Eaton Vance (EV) Given New $64.00 Price Target at Deutsche Bank

Eaton Vance (NYSE:EV) had its price objective raised by Deutsche Bank from $61.00 to $64.00 in a research report report published on Friday morning. The firm currently has a buy rating on the asset manager’s stock.

A number of other brokerages have also recently weighed in on EV. Zacks Investment Research cut shares of Eaton Vance from a buy rating to a hold rating in a research note on Tuesday, March 6th. JPMorgan Chase set a $58.00 price objective on shares of Eaton Vance and gave the stock a hold rating in a research report on Wednesday, February 21st. Finally, ValuEngine upgraded shares of Eaton Vance from a hold rating to a buy rating in a research report on Sunday, December 31st. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and two have assigned a buy rating to the company. The stock presently has a consensus rating of Hold and an average target price of $55.56.

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Shares of Eaton Vance stock traded down $1.51 during trading hours on Friday, hitting $54.35. The company had a trading volume of 631,516 shares, compared to its average volume of 616,460. Eaton Vance has a twelve month low of $42.20 and a twelve month high of $60.95. The company has a current ratio of 9.40, a quick ratio of 9.40 and a debt-to-equity ratio of 0.60. The stock has a market cap of $6,707.15, a price-to-earnings ratio of 21.92, a PEG ratio of 0.65 and a beta of 1.69.

Eaton Vance (NYSE:EV) last issued its earnings results on Tuesday, February 27th. The asset manager reported $0.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.75 by $0.03. The business had revenue of $421.40 million during the quarter, compared to analysts’ expectations of $420.62 million. Eaton Vance had a net margin of 18.77% and a return on equity of 34.09%. The company’s revenue for the quarter was up 18.7% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.53 EPS. analysts forecast that Eaton Vance will post 3.35 earnings per share for the current fiscal year.

In other news, CEO Matthew J. Witkos sold 25,000 shares of the stock in a transaction dated Friday, January 12th. The shares were sold at an average price of $60.35, for a total value of $1,508,750.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Dorothy E. Puhy sold 9,490 shares of the stock in a transaction dated Tuesday, January 16th. The shares were sold at an average price of $60.49, for a total transaction of $574,050.10. The disclosure for this sale can be found here.

Several institutional investors and hedge funds have recently made changes to their positions in the company. BlackRock Inc. increased its holdings in Eaton Vance by 5.0% during the 4th quarter. BlackRock Inc. now owns 11,297,677 shares of the asset manager’s stock valued at $637,078,000 after acquiring an additional 533,248 shares in the last quarter. Earnest Partners LLC increased its holdings in Eaton Vance by 0.5% during the 3rd quarter. Earnest Partners LLC now owns 1,795,310 shares of the asset manager’s stock valued at $88,634,000 after acquiring an additional 8,804 shares in the last quarter. Goldman Sachs Group Inc. increased its holdings in Eaton Vance by 199.5% during the 4th quarter. Goldman Sachs Group Inc. now owns 1,576,133 shares of the asset manager’s stock valued at $88,879,000 after acquiring an additional 1,049,947 shares in the last quarter. Geode Capital Management LLC increased its holdings in Eaton Vance by 5.0% during the 4th quarter. Geode Capital Management LLC now owns 1,071,518 shares of the asset manager’s stock valued at $60,397,000 after acquiring an additional 51,415 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in Eaton Vance by 7.8% during the 3rd quarter. Dimensional Fund Advisors LP now owns 1,070,988 shares of the asset manager’s stock valued at $52,876,000 after acquiring an additional 77,906 shares in the last quarter. Institutional investors and hedge funds own 70.59% of the company’s stock.

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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.

Analyst Recommendations for Eaton Vance (NYSE:EV)

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