The stock of Invesco Ltd. (NYSE:IVZ) is now priced at $10.18 and the shares are -0.02 points down or -0.2% lower compared to its previous closing price of $10.2. The stock had 5.087 million contracts set over the past session. IVZ shares’ daily volume is compared to its average trading volume at 6.516 million shares. However, it has a float of 376 million and although its performance was -4.86% over the week, it’s one to watch. Analysts have given the IVZ stock a yearly average price target of $10.07 per share. It means the stock’s downside potential is -1.08% with the IVZ share price recently placing at $10.02 to $10.325. However, some brokerage firms have priced the stock below the average, including one that has called $4.5.
The shorts are running away from the Invesco Ltd. stock, with the latest data on short interest released on July 31, 2020, showing that short interest numbers in the IVZ shares have declined. Short interest in the stock represents just 9.42% of its float, but the volume has dropped by 0.
In the last trading session, Invesco Ltd. (NYSE:IVZ) dropped by -$0.52 over the week and gained $0.41 on its 20-day. The stock’s high in the recent session is lower when compared to its 52-week high of $19.01. The stock recorded its established 52-week high on 02/12/20.
Since 05/14/20, the stock has traded to a low of $6.38 at 59.69%, an encouraging piece of data likely to interest most investors out to exploit the stock’s recent surge. The stock has a beta allocation of 1.45. Being above 1 means that the stock’s volatility is higher than the market and traders are keenly watching it.
Looking at current readings, Invesco Ltd.’s two-week RSI is 44.56. This suggests that the stock is neutral at the moment and that IVZ shares’ price movement remains stable. The stochastic readings are equally revealing at 25.77% meaning the IVZ share price is currently in overbought territory.
The technical chart shows that the IVZ stock will likely settle at between $10.33 and $10.48 per share. However, if the stock dips below $10.03, then its market would become much weaker. Any downside could see the stock price sliding to levels as low as $9.87.
Currently, the stock is trading in the red of MACD, with a reading of -0.07. Investors always pay attention to any move above or below the zero-line, mainly because the indicator points to the position of the stock’s short-term average relative to its long-term measure. A MACD -a reading above the zero line means that the short-term is above the long-term average. This scenario implies that there is an upward momentum. The opposite is true when the MACD falls below the zero-line.
Analysts at Barclays cut their recommendation for IVZ from Equal Weight to Underweight in August 13 review while maintai their target price of $11. Keefe Bruyette analysts downgraded their recommendation of the stock from Outperform to Mkt Perform while keeping its target price at $8.25 in a flash note released to investors on April 24. Citigroup seeing the stock struggling downgraded it from Neutral to Sell on April 15 placing it at $5.5.
The average rating for the IVZ equity is 3.12 and is currently gathering a bearish momentum. Of 17 analysts tracking Invesco Ltd. polled by Reuters, 10 rated IVZ as a hold. The remaining 7 analysts were split evenly. However, the split wasn’t equal as a majority (2) rated it as a buy or strong buy. 5 analyst advised investors against buying the stock or to sell if they own any of the stock.
Elsewhere, the IVZ stock price is 6.03X ahead of its 12-month Consensus earnings per share estimates. The stocks P/S ratio currently stands at 10 below the group’s average of 21. Invesco Ltd. has its P/E ratio at 0.5, which means that the stock is currently trading at a discount relative to the 1.4 industry average.
Zacks Consensus Estimate forecasts that the current-quarter revenues for Invesco Ltd. (NYSE:IVZ) will decrease by about -20.42%, which will see them reach $1060 million. The company’s full-year revenues are, however, expected to diminish by about -2.71%, down from $4420 million to $4300 million. IVZ’s expected adjusted earnings should drop almost -37.14% to end up at $0.44 per share, while for the fiscal year, analysts project the company’s earnings to drop by about -38.82% to record $1.56/share.