Eaton Vance (NYSE:EV) was downgraded by analysts at ValuEngine from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Wednesday.

EV has been the subject of several other research reports. Zacks Investment Research cut Eaton Vance from a “hold” rating to a “sell” rating in a research note on Thursday, August 9th. Citigroup cut their target price on Eaton Vance from $62.00 to $60.50 and set a “buy” rating for the company in a research note on Thursday, August 30th. Finally, Deutsche Bank cut their target price on Eaton Vance from $64.00 to $63.00 and set a “buy” rating for the company in a research note on Thursday, September 27th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $58.31.

EV stock opened at $45.47 on Wednesday. The company has a quick ratio of 8.35, a current ratio of 8.35 and a debt-to-equity ratio of 1.14. The firm has a market cap of $6.20 billion, a price-to-earnings ratio of 18.92, a price-to-earnings-growth ratio of 0.88 and a beta of 1.63. Eaton Vance has a 52-week low of $45.40 and a 52-week high of $60.95.

Eaton Vance (NYSE:EV) last posted its earnings results on Wednesday, August 29th. The asset manager reported $0.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.81 by $0.01. The company had revenue of $430.60 million during the quarter, compared to analysts’ expectations of $430.11 million. Eaton Vance had a return on equity of 34.91% and a net margin of 21.44%. The firm’s quarterly revenue was up 9.4% compared to the same quarter last year. During the same quarter last year, the firm earned $0.62 earnings per share. As a group, equities research analysts anticipate that Eaton Vance will post 3.21 earnings per share for the current fiscal year.

In other news, Director Brian D. Langstraat sold 13,000 shares of Eaton Vance stock in a transaction on Thursday, October 11th. The stock was sold at an average price of $47.50, for a total value of $617,500.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Hedge funds and other institutional investors have recently modified their holdings of the company. Mount Yale Investment Advisors LLC acquired a new stake in shares of Eaton Vance in the first quarter valued at $103,000. Clarus Wealth Advisors purchased a new position in Eaton Vance in the second quarter valued at $131,000. Cerebellum GP LLC boosted its holdings in Eaton Vance by 525.0% in the third quarter. Cerebellum GP LLC now owns 3,325 shares of the asset manager’s stock valued at $175,000 after purchasing an additional 2,793 shares during the period. Sit Investment Associates Inc. boosted its holdings in Eaton Vance by 44.3% in the second quarter. Sit Investment Associates Inc. now owns 3,500 shares of the asset manager’s stock valued at $183,000 after purchasing an additional 1,075 shares during the period. Finally, Korea Investment CORP purchased a new position in Eaton Vance in the second quarter valued at $193,000. 68.40% of the stock is owned by institutional investors and hedge funds.

Eaton Vance Company Profile

Eaton Vance Corp., through its subsidiaries, engages in the creation, marketing, and management of investment funds in the United States. It also provides investment management and counseling services to institutions and individuals. Further, the company operates as an adviser and distributor of investment companies and separate accounts.

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Analyst Recommendations for Eaton Vance (NYSE:EV)

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