Colliers International Group (NASDAQ:CIGI) Sets New 12-Month High After Analyst Upgrade

Colliers International Group Inc. (NASDAQ:CIGI) (TSE:CIGI) hit a new 52-week high on Wednesday after National Bank Financial upgraded the stock from a hold rating to a strong-buy rating. The company traded as high as $156.96 and last traded at $143.66, with a volume of 20855 shares. The stock had previously closed at $149.02.

CIGI has been the topic of several other research reports. StockNews.com cut Colliers International Group from a “buy” rating to a “hold” rating in a research report on Tuesday, October 8th. Stifel Nicolaus boosted their price target on shares of Colliers International Group from $155.00 to $160.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. BMO Capital Markets boosted their target price on shares of Colliers International Group from $163.00 to $164.00 and gave the company an “outperform” rating in a research note on Friday, September 13th. Raymond James lowered shares of Colliers International Group from a “strong-buy” rating to an “outperform” rating and raised their price target for the stock from $150.00 to $160.00 in a research note on Friday, August 2nd. Finally, National Bankshares lifted their price target on shares of Colliers International Group from $125.00 to $137.00 and gave the stock a “sector perform” rating in a report on Friday, August 2nd. Two investment analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $160.42.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the business. Blue Trust Inc. lifted its position in shares of Colliers International Group by 3,377.8% during the second quarter. Blue Trust Inc. now owns 313 shares of the financial services provider’s stock worth $38,000 after acquiring an additional 304 shares in the last quarter. Whittier Trust Co. of Nevada Inc. raised its stake in shares of Colliers International Group by 93.0% during the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 469 shares of the financial services provider’s stock valued at $52,000 after purchasing an additional 226 shares during the period. Plato Investment Management Ltd purchased a new stake in Colliers International Group during the 3rd quarter worth about $112,000. Central Pacific Bank Trust Division bought a new position in Colliers International Group in the 1st quarter worth about $118,000. Finally, Bayesian Capital Management LP purchased a new position in Colliers International Group during the 1st quarter valued at about $205,000. 80.09% of the stock is owned by institutional investors.

Colliers International Group Stock Performance

The stock has a market capitalization of $7.43 billion, a P/E ratio of 51.44 and a beta of 1.50. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 1.13. The company has a 50-day moving average price of $148.38 and a two-hundred day moving average price of $129.97.

Colliers International Group (NASDAQ:CIGI) (TSE:CIGI) last posted its earnings results on Tuesday, November 5th. The financial services provider reported $1.32 earnings per share for the quarter, missing analysts’ consensus estimates of $1.49 by ($0.17). Colliers International Group had a return on equity of 23.60% and a net margin of 3.20%. The firm had revenue of $1.18 billion for the quarter, compared to the consensus estimate of $1.17 billion. During the same period last year, the company posted $1.10 EPS. The business’s revenue was up 11.7% on a year-over-year basis. Equities analysts expect that Colliers International Group Inc. will post 5.63 earnings per share for the current year.

Colliers International Group Company Profile

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.