Colliers International Group (NASDAQ:CIGI) Reaches New 1-Year High – Time to Buy?

Colliers International Group Inc. (NASDAQ:CIGI) (TSE:CIGI) hit a new 52-week high during trading on Monday . The company traded as high as $156.12 and last traded at $156.12, with a volume of 853 shares traded. The stock had previously closed at $155.43.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on CIGI shares. 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. Stifel Nicolaus upped their price objective on shares of Colliers International Group from $155.00 to $160.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. Raymond James lowered shares of 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 research note on Friday, August 2nd. Royal Bank of Canada lifted their price target on Colliers International Group from $160.00 to $174.00 and gave the company an “outperform” rating in a research note on Monday, October 21st. Finally, National Bankshares increased their price target on Colliers International Group from $125.00 to $137.00 and gave the stock a “sector perform” rating in a research report on Friday, August 2nd. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $158.33.

Colliers International Group Stock Up 0.1 %

The firm has a market cap of $7.53 billion, a PE ratio of 75.08 and a beta of 1.49. The business’s 50 day moving average price is $146.96 and its 200 day moving average price is $127.86. The company has a debt-to-equity ratio of 1.13, a current ratio of 1.03 and a quick ratio of 1.03.

Colliers International Group (NASDAQ:CIGI) (TSE:CIGI) last announced its earnings results on Thursday, August 1st. The financial services provider reported $1.36 EPS for the quarter, missing analysts’ consensus estimates of $1.37 by ($0.01). The firm had revenue of $1.14 billion for the quarter, compared to analyst estimates of $1.11 billion. Colliers International Group had a net margin of 3.20% and a return on equity of 23.60%. Colliers International Group’s revenue was up 5.7% compared to the same quarter last year. During the same period in the previous year, the company earned $1.21 EPS. On average, equities research analysts expect that Colliers International Group Inc. will post 5.66 earnings per share for the current year.

Institutional Investors Weigh In On Colliers International Group

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. The Manufacturers Life Insurance Company lifted its stake in shares of Colliers International Group by 47.6% in the second quarter. The Manufacturers Life Insurance Company now owns 1,011,898 shares of the financial services provider’s stock worth $112,834,000 after buying an additional 326,453 shares in the last quarter. Clearbridge Investments LLC lifted its stake in Colliers International Group by 91.3% in the 2nd quarter. Clearbridge Investments LLC now owns 310,602 shares of the financial services provider’s stock worth $34,677,000 after purchasing an additional 148,265 shares in the last quarter. Intact Investment Management Inc. acquired a new position in shares of Colliers International Group during the 2nd quarter worth approximately $6,970,000. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in shares of Colliers International Group in the first quarter valued at approximately $7,092,000. Finally, Victory Capital Management Inc. grew its position in shares of Colliers International Group by 5.9% in the second quarter. Victory Capital Management Inc. now owns 743,150 shares of the financial services provider’s stock valued at $82,973,000 after purchasing an additional 41,225 shares in the last quarter. Institutional investors and hedge funds own 80.09% of the company’s stock.

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.