Credit Suisse Group Reiterates “Hold” Rating for Invesco (NYSE:IVZ)

Invesco (NYSE:IVZ)‘s stock had its “hold” rating reiterated by analysts at Credit Suisse Group in a report released on Friday, AnalystRatings.com reports. They currently have a $10.00 price target on the asset manager’s stock. Credit Suisse Group’s price target indicates a potential downside of 0.40% from the company’s previous close.

Several other research firms have also issued reports on IVZ. Zacks Investment Research lowered Invesco from a “hold” rating to a “sell” rating and set a $8.00 target price on the stock. in a research note on Monday, April 6th. Citigroup cut their target price on Invesco from $5.00 to $4.50 and set a “sell” rating on the stock in a research note on Thursday. Keefe, Bruyette & Woods lowered Invesco from an “outperform” rating to a “market perform” rating and cut their target price for the company from $10.50 to $8.25 in a research note on Friday, April 24th. Deutsche Bank cut their target price on Invesco from $12.00 to $11.00 and set a “buy” rating on the stock in a research note on Friday, May 15th. Finally, Bank of America cut their target price on Invesco from $12.00 to $11.00 and set a “neutral” rating on the stock in a research note on Friday, July 10th. Five equities research analysts have rated the stock with a sell rating, nine have given a hold rating and two have assigned a buy rating to the company. Invesco presently has a consensus rating of “Hold” and a consensus price target of $10.44.

Shares of IVZ stock traded down $0.06 on Friday, hitting $10.04. The stock had a trading volume of 6,865,878 shares, compared to its average volume of 5,446,305. The company has a quick ratio of 1.71, a current ratio of 1.71 and a debt-to-equity ratio of 0.88. The business has a 50 day moving average price of $10.58 and a 200 day moving average price of $11.66. The company has a market cap of $4.61 billion, a PE ratio of 9.84, a P/E/G ratio of 1.10 and a beta of 1.48. Invesco has a one year low of $6.38 and a one year high of $19.37.

Invesco (NYSE:IVZ) last released its quarterly earnings data on Tuesday, July 28th. The asset manager reported $0.35 earnings per share for the quarter, missing the consensus estimate of $0.43 by ($0.08). The firm had revenue of $1.03 billion during the quarter, compared to the consensus estimate of $1.04 billion. Invesco had a net margin of 8.15% and a return on equity of 9.90%. The business’s revenue was up .2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.65 earnings per share. Equities research analysts expect that Invesco will post 1.53 EPS for the current year.

Several hedge funds have recently modified their holdings of IVZ. ARGA Investment Management LP purchased a new stake in Invesco in the second quarter valued at approximately $1,251,000. Sigma Planning Corp boosted its position in Invesco by 22.6% in the second quarter. Sigma Planning Corp now owns 31,155 shares of the asset manager’s stock valued at $335,000 after buying an additional 5,737 shares during the last quarter. Pzena Investment Management LLC boosted its position in Invesco by 6.4% in the second quarter. Pzena Investment Management LLC now owns 4,177,761 shares of the asset manager’s stock valued at $44,953,000 after buying an additional 250,420 shares during the last quarter. Prudential PLC boosted its position in Invesco by 34.2% in the second quarter. Prudential PLC now owns 6,488,974 shares of the asset manager’s stock valued at $69,821,000 after buying an additional 1,654,273 shares during the last quarter. Finally, Signaturefd LLC boosted its position in Invesco by 122.8% in the second quarter. Signaturefd LLC now owns 11,669 shares of the asset manager’s stock valued at $126,000 after buying an additional 6,431 shares during the last quarter. Institutional investors and hedge funds own 65.21% of the company’s stock.

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.

See Also: Commodities

Analyst Recommendations for Invesco (NYSE:IVZ)

Receive News & Ratings for Invesco Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Invesco and related companies with MarketBeat.com's FREE daily email newsletter.