Evercore ISI Cuts CBRE Group (NYSE:CBRE) Price Target to $141.00

CBRE Group (NYSE:CBRE) had its price target lowered by Evercore ISI from $147.00 to $141.00 in a research note released on Monday,Benzinga reports. The firm currently has an outperform rating on the financial services provider’s stock.

CBRE has been the topic of a number of other reports. Citigroup boosted their price objective on CBRE Group from $130.00 to $160.00 and gave the company a “buy” rating in a research note on Monday, November 25th. JPMorgan Chase & Co. raised shares of CBRE Group from a “neutral” rating to an “overweight” rating and increased their price target for the stock from $120.00 to $163.00 in a report on Monday, December 16th. The Goldman Sachs Group began coverage on shares of CBRE Group in a research report on Friday, December 6th. They issued a “buy” rating and a $176.00 price objective for the company. Keefe, Bruyette & Woods upped their target price on shares of CBRE Group from $125.00 to $138.00 and gave the stock a “market perform” rating in a report on Tuesday, October 29th. Finally, Jefferies Financial Group raised shares of CBRE Group from a “hold” rating to a “buy” rating and raised their price target for the company from $133.00 to $152.00 in a report on Thursday, January 2nd. Three investment analysts have rated the stock with a hold rating, six have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $145.44.

CBRE Group Trading Up 5.3 %

Shares of CBRE Group stock opened at $131.55 on Monday. The stock has a market capitalization of $40.26 billion, a P/E ratio of 42.30 and a beta of 1.39. CBRE Group has a 52-week low of $82.75 and a 52-week high of $142.00. 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 stock’s 50-day simple moving average is $133.32 and its 200 day simple moving average is $120.55.

CBRE Group (NYSE:CBRE) last announced its quarterly earnings results on Thursday, October 24th. The financial services provider reported $1.20 EPS for the quarter, beating analysts’ consensus estimates of $1.06 by $0.14. CBRE Group had a net margin of 2.79% and a return on equity of 13.91%. The company had revenue of $9.04 billion for the quarter, compared to analysts’ expectations of $8.80 billion. During the same period in the prior year, the company posted $0.72 EPS. CBRE Group’s revenue was up 14.8% compared to the same quarter last year. As a group, research analysts anticipate that CBRE Group will post 4.99 EPS for the current year.

Insider Activity

In other news, CFO Emma E. Giamartino sold 1,815 shares of the stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $131.34, for a total transaction of $238,382.10. Following the transaction, the chief financial officer now directly owns 70,154 shares in the company, valued at approximately $9,214,026.36. This represents a 2.52 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.54% of the company’s stock.

Institutional Trading of CBRE Group

Hedge funds and other institutional investors have recently bought and sold shares of the company. Canton Hathaway LLC bought a new stake in shares of CBRE Group in the 3rd quarter worth approximately $27,000. American National Bank & Trust purchased a new position in CBRE Group in the 3rd quarter worth $28,000. Benjamin F. Edwards & Company Inc. lifted its stake in CBRE Group by 190.3% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 328 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 215 shares during the last quarter. Ashton Thomas Securities LLC purchased a new stake in CBRE Group during the third quarter valued at about $32,000. Finally, Wolff Wiese Magana LLC grew its stake in shares of CBRE Group by 2,830.0% during the third 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. Hedge funds and other 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.