The Goldman Sachs Group Lowers Cushman & Wakefield (NYSE:CWK) Price Target to $13.00

Cushman & Wakefield (NYSE:CWK) had its target price reduced by equities research analysts at The Goldman Sachs Group from $14.50 to $13.00 in a report released on Friday,Benzinga reports. The brokerage currently has a “sell” rating on the stock. The Goldman Sachs Group’s price target points to a potential upside of 11.35% from the company’s previous close.

Other equities analysts have also issued research reports about the company. JPMorgan Chase & Co. lifted their price objective on Cushman & Wakefield from $14.00 to $17.00 and gave the company a “neutral” rating in a research note on Monday, December 16th. Jefferies Financial Group lowered Cushman & Wakefield from a “buy” rating to a “hold” rating and reduced their price objective for the company from $18.00 to $14.00 in a research note on Thursday, January 2nd. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $15.00.

Cushman & Wakefield Stock Performance

Shares of CWK opened at $11.68 on Friday. The stock has a 50-day moving average of $13.12 and a two-hundred day moving average of $13.42. Cushman & Wakefield has a one year low of $9.24 and a one year high of $16.11. The company has a debt-to-equity ratio of 1.67, a quick ratio of 1.18 and a current ratio of 1.15. The stock has a market cap of $2.68 billion, a P/E ratio of 21.23 and a beta of 1.34.

Cushman & Wakefield (NYSE:CWK) last issued its quarterly earnings results on Thursday, February 20th. The company reported $0.48 EPS for the quarter, topping analysts’ consensus estimates of $0.45 by $0.03. Cushman & Wakefield had a return on equity of 12.62% and a net margin of 1.39%. The company had revenue of $2.63 billion during the quarter, compared to analysts’ expectations of $2.67 billion. As a group, research analysts predict that Cushman & Wakefield will post 1.2 EPS for the current year.

Hedge Funds Weigh In On Cushman & Wakefield

A number of institutional investors have recently modified their holdings of the stock. Vaughan Nelson Investment Management L.P. increased its stake in shares of Cushman & Wakefield by 83.3% in the 3rd quarter. Vaughan Nelson Investment Management L.P. now owns 11,380,120 shares of the company’s stock valued at $155,110,000 after purchasing an additional 5,171,340 shares in the last quarter. Channing Capital Management LLC purchased a new position in shares of Cushman & Wakefield in the 4th quarter valued at about $61,732,000. Norges Bank purchased a new position in shares of Cushman & Wakefield in the 4th quarter valued at about $38,720,000. Raymond James Financial Inc. purchased a new position in shares of Cushman & Wakefield in the 4th quarter valued at about $25,964,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of Cushman & Wakefield by 737.9% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,982,586 shares of the company’s stock valued at $27,023,000 after purchasing an additional 1,745,986 shares in the last quarter. Hedge funds and other institutional investors own 95.56% of the company’s stock.

About Cushman & Wakefield

Cushman & Wakefield Plc engages in the provision of commercial real estate services. It operates through the following geographical segments: Americas, Europe, Middle East and Africa (EMEA), and Asia Pacific (APAC). The Americas segment consists of operations located in the United States, Canada and key markets in Latin America.