Morgan Stanley Forecasts Strong Price Appreciation for CBRE Group (NYSE:CBRE) Stock

CBRE Group (NYSE:CBRE) had its target price raised by Morgan Stanley from $160.00 to $165.00 in a report issued on Wednesday morning,Benzinga reports. Morgan Stanley currently has an overweight rating on the financial services provider’s stock.

A number of other equities research analysts also recently issued reports on CBRE. JPMorgan Chase & Co. raised shares of CBRE Group from a “neutral” rating to an “overweight” rating and boosted their price objective for the company from $120.00 to $163.00 in a research report on Monday, December 16th. The Goldman Sachs Group assumed coverage on shares of CBRE Group in a research note on Friday, December 6th. They set a “buy” rating and a $176.00 target price on the stock. Jefferies Financial Group upgraded CBRE Group from a “hold” rating to a “buy” rating and increased their price target for the stock from $133.00 to $152.00 in a research note on Thursday, January 2nd. Keefe, Bruyette & Woods upped their price objective on CBRE Group from $142.00 to $145.00 and gave the stock a “market perform” rating in a research note on Friday, February 14th. Finally, Citigroup lifted their target price on CBRE Group from $130.00 to $160.00 and gave the company a “buy” rating in a research note on Monday, November 25th. Three research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $149.89.

CBRE Group Price Performance

NYSE CBRE opened at $143.62 on Wednesday. The stock has a market capitalization of $43.95 billion, a price-to-earnings ratio of 45.74 and a beta of 1.39. CBRE Group has a 1-year low of $84.24 and a 1-year high of $147.75. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.07 and a quick ratio of 1.13. The business’s fifty day moving average price is $136.37 and its 200-day moving average price is $128.26.

CBRE Group (NYSE:CBRE) last posted its earnings results on Thursday, February 13th. The financial services provider reported $2.32 earnings per share for the quarter, beating analysts’ consensus estimates of $2.20 by $0.12. CBRE Group had a return on equity of 16.96% and a net margin of 2.71%. On average, equities analysts predict that CBRE Group will post 6 earnings per share for the current year.

Institutional Trading of CBRE Group

Hedge funds have recently modified their holdings of the company. SBI Securities Co. Ltd. bought a new stake in CBRE Group in the fourth quarter worth $25,000. Canton Hathaway LLC bought a new stake in shares of CBRE Group in the 3rd quarter worth about $27,000. Investment Management Corp VA ADV purchased a new stake in shares of CBRE Group during the 4th quarter valued at about $28,000. Denver PWM LLC bought a new position in shares of CBRE Group in the 4th quarter valued at about $29,000. Finally, Ashton Thomas Securities LLC purchased a new position in CBRE Group in the third quarter worth about $32,000. 98.41% of the stock is owned by hedge funds and other institutional investors.

About CBRE Group

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.