Colliers International Group (NASDAQ:CIGI) Upgraded to “Buy” by StockNews.com

StockNews.com upgraded shares of Colliers International Group (NASDAQ:CIGI) (TSE:CIGI) from a hold rating to a buy rating in a report issued on Monday morning.

A number of other research analysts also recently issued reports on the stock. Scotiabank boosted their price target on shares of Colliers International Group from $150.00 to $155.00 and gave the stock a sector outperform rating in a research report on Friday, August 2nd. Stifel Nicolaus boosted their target price on shares of Colliers International Group from $155.00 to $160.00 and gave the company a buy rating in a report on Friday, August 2nd. Raymond James downgraded Colliers International Group from a strong-buy rating to an outperform rating and increased their price target for the stock from $150.00 to $160.00 in a report on Friday, August 2nd. National Bankshares boosted their price objective on Colliers International Group from $125.00 to $137.00 and gave the company a sector perform rating in a research note on Friday, August 2nd. Finally, Royal Bank of Canada reaffirmed an outperform rating and set a $160.00 target price on shares of Colliers International Group in a research note on Monday, September 9th. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of Moderate Buy and a consensus target price of $156.00.

Colliers International Group Stock Performance

Shares of Colliers International Group stock opened at $151.30 on Monday. The stock has a market cap of $7.40 billion, a price-to-earnings ratio of 73.80 and a beta of 1.49. Colliers International Group has a twelve month low of $83.38 and a twelve month high of $152.84. The company’s fifty day moving average is $140.32 and its 200 day moving average is $123.10. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 1.13.

Colliers International Group (NASDAQ:CIGI) (TSE:CIGI) last issued its quarterly earnings results on Thursday, August 1st. The financial services provider reported $1.36 earnings per share for the quarter, missing the consensus estimate of $1.37 by ($0.01). The company had revenue of $1.14 billion during 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%. The company’s quarterly revenue was up 5.7% on a year-over-year basis. During the same period in the previous year, the company posted $1.21 EPS. Sell-side analysts forecast that Colliers International Group will post 5.66 EPS for the current year.

Hedge Funds Weigh In On Colliers International Group

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Norges Bank bought a new stake in Colliers International Group in the 4th quarter valued at about $47,753,000. The Manufacturers Life Insurance Company increased its holdings in shares of Colliers International Group by 47.6% during the second quarter. The Manufacturers Life Insurance Company now owns 1,011,898 shares of the financial services provider’s stock valued at $112,834,000 after acquiring an additional 326,453 shares in the last quarter. The Manufacturers Life Insurance Company increased its holdings in shares of Colliers International Group by 48.8% during the fourth quarter. The Manufacturers Life Insurance Company now owns 697,809 shares of the financial services provider’s stock valued at $88,405,000 after acquiring an additional 228,824 shares in the last quarter. Clearbridge Investments LLC raised its position in shares of Colliers International Group by 91.3% during the second 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 during the period. Finally, Wellington Management Group LLP lifted its holdings in shares of Colliers International Group by 13.7% in the 4th quarter. Wellington Management Group LLP now owns 561,869 shares of the financial services provider’s stock worth $71,212,000 after purchasing an additional 67,857 shares in the last quarter. Institutional investors 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.