Evercore ISI Increases CBRE Group (NYSE:CBRE) Price Target to $132.00

CBRE Group (NYSE:CBRE) had its price objective raised by stock analysts at Evercore ISI from $123.00 to $132.00 in a research note issued to investors on Friday, Benzinga reports. The brokerage currently has an “outperform” rating on the financial services provider’s stock. Evercore ISI’s price target suggests a potential upside of 9.24% from the company’s current price.

Several other brokerages also recently commented on CBRE. UBS Group lowered their target price on CBRE Group from $100.00 to $95.00 and set a “neutral” rating for the company in a research note on Wednesday, July 3rd. Keefe, Bruyette & Woods upped their price objective on shares of CBRE Group from $110.00 to $120.00 and gave the stock a “market perform” rating in a research report on Thursday, August 1st. Wolfe Research upgraded shares of CBRE Group to a “strong-buy” rating in a research report on Friday, August 16th. Raymond James boosted their target price on shares of CBRE Group from $122.00 to $124.00 and gave the stock a “strong-buy” rating in a research note on Thursday, July 25th. Finally, Morgan Stanley assumed coverage on CBRE Group in a research note on Thursday, July 25th. They issued an “equal weight” rating and a $105.00 price target for the company. Five analysts have rated the stock with a hold rating, one has issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $113.83.

CBRE Group Stock Down 1.4 %

CBRE opened at $120.84 on Friday. The stock’s fifty day simple moving average is $115.65 and its 200 day simple moving average is $99.38. CBRE Group has a 1-year low of $64.63 and a 1-year high of $125.43. The stock has a market cap of $37.08 billion, a PE ratio of 37.64 and a beta of 1.40. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.36.

CBRE Group (NYSE:CBRE) last posted its earnings results on Thursday, July 25th. The financial services provider reported $0.81 earnings per share for the quarter, topping analysts’ consensus estimates of $0.69 by $0.12. The company had revenue of $8.39 billion during the quarter, compared to the consensus estimate of $8.31 billion. CBRE Group had a return on equity of 12.74% and a net margin of 2.79%. The company’s revenue was up 8.7% on a year-over-year basis. During the same quarter last year, the firm earned $0.82 earnings per share. As a group, research analysts expect that CBRE Group will post 4.81 earnings per share for the current year.

Insiders Place Their Bets

In other news, CFO Emma E. Giamartino sold 3,311 shares of the stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $108.89, for a total value of $360,534.79. Following the completion of the sale, the chief financial officer now owns 71,969 shares of the company’s stock, valued at approximately $7,836,704.41. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other CBRE Group news, COO Vikramaditya Kohli sold 1,074 shares of the company’s stock in a transaction on Monday, August 12th. The shares were sold at an average price of $108.89, for a total transaction of $116,947.86. Following the sale, the chief operating officer now owns 69,226 shares of the company’s stock, valued at approximately $7,538,019.14. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Emma E. Giamartino sold 3,311 shares of CBRE Group stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $108.89, for a total value of $360,534.79. Following the completion of the transaction, the chief financial officer now directly owns 71,969 shares of the company’s stock, valued at approximately $7,836,704.41. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 27,232 shares of company stock valued at $3,058,787. 0.54% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On CBRE Group

Institutional investors and hedge funds have recently made changes to their positions in the business. Harris Associates L P increased its stake in CBRE Group by 4.5% in the fourth quarter. Harris Associates L P now owns 16,005,141 shares of the financial services provider’s stock valued at $1,489,919,000 after purchasing an additional 683,225 shares in the last quarter. Principal Financial Group Inc. increased its position in CBRE Group by 3.0% in the 2nd quarter. Principal Financial Group Inc. now owns 7,146,749 shares of the financial services provider’s stock valued at $636,847,000 after buying an additional 210,004 shares in the last quarter. Allspring Global Investments Holdings LLC raised its stake in CBRE Group by 0.9% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 6,087,070 shares of the financial services provider’s stock worth $542,419,000 after buying an additional 53,142 shares during the period. Wellington Management Group LLP boosted its holdings in CBRE Group by 164.1% in the fourth quarter. Wellington Management Group LLP now owns 4,505,177 shares of the financial services provider’s stock worth $419,387,000 after acquiring an additional 2,799,097 shares in the last quarter. Finally, Earnest Partners LLC grew its stake in CBRE Group by 1.5% in the second quarter. Earnest Partners LLC now owns 3,636,908 shares of the financial services provider’s stock valued at $324,085,000 after acquiring an additional 54,510 shares during the period. Institutional investors own 98.41% of the company’s stock.

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.