Evercore ISI Raises CBRE Group (NYSE:CBRE) Price Target to $132.00

CBRE Group (NYSE:CBRE) had its price target hoisted by Evercore ISI from $123.00 to $132.00 in a report released on Friday morning, Benzinga reports. Evercore ISI currently has an outperform rating on the financial services provider’s stock.

CBRE has been the subject of several other reports. Wolfe Research raised CBRE Group to a strong-buy rating in a research report on Friday, August 16th. Raymond James upped their price objective on CBRE Group from $122.00 to $124.00 and gave the company a strong-buy rating in a research note on Thursday, July 25th. UBS Group reduced their target price on CBRE Group from $100.00 to $95.00 and set a neutral rating for the company in a research note on Wednesday, July 3rd. Keefe, Bruyette & Woods increased their price target on CBRE Group from $110.00 to $120.00 and gave the company a market perform rating in a research note on Thursday, August 1st. Finally, Morgan Stanley began coverage on shares of CBRE Group in a research report on Thursday, July 25th. They set an equal weight rating and a $105.00 price objective for the company. Five research analysts have rated the stock with a hold rating, one has issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of Moderate Buy and a consensus price target of $113.83.

CBRE Group Stock Performance

Shares of NYSE:CBRE opened at $119.22 on Friday. The business has a fifty day moving average of $115.65 and a 200-day moving average of $99.41. The firm has a market cap of $36.58 billion, a PE ratio of 37.14 and a beta of 1.40. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.12 and a current ratio of 1.12. CBRE Group has a twelve month low of $64.63 and a twelve month high of $125.43.

CBRE Group (NYSE:CBRE) last posted its quarterly earnings results on Thursday, July 25th. The financial services provider reported $0.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.69 by $0.12. CBRE Group had a return on equity of 12.74% and a net margin of 2.79%. The business had revenue of $8.39 billion for the quarter, compared to analysts’ expectations of $8.31 billion. During the same quarter last year, the business earned $0.82 earnings per share. The firm’s quarterly revenue was up 8.7% compared to the same quarter last year. On average, equities research analysts predict that CBRE Group will post 4.81 EPS for the current fiscal year.

Insider Activity

In related news, COO Vikramaditya Kohli sold 1,074 shares of the stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $108.89, for a total transaction of $116,947.86. Following the sale, the chief operating officer now owns 69,226 shares of the company’s stock, valued at $7,538,019.14. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, Director Christopher T. Jenny sold 10,847 shares of the stock in a transaction that occurred on Tuesday, August 20th. The shares were sold at an average price of $112.00, for a total transaction of $1,214,864.00. Following the sale, the director now owns 51,244 shares in the company, valued at approximately $5,739,328. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Vikramaditya Kohli sold 1,074 shares of the business’s stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $108.89, for a total transaction of $116,947.86. Following the transaction, the chief operating officer now owns 69,226 shares of the company’s stock, valued at approximately $7,538,019.14. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 27,232 shares of company stock worth $3,058,787. Corporate insiders own 0.54% of the company’s stock.

Hedge Funds Weigh In On CBRE Group

Hedge funds and other institutional investors have recently modified their holdings of the business. American National Bank & Trust bought a new position in CBRE Group in the third quarter valued at about $28,000. Crewe Advisors LLC bought a new stake in shares of CBRE Group during the 1st quarter valued at approximately $30,000. Benjamin F. Edwards & Company Inc. increased its position in 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 purchasing an additional 215 shares in the last quarter. EverSource Wealth Advisors LLC lifted its stake in CBRE Group by 44.8% in the 1st quarter. EverSource Wealth Advisors LLC now owns 533 shares of the financial services provider’s stock valued at $52,000 after purchasing an additional 165 shares during the last quarter. Finally, EdgeRock Capital LLC acquired a new stake in CBRE Group in the second quarter valued at approximately $75,000. Institutional investors own 98.41% of the company’s stock.

CBRE Group Company Profile

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.