Scotiabank Raises Colliers International Group (NASDAQ:CIGI) Price Target to $150.00

Colliers International Group (NASDAQ:CIGI) (TSE:CIGI) had its price target raised by equities researchers at Scotiabank from $135.00 to $150.00 in a report issued on Tuesday, BayStreet.CA reports. The brokerage presently has an “outperform” rating on the financial services provider’s stock. Scotiabank’s price objective would indicate a potential upside of 13.34% from the company’s current price.

CIGI has been the subject of a number of other research reports. BMO Capital Markets increased their target price on Colliers International Group from $137.00 to $140.00 and gave the company an “outperform” rating in a report on Tuesday, June 4th. Raymond James upped their price target on shares of Colliers International Group from $145.00 to $150.00 and gave the stock a “strong-buy” rating in a research note on Wednesday, June 5th. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $145.00 target price on shares of Colliers International Group in a research report on Tuesday, June 4th. Two investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $142.50.

Colliers International Group Price Performance

NASDAQ CIGI traded up $0.68 on Tuesday, reaching $132.35. 45,890 shares of the stock traded hands, compared to its average volume of 111,827. The firm’s fifty day simple moving average is $114.04 and its 200 day simple moving average is $115.53. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 1.15. The company has a market cap of $6.48 billion, a price-to-earnings ratio of 64.25 and a beta of 1.50. Colliers International Group has a 12 month low of $83.38 and a 12 month high of $132.74.

Colliers International Group (NASDAQ:CIGI) (TSE:CIGI) last announced its quarterly earnings data on Thursday, May 2nd. The financial services provider reported $0.66 EPS for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.20). Colliers International Group had a net margin of 2.25% and a return on equity of 26.28%. The company had revenue of $1 billion for the quarter, compared to analyst estimates of $989.03 million. As a group, research analysts predict that Colliers International Group will post 5.52 EPS for the current fiscal year.

Institutional Trading of Colliers International Group

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Whittier Trust Co. of Nevada Inc. grew its position in Colliers International Group by 575.0% in the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 243 shares of the financial services provider’s stock worth $30,000 after purchasing an additional 207 shares during the last quarter. Blue Trust Inc. grew its holdings in Colliers International Group by 3,377.8% during the second quarter. Blue Trust Inc. now owns 313 shares of the financial services provider’s stock valued at $38,000 after purchasing an additional 304 shares during the period. PNC Financial Services Group Inc. grew its holdings in Colliers International Group by 252.8% during the fourth quarter. PNC Financial Services Group Inc. now owns 441 shares of the financial services provider’s stock valued at $56,000 after purchasing an additional 316 shares during the period. Tobam acquired a new position in Colliers International Group during the fourth quarter valued at approximately $58,000. Finally, Security National Bank acquired a new position in shares of Colliers International Group in the fourth quarter valued at approximately $70,000. 80.09% of the stock is currently owned by institutional investors and hedge funds.

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.