Invesco (NYSE:IVZ) Cut to Sell at StockNews.com

Invesco (NYSE:IVZ) was downgraded by research analysts at StockNews.com from a “hold” rating to a “sell” rating in a research report issued on Tuesday.

Other research analysts have also issued research reports about the company. TD Cowen reduced their price target on Invesco from $21.00 to $19.50 and set a “buy” rating for the company in a research report on Wednesday, April 24th. Morgan Stanley increased their price target on shares of Invesco from $16.00 to $17.00 and gave the stock an “equal weight” rating in a research report on Wednesday, April 17th. Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $17.00 price objective (down from $19.00) on shares of Invesco in a research note on Wednesday, April 24th. BMO Capital Markets reaffirmed a “market perform” rating and issued a $17.00 price target (down from $18.00) on shares of Invesco in a research report on Wednesday, April 24th. Finally, The Goldman Sachs Group cut their target price on shares of Invesco from $17.50 to $17.00 and set a “neutral” rating for the company in a research note on Tuesday, July 2nd. One analyst has rated the stock with a sell rating, nine have given a hold rating and two have given a buy rating to the stock. According to MarketBeat, Invesco currently has a consensus rating of “Hold” and an average price target of $16.90.

Invesco Price Performance

IVZ stock traded up $0.56 during trading on Tuesday, reaching $15.53. 5,167,620 shares of the company were exchanged, compared to its average volume of 4,465,257. The company has a market cap of $6.99 billion, a P/E ratio of -20.71, a PEG ratio of 1.16 and a beta of 1.47. The company has a debt-to-equity ratio of 0.68, a quick ratio of 6.89 and a current ratio of 5.80. Invesco has a 52-week low of $12.48 and a 52-week high of $18.28. The stock’s 50 day moving average price is $15.61 and its 200 day moving average price is $15.65.

Invesco (NYSE:IVZ) last issued its earnings results on Tuesday, July 23rd. The asset manager reported $0.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.40 by $0.03. The business had revenue of $1.09 billion during the quarter, compared to analysts’ expectations of $1.09 billion. Invesco had a positive return on equity of 8.41% and a negative net margin of 1.73%. The company’s revenue for the quarter was down .4% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.31 EPS. As a group, analysts predict that Invesco will post 1.65 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Invesco

Hedge funds have recently added to or reduced their stakes in the stock. Arizona State Retirement System raised its holdings in Invesco by 1.9% during the 2nd quarter. Arizona State Retirement System now owns 94,398 shares of the asset manager’s stock worth $1,412,000 after purchasing an additional 1,737 shares during the last quarter. Victory Capital Management Inc. lifted its holdings in Invesco by 2.9% in the second quarter. Victory Capital Management Inc. now owns 135,335 shares of the asset manager’s stock valued at $2,025,000 after buying an additional 3,873 shares during the period. National Bank of Canada FI lifted its holdings in Invesco by 3.9% in the second quarter. National Bank of Canada FI now owns 197,463 shares of the asset manager’s stock valued at $2,932,000 after buying an additional 7,418 shares during the period. TD Asset Management Inc grew its holdings in Invesco by 5.9% during the 2nd quarter. TD Asset Management Inc now owns 84,792 shares of the asset manager’s stock worth $1,268,000 after acquiring an additional 4,700 shares during the period. Finally, Elevated Capital Advisors LLC acquired a new position in shares of Invesco in the 2nd quarter valued at $625,000. 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.