The Goldman Sachs Group Cuts Colliers International Group (NASDAQ:CIGI) Price Target to $145.00

Colliers International Group (NASDAQ:CIGI) (TSE:CIGI) had its price objective lowered by The Goldman Sachs Group from $165.00 to $145.00 in a research note released on Wednesday morning,Benzinga reports. The firm currently has a neutral rating on the financial services provider’s stock.

Several other research firms also recently weighed in on CIGI. JPMorgan Chase & Co. began coverage on Colliers International Group in a research report on Monday, December 16th. They set a “neutral” rating and a $167.00 target price on the stock. CIBC assumed coverage on shares of Colliers International Group in a report on Tuesday, March 4th. They issued a “sector outperform” rating and a $160.00 price target on the stock. Scotiabank dropped their price objective on Colliers International Group from $170.00 to $166.00 and set a “sector outperform” rating for the company in a report on Friday, February 7th. Royal Bank of Canada raised their price objective on Colliers International Group from $170.00 to $175.00 and gave the stock an “outperform” rating in a report on Friday, February 7th. Finally, Cibc World Mkts upgraded Colliers International Group to a “strong-buy” rating in a report on Tuesday, March 4th. Four investment analysts have rated the stock with a hold rating, seven have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $164.40.

Colliers International Group Price Performance

CIGI stock opened at $122.67 on Wednesday. The company has a debt-to-equity ratio of 1.13, a quick ratio of 1.06 and a current ratio of 1.06. The stock’s 50 day moving average price is $131.67 and its 200 day moving average price is $141.12. The firm has a market cap of $6.05 billion, a P/E ratio of 38.45 and a beta of 1.58. Colliers International Group has a 1 year low of $101.01 and a 1 year high of $156.96.

Colliers International Group (NASDAQ:CIGI) (TSE:CIGI) last released 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%. On average, sell-side analysts expect that Colliers International Group will post 6.2 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Colliers International Group

Hedge funds and other institutional investors have recently bought and sold shares of the business. Tower Research Capital LLC TRC grew its position in shares of Colliers International Group by 1,752.9% during the fourth quarter. Tower Research Capital LLC TRC now owns 315 shares of the financial services provider’s stock worth $43,000 after buying an additional 298 shares in the last quarter. Plato Investment Management Ltd grew its stake in Colliers International Group by 16.0% in the fourth quarter. Plato Investment Management Ltd now owns 856 shares of the financial services provider’s stock worth $117,000 after purchasing an additional 118 shares in the last quarter. Tobam increased its holdings in shares of Colliers International Group by 12.0% in the 4th quarter. Tobam now owns 913 shares of the financial services provider’s stock valued at $124,000 after acquiring an additional 98 shares during the last quarter. Venturi Wealth Management LLC acquired a new stake in shares of Colliers International Group during the 4th quarter valued at approximately $145,000. Finally, CIBC Private Wealth Group LLC lifted its stake in Colliers International Group by 44.9% during the fourth quarter. CIBC Private Wealth Group LLC now owns 1,220 shares of the financial services provider’s stock worth $164,000 after purchasing an additional 378 shares during the last quarter. 80.09% of the stock is currently owned by hedge funds and other 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.