Invesco PLC (NYSE:IVZ) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Wednesday. The firm currently has a $40.00 price objective on the asset manager’s stock. Zacks Investment Research‘s price target suggests a potential upside of 10.22% from the company’s previous close.

According to Zacks, “Invesco’s shares have underperformed the industry so far this year. Yet, the company has an impressive earnings surprise history. It surpassed the Zacks Consensus Estimate for earnings in three of the trailing four quarters. With an aim to enhance its exchange-traded funds (ETF) operation, the company has inked a deal to acquire the ETF business of Guggenheim Partners LLC. Strong balance sheet position along with cost savings efforts, improving assets under management (AUM), diverse product offerings and alternative investment strategies should continue supporting growth. However, high-debt levels, and amortization of goodwill and intangible assets could have an adverse effect on the company’s profitability.”

A number of other analysts have also issued reports on IVZ. ValuEngine raised Invesco PLC from a “hold” rating to a “buy” rating in a research note on Monday, October 2nd. Wells Fargo & Company raised their price target on Invesco PLC from $38.00 to $40.00 and gave the stock an “outperform” rating in a research note on Wednesday. Jefferies Group LLC reissued a “buy” rating and issued a $41.00 price target on shares of Invesco PLC in a research note on Sunday, July 30th. Keefe, Bruyette & Woods reissued a “buy” rating and issued a $39.00 price target on shares of Invesco PLC in a research note on Tuesday, October 3rd. Finally, Citigroup Inc. raised their price target on Invesco PLC from $38.50 to $39.50 and gave the stock a “buy” rating in a research note on Tuesday, October 3rd. One analyst has rated the stock with a sell rating, five have issued a hold rating and nine have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $38.04.

Invesco PLC (NYSE:IVZ) last issued its quarterly earnings results on Thursday, July 27th. The asset manager reported $0.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.61 by $0.03. Invesco PLC had a return on equity of 12.74% and a net margin of 18.98%. The firm had revenue of $906.30 million for the quarter, compared to analyst estimates of $891.19 million. During the same period last year, the company earned $0.56 EPS. The firm’s quarterly revenue was up 4.5% on a year-over-year basis.

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A number of institutional investors have recently added to or reduced their stakes in the stock. Duncker Streett & Co. Inc. lifted its position in Invesco PLC by 0.9% during the 2nd quarter. Duncker Streett & Co. Inc. now owns 6,120 shares of the asset manager’s stock worth $215,000 after acquiring an additional 53 shares in the last quarter. Flinton Capital Management LLC lifted its position in Invesco PLC by 0.8% during the 2nd quarter. Flinton Capital Management LLC now owns 10,368 shares of the asset manager’s stock worth $365,000 after acquiring an additional 80 shares in the last quarter. IFC Holdings Incorporated FL lifted its position in Invesco PLC by 0.7% during the 2nd quarter. IFC Holdings Incorporated FL now owns 12,161 shares of the asset manager’s stock worth $428,000 after acquiring an additional 90 shares in the last quarter. Huntington National Bank lifted its position in Invesco PLC by 0.7% during the 2nd quarter. Huntington National Bank now owns 14,321 shares of the asset manager’s stock worth $504,000 after acquiring an additional 103 shares in the last quarter. Finally, Riverhead Capital Management LLC lifted its position in Invesco PLC by 1.3% during the 2nd quarter. Riverhead Capital Management LLC now owns 11,593 shares of the asset manager’s stock worth $408,000 after acquiring an additional 144 shares in the last quarter. 79.79% of the stock is currently owned by hedge funds and other institutional investors.

Invesco PLC Company Profile

Invesco Ltd. (Invesco) is an independent investment management company. The Company provides a range of investment capabilities and outcomes, which are delivered through a set of investment vehicles, to help clients achieve their investment objectives. It has a presence in the retail and institutional markets within the investment management industry in North America; Europe, Middle East and Africa (EMEA), and Asia-Pacific.

Analyst Recommendations for Invesco PLC (NYSE:IVZ)

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