Zacks Investment Research upgraded shares of Eaton Vance Corp. (NYSE:EV) from a hold rating to a buy rating in a research note released on Friday. The brokerage currently has $43.00 price objective on the stock.

According to Zacks, “Eaton Vance Corp.’s principal business is creating, marketing and managing investment funds and providing investment management and counseling services to institutions and individuals.The Company conducts its investment management and counseling business through two wholly-owned subsidiaries, Eaton Vance Management and Boston Management and Research.The Company’s growth has resulted from its ability to develop, offer successfully and manage effectively new funds and to increase the assets of existing Eaton Vance Funds. “

Analyst Recommendations for Eaton Vance Corp. (NYSE:EV)

Other equities analysts have also recently issued reports about the stock. Keefe, Bruyette & Woods reaffirmed a hold rating on shares of Eaton Vance Corp. in a research note on Sunday, May 29th. Jefferies Group reaffirmed a hold rating and issued a $34.00 price objective (up from $30.00) on shares of Eaton Vance Corp. in a research note on Thursday, May 19th. Finally, Credit Suisse Group AG reaffirmed a hold rating and issued a $37.00 price objective on shares of Eaton Vance Corp. in a research note on Thursday, September 1st. Six research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The company currently has a consensus rating of Hold and a consensus target price of $37.54.

Eaton Vance Corp. (NYSE:EV) opened at 38.86 on Friday. Eaton Vance Corp. has a 1-year low of $26.44 and a 1-year high of $40.36. The firm has a market capitalization of $4.23 billion, a P/E ratio of 18.66 and a beta of 1.70. The stock has a 50 day moving average of $39.02 and a 200-day moving average of $35.94.

Eaton Vance Corp. (NYSE:EV) last announced its quarterly earnings data on Wednesday, August 17th. The company reported $0.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.55 by $0.01. Eaton Vance Corp. had a net margin of 17.83% and a return on equity of 39.06%. The firm had revenue of $341.20 million for the quarter. During the same period in the previous year, the business posted $0.57 earnings per share. Eaton Vance Corp.’s revenue was down 4.0% compared to the same quarter last year. On average, equities research analysts anticipate that Eaton Vance Corp. will post $2.14 earnings per share for the current year.

In other Eaton Vance Corp. news, Director Winthrop H. Smith, Jr. sold 8,197 shares of Eaton Vance Corp. stock in a transaction on Thursday, June 23rd. The shares were sold at an average price of $37.20, for a total value of $304,928.40. Following the sale, the director now directly owns 17,197 shares in the company, valued at approximately $639,728.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Matthew J. Witkos sold 94,408 shares of Eaton Vance Corp. stock in a transaction on Friday, September 2nd. The shares were sold at an average price of $40.08, for a total transaction of $3,783,872.64. Following the completion of the sale, the chief executive officer now owns 197,077 shares in the company, valued at $7,898,846.16. The disclosure for this sale can be found here.

Large investors have recently modified their holdings of the stock. Northwest Investment Counselors LLC raised its stake in shares of Eaton Vance Corp. by 0.9% in the second quarter. Northwest Investment Counselors LLC now owns 15,183 shares of the company’s stock valued at $537,000 after buying an additional 134 shares during the last quarter. Shelton Capital Management raised its stake in shares of Eaton Vance Corp. by 1.8% in the second quarter. Shelton Capital Management now owns 11,529 shares of the company’s stock valued at $407,000 after buying an additional 200 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec raised its stake in shares of Eaton Vance Corp. by 1.2% in the second quarter. Caisse DE Depot ET Placement DU Quebec now owns 17,400 shares of the company’s stock valued at $615,000 after buying an additional 200 shares during the last quarter. United Services Automobile Association raised its stake in shares of Eaton Vance Corp. by 2.3% in the second quarter. United Services Automobile Association now owns 13,180 shares of the company’s stock valued at $466,000 after buying an additional 300 shares during the last quarter. Finally, Sumitomo Mitsui Asset Management Company LTD raised its stake in shares of Eaton Vance Corp. by 3.8% in the second quarter. Sumitomo Mitsui Asset Management Company LTD now owns 8,256 shares of the company’s stock valued at $291,000 after buying an additional 304 shares during the last quarter. Hedge funds and other institutional investors own 70.88% of the company’s stock.

Eaton Vance Corp. Company Profile

Eaton Vance Corp. is engaged in business of managing investment funds and providing investment management and advisory services to individuals and institutions. The Company seeks to develop and sustain management expertise across a range of investment disciplines, and offer investment products and services through various distribution channels.

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