ValuEngine upgraded shares of Eaton Vance (NYSE:EV) from a hold rating to a buy rating in a report published on Sunday morning.

Other equities research analysts have also recently issued reports about the company. Zacks Investment Research raised Eaton Vance from a hold rating to a buy rating and set a $57.00 price target for the company in a report on Thursday, November 2nd. Deutsche Bank started coverage on Eaton Vance in a report on Tuesday, October 17th. They set a buy rating and a $57.00 price target for the company. Keefe, Bruyette & Woods reaffirmed a hold rating and set a $53.00 price target on shares of Eaton Vance in a report on Friday, November 10th. Jefferies Group reaffirmed a hold rating and set a $46.00 price target on shares of Eaton Vance in a report on Thursday, October 26th. Finally, Bank of America raised their price target on Eaton Vance from $49.00 to $51.00 and gave the company a neutral rating in a report on Tuesday, October 31st. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and three have assigned a buy rating to the company’s stock. The stock has an average rating of Hold and an average price target of $52.06.

Eaton Vance (NYSE:EV) traded up $0.38 during trading on Friday, reaching $56.77. The company’s stock had a trading volume of 1,050,000 shares, compared to its average volume of 731,500. The company has a debt-to-equity ratio of 0.62, a quick ratio of 5.44 and a current ratio of 5.44. The firm has a market cap of $6,658.41, a PE ratio of 23.46, a price-to-earnings-growth ratio of 0.93 and a beta of 1.90. Eaton Vance has a 12-month low of $41.40 and a 12-month high of $57.71.

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

In related news, Director Dorothy E. Puhy sold 5,953 shares of the firm’s stock in a transaction on Thursday, October 26th. The stock was sold at an average price of $51.08, for a total transaction of $304,079.24. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Jeffrey P. Beale sold 24,140 shares of the firm’s stock in a transaction on 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. Insiders sold a total of 278,134 shares of company stock worth $14,269,483 over the last 90 days.

A number of institutional investors have recently modified their holdings of the stock. WFG Advisors LP raised its stake in Eaton Vance by 0.6% during the 2nd quarter. WFG Advisors LP now owns 2,337 shares of the asset manager’s stock worth $111,000 after buying an additional 14 shares during the period. Advisor Group Inc. raised its stake in shares of Eaton Vance by 1.0% in 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 raised its stake in shares of Eaton Vance by 1.0% in 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 raised its stake in shares of Eaton Vance by 1.0% in 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. raised its stake in shares of Eaton Vance by 0.3% in 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 currently owned by institutional investors and hedge funds.

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Eaton Vance Company Profile

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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