CBRE Group (NYSE:CBRE) Hits New 52-Week High – Still a Buy?

CBRE Group, Inc. (NYSE:CBRE)’s stock price hit a new 52-week high during trading on Wednesday . The company traded as high as $136.79 and last traded at $135.15, with a volume of 104550 shares. The stock had previously closed at $134.72.

Analyst Ratings Changes

CBRE has been the subject of a number of recent research reports. Raymond James increased their price objective on CBRE Group from $122.00 to $124.00 and gave the company a “strong-buy” rating in a report on Thursday, July 25th. Keefe, Bruyette & Woods raised their price objective on CBRE Group from $125.00 to $138.00 and gave the stock a “market perform” rating in a research report on Tuesday, October 29th. Wolfe Research upgraded CBRE Group to a “strong-buy” rating in a report on Friday, August 16th. Evercore ISI raised their price target on shares of CBRE Group from $123.00 to $132.00 and gave the stock an “outperform” rating in a report on Friday, October 4th. Finally, Morgan Stanley initiated coverage on shares of CBRE Group in a research note on Thursday, July 25th. They issued an “equal weight” rating and a $105.00 price objective on the stock. Five equities research analysts have rated the stock with a hold rating, one has assigned a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $116.83.

CBRE Group Price Performance

The stock has a market capitalization of $41.65 billion, a P/E ratio of 42.46 and a beta of 1.39. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.13 and a current ratio of 1.13. The business has a fifty day simple moving average of $122.61 and a 200-day simple moving average of $104.75.

CBRE Group (NYSE:CBRE) last issued its earnings results on Thursday, October 24th. The financial services provider reported $1.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.06 by $0.14. The business had revenue of $9.04 billion for the quarter, compared to analyst estimates of $8.80 billion. CBRE Group had a net margin of 2.79% and a return on equity of 13.91%. CBRE Group’s revenue was up 14.8% on a year-over-year basis. During the same period in the prior year, the firm earned $0.72 earnings per share. Sell-side analysts expect that CBRE Group, Inc. will post 5.02 earnings per share for the current fiscal year.

Insider Transactions at CBRE Group

In related news, Director Christopher T. Jenny sold 10,847 shares of the business’s stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $112.00, for a total value of $1,214,864.00. Following the completion of the sale, the director now directly owns 51,244 shares of the company’s stock, valued at $5,739,328. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, COO Vikramaditya Kohli sold 1,074 shares of the business’s stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $108.89, for a total transaction of $116,947.86. Following the completion of the sale, the chief operating officer now directly owns 69,226 shares of the company’s stock, valued at $7,538,019.14. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Christopher T. Jenny sold 10,847 shares of the company’s stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $112.00, for a total transaction of $1,214,864.00. Following the completion of the sale, the director now owns 51,244 shares in the company, valued at $5,739,328. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 25,232 shares of company stock valued at $2,839,047 in the last 90 days. 0.54% of the stock is currently owned by corporate insiders.

Institutional Trading of CBRE Group

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. American National Bank & Trust purchased a new stake in shares of CBRE Group in the third quarter valued at about $28,000. Ashton Thomas Securities LLC bought a new stake in CBRE Group in the 3rd quarter worth about $32,000. Wolff Wiese Magana LLC increased its stake in CBRE Group by 2,830.0% in the 3rd quarter. Wolff Wiese Magana LLC now owns 293 shares of the financial services provider’s stock valued at $36,000 after buying an additional 283 shares during the last quarter. Crewe Advisors LLC bought a new position in shares of CBRE Group during the 1st quarter worth approximately $30,000. Finally, Asset Dedication LLC purchased a new position in shares of CBRE Group in the 3rd quarter worth approximately $40,000. 98.41% of the stock is owned by institutional investors.

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.