Colliers International Group (NASDAQ:CIGI) Upgraded at Cibc World Mkts

Cibc World Mkts upgraded shares of Colliers International Group (NASDAQ:CIGI) (TSE:CIGI) to a strong-buy rating in a research note issued to investors on Tuesday,Zacks.com reports.

CIGI has been the topic of a number of other reports. CIBC started coverage on shares of Colliers International Group in a research report on Tuesday. They set a “sector outperform” rating and a $160.00 price target on the stock. National Bank Financial raised Colliers International Group from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, November 5th. Royal Bank of Canada boosted their price objective on Colliers International Group from $170.00 to $175.00 and gave the stock an “outperform” rating in a research report on Friday, February 7th. Scotiabank decreased their target price on Colliers International Group from $170.00 to $166.00 and set a “sector outperform” rating for the company in a research report on Friday, February 7th. Finally, Raymond James cut their price target on shares of Colliers International Group from $175.00 to $170.00 and set an “outperform” rating on the stock in a report on Friday, February 7th. Four analysts have rated the stock with a hold rating, seven have given a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Colliers International Group has a consensus rating of “Moderate Buy” and an average target price of $167.67.

Colliers International Group Price Performance

CIGI stock opened at $124.48 on Tuesday. The company has a market capitalization of $6.30 billion, a P/E ratio of 39.02 and a beta of 1.49. Colliers International Group has a 52-week low of $101.01 and a 52-week high of $156.96. The business has a 50-day simple moving average of $134.60 and a two-hundred day simple moving average of $142.79. The company has a debt-to-equity ratio of 1.13, a quick ratio of 1.06 and a current ratio of 1.06.

Colliers International Group (NASDAQ:CIGI) (TSE:CIGI) last announced its quarterly earnings results on Thursday, February 6th. The financial services provider reported $1.87 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.40 by ($0.53). Colliers International Group had a return on equity of 20.38% and a net margin of 3.35%. Research analysts expect that Colliers International Group will post 6.2 EPS for the current fiscal year.

Hedge Funds Weigh In On Colliers International Group

Large investors have recently made changes to their positions in the stock. FIL Ltd boosted its stake in Colliers International Group by 116.5% in the 4th quarter. FIL Ltd now owns 1,547,527 shares of the financial services provider’s stock worth $210,449,000 after purchasing an additional 832,583 shares during the period. Norges Bank purchased a new stake in Colliers International Group in the 4th quarter worth approximately $74,615,000. Janus Henderson Group PLC bought a new position in Colliers International Group in the 3rd quarter valued at $69,920,000. Franklin Resources Inc. grew its position in shares of Colliers International Group by 100.8% during the 3rd quarter. Franklin Resources Inc. now owns 678,836 shares of the financial services provider’s stock valued at $102,261,000 after purchasing an additional 340,691 shares in the last quarter. Finally, Artisan Partners Limited Partnership increased its holdings in shares of Colliers International Group by 67.7% in the fourth quarter. Artisan Partners Limited Partnership now owns 436,397 shares of the financial services provider’s stock worth $59,320,000 after purchasing an additional 176,232 shares during the period. 80.09% of the stock is owned by institutional investors.

About Colliers International Group

Colliers International Group Inc provides commercial real estate professional and investment management services to corporate and institutional clients in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company offers outsourcing and advisory services, such as engineering and project management, property management, valuation, and other services, as well as loan servicing for commercial real estate clients.