Today’s Price Action: What’s Next for Evercore Partners Inc. After Reaching 52-Week High?

Today's Price Action: What's Next for Evercore Partners Inc. After Reaching 52 Week High?

The stock of Evercore Partners Inc. (NYSE:EVR) hit a new 52-week high and has $70.28 target or 6.00% above today’s $66.30 share price. The 7 months bullish chart indicates low risk for the $2.87B company. The 1-year high was reported on Nov, 23 by Barchart.com. If the $70.28 price target is reached, the company will be worth $172.20M 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 338,559 shares traded hands. Evercore Partners Inc. (NYSE:EVR) has risen 29.75% since April 21, 2016 and is uptrending. It has outperformed by 24.42% the S&P500.

Analysts await Evercore Partners Inc. (NYSE:EVR) to report earnings on February, 1. They expect $1.27 EPS, up 4.10% or $0.05 from last year’s $1.22 per share. EVR’s profit will be $54.98 million for 13.05 P/E if the $1.27 EPS becomes a reality. After $1.22 actual EPS reported by Evercore Partners Inc. for the previous quarter, Wall Street now forecasts 4.10% EPS growth.

Evercore Partners Inc. (NYSE:EVR) Ratings Coverage

Out of 8 analysts covering Evercore Partners (NYSE:EVR), 3 rate it a “Buy”, 0 “Sell”, while 5 “Hold”. This means 38% are positive. Evercore Partners has been the topic of 15 analyst reports since September 8, 2015 according to StockzIntelligence Inc. Susquehanna downgraded Evercore Partners Inc. (NYSE:EVR) on Tuesday, November 10 to “Neutral” rating. On Friday, October 28 the stock rating was upgraded by Nomura to “Buy”. Nomura downgraded the stock to “Neutral” rating in Monday, November 9 report. The firm earned “Neutral” rating on Thursday, February 4 by UBS. The company was upgraded on Tuesday, January 12 by Goldman Sachs. The rating was downgraded by Craig Hallum on Wednesday, March 16 to “Hold”. JMP Securities downgraded the stock to “Mkt Perform” rating in Friday, November 18 report. The rating was maintained by Susquehanna with “Positive” on Monday, October 12.

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 1.05 in Q2 2016. Its down 0.02, from 1.07 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.
Nuveen Asset Mgmt Limited Company, a Illinois-based fund reported 158,111 shares. Pinebridge Investments L P has invested 0.01% of its portfolio in Evercore Partners Inc. (NYSE:EVR). Tower Research Limited Liability Company (Trc) holds 0.02% of its portfolio in Evercore Partners Inc. (NYSE:EVR) for 4,413 shares. Vanguard Group Inc accumulated 0.01% or 2.83 million shares. The Pennsylvania-based Janney Montgomery Scott Lc has invested 0.01% in Evercore Partners Inc. (NYSE:EVR). Ibm Retirement Fund has invested 0.01% of its portfolio in Evercore Partners Inc. (NYSE:EVR). Prudential Financial accumulated 0.01% or 110,568 shares. Amer Intll Gru has 29,166 shares for 0% of their US portfolio. Qs Invsts Lc owns 124,639 shares or 0.05% of their US portfolio. Us Retail Bank De holds 0% or 7,536 shares in its portfolio. Moreover, Blackrock Advisors Lc has 0% invested in Evercore Partners Inc. (NYSE:EVR) for 19,615 shares. Weatherbie Capital Limited Liability holds 0.26% of its portfolio in Evercore Partners Inc. (NYSE:EVR) for 42,027 shares. Bancorp Of Mellon has invested 0.01% of its portfolio in Evercore Partners Inc. (NYSE:EVR). Old Natl Bank In has 0.02% invested in the company for 8,552 shares. Moreover, Nationwide Fund has 0.03% invested in Evercore Partners Inc. (NYSE:EVR) for 144,451 shares.

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

More news for Evercore Partners Inc. (NYSE:EVR) were recently published by: Bloomberg.com, which released: “Evercore’s John Weinberg Set for $94 Million in Cash, Stock” on November 18, 2016. Bloomberg.com‘s article titled: “Evercore Adds Ex-Goldman Banker John Weinberg as Chairman” 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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