Morgan Stanley Upgrades CBRE Group (NYSE:CBRE) to “Overweight”

CBRE Group (NYSE:CBRE) was upgraded by Morgan Stanley from an “equal weight” rating to an “overweight” rating in a research note issued on Wednesday, MarketBeat Ratings reports. The firm currently has a $160.00 target price on the financial services provider’s stock, up from their prior target price of $115.00. Morgan Stanley’s price target indicates a potential upside of 18.66% from the company’s current price.

Several other analysts have also recently issued reports on the company. Keefe, Bruyette & Woods upped their target price on CBRE Group from $125.00 to $138.00 and gave the company a “market perform” rating in a report on Tuesday, October 29th. JPMorgan Chase & Co. upgraded shares of CBRE Group from a “neutral” rating to an “overweight” rating and lifted their target price for the company from $120.00 to $163.00 in a report on Monday, December 16th. The Goldman Sachs Group started coverage on CBRE Group in a research report on Friday, December 6th. They issued a “buy” rating and a $176.00 target price for the company. Evercore ISI cut their price objective on CBRE Group from $147.00 to $141.00 and set an “outperform” rating on the stock in a research report on Monday. Finally, Jefferies Financial Group raised CBRE Group from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $133.00 to $152.00 in a research report on Thursday, January 2nd. Three research analysts have rated the stock with a hold rating, six have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $145.44.

CBRE Group Stock Up 2.7 %

CBRE stock opened at $134.84 on Wednesday. The firm’s fifty day simple moving average is $133.36 and its 200-day simple moving average is $120.63. The company has a market capitalization of $41.26 billion, a P/E ratio of 43.36 and a beta of 1.39. CBRE Group has a 12 month low of $82.75 and a 12 month high of $142.00. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.13 and a quick ratio of 1.13.

CBRE Group (NYSE:CBRE) last posted its quarterly earnings data on Thursday, October 24th. The financial services provider reported $1.20 EPS for the quarter, beating analysts’ consensus estimates of $1.06 by $0.14. CBRE Group had a return on equity of 13.91% and a net margin of 2.79%. The business had revenue of $9.04 billion during the quarter, compared to analysts’ expectations of $8.80 billion. During the same period in the previous year, the business earned $0.72 earnings per share. The business’s revenue was up 14.8% compared to the same quarter last year. As a group, equities research analysts forecast that CBRE Group will post 4.99 earnings per share for the current year.

Insider Transactions at CBRE Group

In other CBRE Group news, CFO Emma E. Giamartino sold 1,815 shares of the firm’s stock in a transaction on Friday, November 15th. The stock was sold at an average price of $131.34, for a total transaction of $238,382.10. Following the completion of the transaction, the chief financial officer now owns 70,154 shares of the company’s stock, valued at approximately $9,214,026.36. This trade represents a 2.52 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 0.54% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CBRE. Canton Hathaway LLC acquired a new position in CBRE Group in the third quarter valued at $27,000. American National Bank & Trust acquired a new position in shares of CBRE Group during the 3rd quarter valued at about $28,000. Benjamin F. Edwards & Company Inc. lifted its holdings in shares of CBRE Group by 190.3% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 328 shares of the financial services provider’s stock worth $29,000 after acquiring an additional 215 shares during the period. Ashton Thomas Securities LLC acquired a new stake in shares of CBRE Group in the third quarter worth approximately $32,000. Finally, Wolff Wiese Magana LLC grew its holdings in CBRE Group by 2,830.0% in the third quarter. Wolff Wiese Magana LLC now owns 293 shares of the financial services provider’s stock valued at $36,000 after purchasing an additional 283 shares during the period. 98.41% of the stock is currently owned by hedge funds and other institutional investors.

About CBRE Group

CBRE Group, Inc operates as a commercial real estate services and investment company in the United States, the United Kingdom, and internationally. The Advisory Services segment offers strategic advice and execution to owners, investors, and occupiers of real estate in connection with leasing of offices, and industrial and retail space; clients fully integrated property sales services under the CBRE Capital Markets brand; clients commercial mortgage and structured financing services; originates and sells commercial mortgage loans; property management services, such as marketing, building engineering, accounting, and financial services on a contractual basis for owners of and investors in office, industrial, and retail properties; and valuation services that include market value appraisals, litigation support, discounted cash flow analyses, and feasibility studies, as well as consulting services, such as property condition reports, hotel advisory, and environmental consulting.