ValuEngine Upgrades Eaton Vance (EV) to Buy

ValuEngine upgraded shares of Eaton Vance (NYSE:EV) from a hold rating to a buy rating in a research note issued to investors on Sunday morning.

Several other equities analysts have also issued reports on EV. Deutsche Bank assumed coverage on Eaton Vance in a research report on Tuesday, October 17th. They issued a buy rating and a $57.00 price target for the company. Bank of America lifted their price target on Eaton Vance from $49.00 to $51.00 and gave the stock a neutral rating in a research report on Tuesday, October 31st. Jefferies Group reaffirmed a hold rating and issued a $46.00 price target on shares of Eaton Vance in a research report on Thursday, October 26th. Zacks Investment Research lowered Eaton Vance from a hold rating to a sell rating in a research report on Tuesday, October 17th. Finally, Keefe, Bruyette & Woods reaffirmed a hold rating and issued a $53.00 price target on shares of Eaton Vance in a research report on Friday, November 10th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and three have issued a buy rating to the company’s stock. Eaton Vance has an average rating of Hold and an average target price of $52.06.

Shares of Eaton Vance (NYSE:EV) traded up $0.38 during mid-day trading on Friday, hitting $57.15. 614,300 shares of the stock were exchanged, compared to its average volume of 832,150. Eaton Vance has a 1 year low of $41.40 and a 1 year high of $57.71. The company has a market cap of $6,703.28, a PE ratio of 23.62, a PEG ratio of 0.94 and a beta of 1.90. The company has a current ratio of 5.44, a quick ratio of 5.44 and a debt-to-equity ratio of 0.62.

Eaton Vance (NYSE:EV) last announced its earnings results on Tuesday, November 21st. The asset manager reported $0.70 EPS for the quarter, missing the Zacks’ consensus estimate of $0.71 by ($0.01). The business had revenue of $405.70 million for the quarter, compared to the consensus estimate of $407.75 million. Eaton Vance had a net margin of 18.45% and a return on equity of 33.45%. The business’s quarterly revenue was up 17.0% on a year-over-year basis. During the same quarter last year, the firm posted $0.57 EPS. equities research analysts expect that Eaton Vance will post 2.99 earnings per share for the current year.

In other Eaton Vance news, CFO Laurie G. Hylton sold 21,371 shares of the business’s stock in a transaction dated Thursday, October 12th. The stock was sold at an average price of $50.60, for a total value of $1,081,372.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jeffrey P. Beale sold 24,140 shares of the business’s stock in a transaction dated Wednesday, October 18th. The stock was sold at an average price of $51.36, for a total value of $1,239,830.40. The disclosure for this sale can be found here. In the last three months, insiders sold 278,134 shares of company stock valued at $14,269,483.

A number of large investors have recently modified their holdings of the business. WFG Advisors LP grew its stake in shares of Eaton Vance by 0.6% during the 2nd quarter. WFG Advisors LP now owns 2,337 shares of the asset manager’s stock valued at $111,000 after purchasing an additional 14 shares during the period. Advisor Group Inc. grew its stake in shares of Eaton Vance by 1.0% during the 2nd quarter. Advisor Group Inc. now owns 4,782 shares of the asset manager’s stock valued at $225,000 after purchasing an additional 47 shares during the period. Utah Retirement Systems grew its stake in shares of Eaton Vance by 1.0% during the 2nd quarter. Utah Retirement Systems now owns 20,182 shares of the asset manager’s stock valued at $955,000 after purchasing an additional 200 shares during the period. Tredje AP fonden grew its stake in shares of Eaton Vance by 1.0% during the 2nd quarter. Tredje AP fonden now owns 24,630 shares of the asset manager’s stock valued at $1,165,000 after purchasing an additional 233 shares during the period. Finally, Prudential Financial Inc. grew its stake in shares of Eaton Vance by 0.3% during the 2nd quarter. Prudential Financial Inc. now owns 92,632 shares of the asset manager’s stock valued at $4,383,000 after purchasing an additional 280 shares during the period. 68.73% of the stock is owned by institutional investors and hedge funds.

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About Eaton Vance

Eaton Vance Corp. is engaged in the business of managing investment funds and providing investment management and advisory services to high-net-worth individuals and institutions. The Company operates as an investment advisor to funds and separate accounts. The Company, through its subsidiaries and other affiliates, manages active equity, income and alternative strategies across a range of investment styles and asset classes, including the United States and global equities, floating-rate bank loans, municipal bonds, global income, high-yield and investment grade bonds.

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Eaton Vance (NYSE:EV)

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