped their target price on shares of Invesco from $19.00 to $16.00 and set a "neutral" rating for the company in a research report on Wednesday, April 16th. Fifteen investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat, the company has an average rating of "Hold" and a consensus target price of $17.65.

Invesco Price Performance

Shares of Invesco stock traded up $0.15 during midday trading on Wednesday, reaching $16.89. The company had a trading volume of 5,831,389 shares, compared to its average volume of 4,493,697. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 0.81. The stock has a fifty day simple moving average of $15.32 and a 200 day simple moving average of $15.78. Invesco has a 1-year low of $11.60 and a 1-year high of $19.55. The company has a market capitalization of $7.56 billion, a price-to-earnings ratio of 13.51, a price-to-earnings-growth ratio of 1.48 and a beta of 1.48.

Invesco (NYSE:IVZ - Get Free Report) last released its earnings results on Tuesday, April 22nd. The asset manager reported $0.44 EPS for the quarter, beating the consensus estimate of $0.39 by $0.05. The company had revenue of $1.11 billion during the quarter, compared to analysts' expectations of $1.11 billion. Invesco had a return on equity of 8.94% and a net margin of 13.14%. During the same period last year, the firm earned $0.33 EPS. As a group, equities research analysts forecast that Invesco will post 1.87 earnings per share for the current year.

Hedge Funds Weigh In On Invesco

Several institutional investors and hedge funds have recently modified their holdings of IVZ. Kendall Capital Management acquired a new stake in Invesco during the 2nd quarter worth approximately $309,000. CX Institutional increased its holdings in Invesco by 50.5% during the 2nd quarter. CX Institutional now owns 16,829 shares of the asset manager's stock worth $265,000 after purchasing an additional 5,645 shares in the last quarter. Public Employees Retirement System of Ohio increased its holdings in Invesco by 0.8% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 121,282 shares of the asset manager's stock worth $1,913,000 after purchasing an additional 973 shares in the last quarter. GAMMA Investing LLC raised its stake in shares of Invesco by 30.8% in the 2nd quarter. GAMMA Investing LLC now owns 29,589 shares of the asset manager's stock valued at $467,000 after purchasing an additional 6,973 shares during the period. Finally, Park Avenue Securities LLC bought a new stake in shares of Invesco in the second quarter valued at about $263,000. 66.09% of the stock is currently owned by institutional investors and hedge funds.

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.