Colliers International Group (NASDAQ:CIGI) Rating Increased to Buy at StockNews.com

Colliers International Group (NASDAQ:CIGI) (TSE:CIGI) was upgraded by equities researchers at StockNews.com from a “hold” rating to a “buy” rating in a research report issued on Monday.

CIGI has been the topic of several other reports. Scotiabank lifted their target price on Colliers International Group from $150.00 to $155.00 and gave the stock a “sector outperform” rating in a report on Friday, August 2nd. Stifel Nicolaus lifted their price objective on shares of Colliers International Group from $155.00 to $160.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. Raymond James cut Colliers International Group from a “strong-buy” rating to an “outperform” rating and increased their target price for the stock from $150.00 to $160.00 in a report on Friday, August 2nd. Royal Bank of Canada reaffirmed an “outperform” rating and set a $160.00 target price on shares of Colliers International Group in a research report on Monday, September 9th. Finally, National Bankshares increased their price target on Colliers International Group from $125.00 to $137.00 and gave the company a “sector perform” rating in a research report on Friday, August 2nd. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $156.00.

Colliers International Group Stock Up 1.4 %

Shares of CIGI stock opened at $150.98 on Monday. Colliers International Group has a 52-week low of $83.38 and a 52-week high of $151.39. The firm’s 50-day moving average is $139.51 and its 200-day moving average is $122.71. The company has a debt-to-equity ratio of 1.13, a quick ratio of 1.03 and a current ratio of 1.03. The stock has a market cap of $7.38 billion, a price-to-earnings ratio of 73.65 and a beta of 1.49.

Colliers International Group (NASDAQ:CIGI) (TSE:CIGI) last released its earnings results on Thursday, August 1st. The financial services provider reported $1.36 EPS for the quarter, missing the consensus estimate of $1.37 by ($0.01). Colliers International Group had a net margin of 3.20% and a return on equity of 23.60%. The firm had revenue of $1.14 billion during the quarter, compared to the consensus estimate of $1.11 billion. During the same period in the prior year, the business earned $1.21 earnings per share. Colliers International Group’s quarterly revenue was up 5.7% compared to the same quarter last year. Sell-side analysts predict that Colliers International Group will post 5.51 EPS for the current year.

Institutional Investors Weigh In On Colliers International Group

Several institutional investors have recently bought and sold shares of CIGI. Whittier Trust Co. of Nevada Inc. raised its position in Colliers International Group by 575.0% during the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 243 shares of the financial services provider’s stock valued at $30,000 after purchasing an additional 207 shares during the last quarter. Blue Trust Inc. raised its position in shares of Colliers International Group by 3,377.8% in the 2nd quarter. Blue Trust Inc. now owns 313 shares of the financial services provider’s stock worth $38,000 after purchasing an additional 304 shares during the last quarter. PNC Financial Services Group Inc. raised its stake in shares of Colliers International Group by 252.8% in the fourth quarter. PNC Financial Services Group Inc. now owns 441 shares of the financial services provider’s stock worth $56,000 after purchasing an additional 316 shares during the last quarter. Security National Bank bought a new stake in shares of Colliers International Group in the fourth quarter worth approximately $70,000. Finally, Central Pacific Bank Trust Division purchased a new stake in Colliers International Group during the first quarter valued at $118,000. 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.