Price Action Don’t Lie: Could Evercore Partners Inc. Go Down After Achieving Record High?

Price Action Don't Lie: Could Evercore Partners Inc. Go Down After Achieving Record High?

The stock of Evercore Partners Inc. (NYSE:EVR) reached all time high today, Nov, 30 and still has $71.85 target or 7.00% above today’s $67.15 share price. This indicates more upside for the $2.92B company. This technical setup was reported by Barchart.com. If the $71.85 PT is reached, the company will be worth $204.40M more.
Trading stocks at an all time highs is usually a winning strategy. An all time high points to a stock which has the most positive fundamentals ever. Even thought the pullback rate is high, if correct risk management is utilized, investors can trade very well such events. About 168,035 shares traded hands. Evercore Partners Inc. (NYSE:EVR) has risen 30.40% since April 27, 2016 and is uptrending. It has outperformed by 25.17% 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 $55.23 million for 13.22 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. The stock of Evercore Partners Inc. (NYSE:EVR) earned “Conviction Buy” rating by Goldman Sachs on Tuesday, January 12. The firm has “Mkt Perform” rating given on Friday, November 18 by JMP Securities. Craig Hallum downgraded Evercore Partners Inc. (NYSE:EVR) on Wednesday, March 16 to “Hold” rating. On Tuesday, November 10 the stock rating was downgraded by Susquehanna to “Neutral”. UBS maintained the stock with “Neutral” rating in Thursday, February 4 report. The rating was maintained by Susquehanna on Monday, October 12 with “Positive”. The rating was upgraded by Nomura to “Buy” on Friday, October 28. Nomura downgraded the stock to “Neutral” rating in Monday, November 9 report.

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 2016 Q2. Its down 0.02, from 1.07 in 2016Q1. The ratio worsened, 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.
Deltec Asset Mgmt Ltd Liability last reported 5,836 shares in the company. Moreover, Fdx has 0.03% invested in Evercore Partners Inc. (NYSE:EVR) for 13,087 shares. Moreover, Century has 0.01% invested in Evercore Partners Inc. (NYSE:EVR) for 265,846 shares. Forward Mgmt Ltd Co holds 0.05% of its portfolio in Evercore Partners Inc. (NYSE:EVR) for 14,532 shares. The New York-based Morgan Stanley has invested 0.01% in Evercore Partners Inc. (NYSE:EVR). Suntrust Banks last reported 55,446 shares in the company. Herndon Cap Management Ltd Company accumulated 1,067 shares or 0% of the stock. Blackrock Ltd last reported 0% of its portfolio in the stock. Virginia Retirement Sys Et Al owns 26,000 shares or 0.02% of their US portfolio. California Employees Retirement System holds 0.01% of its portfolio in Evercore Partners Inc. (NYSE:EVR) for 86,800 shares. Gray Financial Grp Inc Ga Adv Adv holds 0% of its portfolio in Evercore Partners Inc. (NYSE:EVR) for 5,907 shares. Guggenheim Limited Liability Co, a Illinois-based fund reported 81,103 shares. Nuveen Asset Mgmt Limited Co owns 158,111 shares or 0.04% of their US portfolio. Yorktown And Research Communications Incorporated holds 0.05% of its portfolio in Evercore Partners Inc. (NYSE:EVR) for 5,000 shares. Brown Capital Mngmt Ltd Liability Com has 0.06% invested in the company for 87,284 shares.

Insider Transactions: Since August 10, 2016, the stock had 0 insider buys, and 6 selling transactions for $27.23 million net activity. Shares for $6.40M were sold by SIBBALD ANDREW on Tuesday, August 23. $3.34 million worth of shares were sold by SCHLOSSTEIN RALPH on Wednesday, August 10.

More recent Evercore Partners Inc. (NYSE:EVR) news were published by: Nasdaq.com which released: “Evercore Partners Inc (EVR) Ex-Dividend Date Scheduled for November 22, 2016” on November 21, 2016. Also Bloomberg.com published the news titled: “Evercore’s John Weinberg Set for $94 Million in Cash, Stock” on November 18, 2016. Bloomberg.com‘s news article titled: “Evercore Adds Ex-Goldman Banker John Weinberg as Chairman” with publication date: November 16, 2016 was also an interesting one.

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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