Invesco (NYSE:IVZ) Price Target Cut to $18.00 by Analysts at Bank of America

Invesco (NYSE:IVZ - Get Free Report) had its target price cut by investment analysts at Bank of America from $19.00 to $18.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage currently has a "neutral" rating on the asset manager's stock. Bank of America's target price indicates a potential upside of 45.57% from the stock's previous close.

Other analysts have also recently issued research reports about the stock. Morgan Stanley lifted their price objective on shares of Invesco from $18.00 to $19.00 and gave the stock an "equal weight" rating in a research note on Thursday, February 6th. Keefe, Bruyette & Woods reaffirmed a "market perform" rating and set a $20.00 target price (up from $18.00) on shares of Invesco in a report on Wednesday, January 29th. Barclays boosted their price target on Invesco from $18.00 to $20.00 and gave the company an "equal weight" rating in a research note on Wednesday, January 29th. BMO Capital Markets raised their price objective on Invesco from $19.00 to $21.00 and gave the stock a "market perform" rating in a research note on Wednesday, January 29th. Finally, JPMorgan Chase & Co. cut their target price on Invesco from $20.00 to $19.00 and set a "neutral" rating for the company in a research report on Tuesday, January 28th. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $19.30.

Invesco Stock Performance

Shares of NYSE:IVZ traded down $0.35 during trading on Thursday, reaching $12.37. 2,753,171 shares of the stock were exchanged, compared to its average volume of 4,140,737. The firm has a market cap of $5.53 billion, a PE ratio of 10.43, a PEG ratio of 0.98 and a beta of 1.26. The company has a current ratio of 4.91, a quick ratio of 4.91 and a debt-to-equity ratio of 0.49. Invesco has a 12 month low of $12.21 and a 12 month high of $19.55. The stock has a 50-day moving average price of $16.75 and a 200-day moving average price of $17.34.

Invesco (NYSE:IVZ - Get Free Report) last issued its quarterly earnings data on Tuesday, January 28th. The asset manager reported $0.52 EPS 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%. Research analysts expect that Invesco will post 1.87 EPS for the current fiscal year.

Hedge Funds Weigh In On Invesco

Hedge funds have recently modified their holdings of the business. GAMMA Investing LLC grew its position in shares of Invesco by 1,715.1% in the 1st quarter. GAMMA Investing LLC now owns 343,085 shares of the asset manager's stock valued at $52,050,000 after buying an additional 324,183 shares during the last quarter. Versant Capital Management Inc lifted its position in shares of Invesco by 264.1% in the 1st quarter. Versant Capital Management Inc now owns 3,080 shares of the asset manager's stock worth $47,000 after purchasing an additional 2,234 shares during the period. Cacti Asset Management LLC boosted its stake in shares of Invesco by 2.1% in the 1st quarter. Cacti Asset Management LLC now owns 333,017 shares of the asset manager's stock valued at $5,059,000 after purchasing an additional 6,736 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted its stake in shares of Invesco by 70.7% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 140,964 shares of the asset manager's stock valued at $2,464,000 after purchasing an additional 58,361 shares during the last quarter. Finally, NorthCrest Asset Manangement LLC increased its position in shares of Invesco by 10.4% during the fourth quarter. NorthCrest Asset Manangement LLC now owns 30,868 shares of the asset manager's stock worth $540,000 after buying an additional 2,920 shares during the period. Institutional investors and hedge funds 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.