Price Don’t Lie: What Next for Evercore Partners Inc. Stock After Reaching 52-Week High?

Price Don't Lie: What Next for Evercore Partners Inc. Stock After Reaching 52 Week High?

The stock of Evercore Partners Inc. (NYSE:EVR) hit a new 52-week high and has $90.94 target or 38.00% above today’s $65.90 share price. The 8 months bullish chart indicates low risk for the $2.99 billion company. The 1-year high was reported on Nov, 17 by Barchart.com. If the $90.94 price target is reached, the company will be worth $1.14 billion more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 353,639 shares traded hands. Evercore Partners Inc. (NYSE:EVR) has risen 28.35% since April 15, 2016 and is uptrending. It has outperformed by 23.73% the S&P500.

Evercore Partners Inc. (NYSE:EVR) Ratings Coverage

Out of 7 analysts covering Evercore Partners (NYSE:EVR), 3 rate it a “Buy”, 0 “Sell”, while 4 “Hold”. This means 43% are positive. Evercore Partners has been the topic of 14 analyst reports since September 8, 2015 according to StockzIntelligence Inc. Susquehanna downgraded the stock to “Neutral” rating in Tuesday, November 10 report. Susquehanna maintained Evercore Partners Inc. (NYSE:EVR) rating on Monday, October 12. Susquehanna has “Positive” rating and $61 price target. The company was downgraded on Monday, November 9 by Nomura. The rating was downgraded by Craig Hallum to “Hold” on Wednesday, March 16. The stock of Evercore Partners Inc. (NYSE:EVR) earned “Neutral” rating by UBS on Thursday, February 4. Goldman Sachs upgraded the stock to “Conviction Buy” rating in Tuesday, January 12 report. The stock has “Buy” rating given by Nomura on Friday, October 28.

According to Zacks Investment Research, “EVERCORE PARTNERS is a leading investment banking boutique providing advisory services to prominent multinational corporations on significant mergers, acquisitions, divestitures, restructurings and other strategic corporate transactions. Evercore also has a successful investment management business through which they also manage private equity and venture capital funds for sophisticated institutional investors.”

Insitutional Activity: The institutional sentiment decreased to 1.07 in Q2 2016. Its down 0.25, from 1.32 in 2016Q1. The ratio turned negative, as 36 funds sold all Evercore Partners Inc. shares owned while 66 reduced positions. 37 funds bought stakes while 72 increased positions. They now own 34.38 million shares or 1.72% less from 34.98 million shares in 2016Q1.
Aqr Capital Management Limited Liability Company holds 0% of its portfolio in Evercore Partners Inc. (NYSE:EVR) for 5,772 shares. Independent Consultants has 1,165 shares for 0.02% of their US portfolio. Cubist Systematic Strategies Limited Com owns 8,206 shares or 0.02% of their US portfolio. Savings Bank Of New York Mellon Corp, a New York-based fund reported 599,886 shares. Lpl Limited Liability Com has 0.01% invested in the company for 24,658 shares. Delta Asset Management Limited Liability Corporation Tn holds 0% of its portfolio in Evercore Partners Inc. (NYSE:EVR) for 53 shares. Manufacturers Life Insur The has invested 0% of its portfolio in Evercore Partners Inc. (NYSE:EVR). Great Lakes Ltd Llc holds 28,122 shares or 0.03% of its portfolio. Amer Century Cos last reported 0.01% of its portfolio in the stock. Ajo L P holds 132,074 shares or 0.03% of its portfolio. Paloma Prns Management Com last reported 15,683 shares in the company. Tower Research Cap Limited Liability (Trc) last reported 4,413 shares in the company. Alliancebernstein L P has 58,624 shares for 0% of their US portfolio. Springbok Capital holds 300 shares or 0% of its portfolio. Gray Financial Ga Adv Adv owns 5,907 shares or 0% of their US portfolio.

Insider Transactions: Since August 10, 2016, the stock had 0 insider buys, and 6 insider sales for $27.23 million net activity. $6.40M worth of Evercore Partners Inc. (NYSE:EVR) shares were sold by SCHLOSSTEIN RALPH. SIBBALD ANDREW had sold 125,000 shares worth $6.40 million on Tuesday, August 23.

More news for Evercore Partners Inc. (NYSE:EVR) were recently published by: Bloomberg.com, which released: “Evercore Adds Ex-Goldman Banker John Weinberg as Chairman” on November 16, 2016. Equitiesfocus.com‘s article titled: “Dividend Payout Of Evercore Partners Inc (NYSE:EVR) At $0.34” and published on November 16, 2016 is yet another important article.

EVR Company Profile

Evercore Partners Inc. (Evercore), incorporated on July 21, 2005, is an independent investment banking advisory firm. The Firm operates through two business divisions: Investment Banking and Investment Management.

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