Eaton Vance (NYSE:EV) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued on Thursday.

According to Zacks, “Shares of Eaton Vance have underperformed the industry over the past three months. Also, the company does not have an impressive earnings surprise history, having surpassed the Zacks Consensus Estimate in one of the trailing four quarters. Further, its earnings estimate has remained stable ahead of its third quarter fiscal 2018 results. While revenue growth is expected to continue, mainly driven by steadily improving assets under management (AUM), mounting expenses will likely hurt its bottom-line growth to some extent. Also, high debt levels might limit the company’s flexibility in terms of procuring additional finance.”

EV has been the topic of a number of other reports. Bank of America raised shares of Eaton Vance from a “neutral” rating to a “buy” rating and set a $51.00 target price on the stock in a research note on Wednesday, May 2nd. Credit Suisse Group lifted their target price on shares of Eaton Vance from $57.00 to $61.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 23rd. ValuEngine raised shares of Eaton Vance from a “hold” rating to a “buy” rating in a research note on Monday, May 7th. Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $59.00 target price on shares of Eaton Vance in a research note on Wednesday, April 11th. Finally, Citigroup lifted their target price on shares of Eaton Vance from $63.50 to $65.50 and gave the stock a “buy” rating in a research note on Tuesday, May 22nd. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $58.63.

Shares of Eaton Vance opened at $52.36 on Thursday, Marketbeat.com reports. The company has a current ratio of 8.05, a quick ratio of 8.05 and a debt-to-equity ratio of 0.67. Eaton Vance has a 12 month low of $45.06 and a 12 month high of $60.95. The stock has a market cap of $6.33 billion, a price-to-earnings ratio of 21.11, a PEG ratio of 0.86 and a beta of 1.64.

Eaton Vance (NYSE:EV) last issued its earnings results on Tuesday, May 22nd. The asset manager reported $0.77 EPS for the quarter, hitting analysts’ consensus estimates of $0.77. Eaton Vance had a net margin of 19.82% and a return on equity of 33.96%. The company had revenue of $414.30 million for the quarter, compared to the consensus estimate of $421.71 million. During the same period in the previous year, the firm earned $0.62 earnings per share. Eaton Vance’s quarterly revenue was up 10.6% compared to the same quarter last year. research analysts anticipate that Eaton Vance will post 3.2 EPS for the current fiscal year.

Institutional investors have recently added to or reduced their stakes in the company. Mount Yale Investment Advisors LLC purchased a new stake in shares of Eaton Vance in the 1st quarter valued at approximately $103,000. Clarus Wealth Advisors purchased a new stake in shares of Eaton Vance in the 2nd quarter valued at approximately $131,000. Synovus Financial Corp purchased a new stake in shares of Eaton Vance in the 1st quarter valued at approximately $182,000. Sit Investment Associates Inc. raised its stake in shares of Eaton Vance by 44.3% in the 2nd quarter. Sit Investment Associates Inc. now owns 3,500 shares of the asset manager’s stock valued at $183,000 after acquiring an additional 1,075 shares during the period. Finally, TLP Group LLC raised its stake in shares of Eaton Vance by 6,198.3% in the 1st quarter. TLP Group LLC now owns 3,653 shares of the asset manager’s stock valued at $203,000 after acquiring an additional 3,595 shares during the period. 69.09% of the stock is currently owned by institutional investors and hedge funds.

Eaton Vance Company Profile

Eaton Vance Corp., through its subsidiaries, engages in the creation, marketing, and management of investment funds in the United States. It also provides investment management and counseling services to institutions and individuals. Further, the company operates as an adviser and distributor of investment companies and separate accounts.

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