Zacks Research Upgrades Invesco (NYSE:IVZ) to Strong-Buy

Invesco (NYSE:IVZ) was upgraded by equities research analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a research note issued to investors on Thursday,Zacks.com reports.

A number of other analysts have also recently commented on the company. JPMorgan Chase & Co. upped their price objective on Invesco from $29.00 to $29.50 and gave the company a “neutral” rating in a research report on Wednesday. Wall Street Zen raised Invesco from a “hold” rating to a “buy” rating in a research report on Saturday. Royal Bank Of Canada boosted their price target on Invesco from $33.00 to $35.00 and gave the company an “outperform” rating in a research note on Wednesday. Evercore set a $32.00 price target on shares of Invesco in a research report on Friday, July 10th. Finally, Jefferies Financial Group upgraded shares of Invesco to a “hold” rating in a research note on Tuesday, June 30th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and ten have given a Hold rating to the company. According to MarketBeat, Invesco has a consensus rating of “Hold” and an average target price of $29.88.

Invesco Trading Up 0.8%

NYSE:IVZ opened at $29.64 on Thursday. The company has a current ratio of 1.45, a quick ratio of 1.45 and a debt-to-equity ratio of 0.79. Invesco has a 12 month low of $20.08 and a 12 month high of $31.02. The company has a market cap of $13.14 billion, a PE ratio of -43.59, a price-to-earnings-growth ratio of 0.47 and a beta of 1.62. The company has a 50 day simple moving average of $28.22 and a two-hundred day simple moving average of $26.70.

Invesco (NYSE:IVZ) last released its quarterly earnings results on Tuesday, July 28th. The asset manager reported $0.71 earnings per share for the quarter, beating the consensus estimate of $0.67 by $0.04. The firm had revenue of $1.33 billion for the quarter, compared to analysts’ expectations of $1.32 billion. Invesco had a positive return on equity of 12.03% and a negative net margin of 0.93%.The company’s revenue was up 20.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.36 EPS. Research analysts forecast that Invesco will post 2.81 earnings per share for the current year.

Institutional Investors Weigh In On Invesco

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Contravisory Investment Management Inc. lifted its position in shares of Invesco by 1.8% in the second quarter. Contravisory Investment Management Inc. now owns 49,852 shares of the asset manager’s stock valued at $1,316,000 after acquiring an additional 882 shares in the last quarter. Gradient Investments LLC bought a new position in shares of Invesco in the second quarter worth about $742,000. Sonoma Allocations LLC purchased a new stake in shares of Invesco during the second quarter worth about $11,797,000. Czech National Bank grew its position in shares of Invesco by 4.3% during the second quarter. Czech National Bank now owns 126,179 shares of the asset manager’s stock worth $3,330,000 after purchasing an additional 5,258 shares in the last quarter. Finally, GAMMA Investing LLC raised its stake in Invesco by 4.8% during the 2nd quarter. GAMMA Investing LLC now owns 39,656 shares of the asset manager’s stock valued at $1,047,000 after purchasing an additional 1,799 shares during the period. 66.09% of the stock is owned by institutional investors.

About Invesco

Invesco Ltd. is an independent global investment management firm headquartered in Atlanta, Georgia, and publicly traded on the New York Stock Exchange (NYSE: IVZ). With origins dating back to 1935, the company is dedicated to offering a wide array of investment strategies and solutions to both individual and institutional clients worldwide.

The firm’s product suite encompasses actively managed equity and fixed income funds, passive index funds, exchange-traded funds (ETFs), closed-end funds, and unit investment trusts, alongside specialized offerings such as private markets, real estate, and structured products.