KeyCorp Raises Invacare (IVC) Price Target to $21.00

Invacare (NYSE:IVC) had its target price lifted by stock analysts at KeyCorp from $20.00 to $21.00 in a note issued to investors on Friday. The firm presently has an “overweight” rating on the health services provider’s stock. KeyCorp’s target price suggests a potential upside of 13.51% from the stock’s previous close.

Other analysts also recently issued research reports about the company. Zacks Investment Research upgraded Invacare from a “sell” rating to a “hold” rating in a research note on Wednesday, January 31st. ValuEngine upgraded Invacare from a “sell” rating to a “hold” rating in a research note on Sunday, December 31st. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $16.50.

Invacare (IVC) opened at $18.50 on Friday. The company has a quick ratio of 1.57, a current ratio of 2.28 and a debt-to-equity ratio of 0.55. The firm has a market capitalization of $672.06, a PE ratio of -7.87 and a beta of 2.55. Invacare has a 1-year low of $9.90 and a 1-year high of $19.05.

Invacare (NYSE:IVC) last announced its quarterly earnings data on Wednesday, February 7th. The health services provider reported ($0.42) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.44) by $0.02. The business had revenue of $250.35 million for the quarter, compared to analyst estimates of $241.07 million. Invacare had a negative return on equity of 13.33% and a negative net margin of 7.95%. The company’s revenue was up 1.5% on a year-over-year basis. During the same period in the prior year, the company earned ($0.46) earnings per share. sell-side analysts anticipate that Invacare will post -1.96 EPS for the current fiscal year.

Hedge funds have recently modified their holdings of the business. 1st Global Advisors Inc. purchased a new position in Invacare during the second quarter worth approximately $138,000. Teacher Retirement System of Texas purchased a new position in shares of Invacare in the fourth quarter valued at approximately $192,000. Municipal Employees Retirement System of Michigan lifted its position in shares of Invacare by 63.1% in the third quarter. Municipal Employees Retirement System of Michigan now owns 12,360 shares of the health services provider’s stock valued at $195,000 after acquiring an additional 4,780 shares in the last quarter. Fox Run Management L.L.C. purchased a new position in shares of Invacare in the fourth quarter valued at approximately $238,000. Finally, Voya Investment Management LLC lifted its position in shares of Invacare by 10.5% in the second quarter. Voya Investment Management LLC now owns 17,271 shares of the health services provider’s stock valued at $228,000 after acquiring an additional 1,648 shares in the last quarter.

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Invacare Company Profile

Invacare Corporation is a manufacturer and distributor for medical equipment used in non-acute care settings. The Company’s geographical segments are Europe; North America, which includes North America/Home Medical Equipment (North America/HME) and Institutional Products Group (IPG) segments, and Asia/Pacific.

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