CBRE Group (NYSE:CBRE) Rating Increased to Outperform at Evercore ISI

Evercore ISI upgraded shares of CBRE Group (NYSE:CBRE) from an in-line rating to an outperform rating in a research note issued to investors on Friday morning, Marketbeat Ratings reports. Evercore ISI currently has $123.00 price objective on the financial services provider’s stock, up from their previous price objective of $100.00.

Other equities analysts also recently issued research reports about the company. Jefferies Financial Group initiated coverage on CBRE Group in a research report on Wednesday, April 10th. They set a hold rating and a $107.00 price objective on the stock. StockNews.com cut CBRE Group from a buy rating to a hold rating in a research note on Wednesday, May 1st. UBS Group cut 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 raised their target price on CBRE Group from $100.00 to $110.00 and gave the stock a market perform rating in a research note on Thursday, July 25th. Finally, Morgan Stanley initiated coverage on CBRE Group in a research note on Thursday, July 25th. They set an equal weight rating and a $105.00 target price for the company. Five equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of Moderate Buy and a consensus target price of $108.86.

CBRE Group Stock Performance

NYSE CBRE opened at $110.54 on Friday. CBRE Group has a 1-year low of $64.63 and a 1-year high of $112.24. The company has a market cap of $33.87 billion, a PE ratio of 34.44 and a beta of 1.40. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.12 and a quick ratio of 1.12. The stock’s 50 day simple moving average is $90.99 and its 200-day simple moving average is $90.25.

CBRE Group (NYSE:CBRE) last announced its quarterly earnings data on Thursday, July 25th. The financial services provider reported $0.81 EPS for the quarter, topping analysts’ consensus estimates of $0.69 by $0.12. CBRE Group had a return on equity of 12.74% and a net margin of 2.79%. The firm had revenue of $8.39 billion for the quarter, compared to the consensus estimate of $8.31 billion. During the same quarter last year, the business posted $0.82 earnings per share. The firm’s revenue was up 8.7% compared to the same quarter last year. As a group, equities research analysts anticipate that CBRE Group will post 4.83 EPS for the current fiscal year.

Insider Activity at CBRE Group

In related news, CAO Lindsey S. Caplan sold 2,000 shares of CBRE Group stock in a transaction on Friday, July 26th. The stock was sold at an average price of $109.87, for a total value of $219,740.00. Following the completion of the transaction, the chief accounting officer now directly owns 16,606 shares in the company, valued at $1,824,501.22. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.54% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of CBRE. Harris Associates L P lifted its holdings in CBRE Group by 4.5% during the 4th quarter. Harris Associates L P now owns 16,005,141 shares of the financial services provider’s stock worth $1,489,919,000 after buying an additional 683,225 shares during the last quarter. Principal Financial Group Inc. lifted its holdings in CBRE Group by 3.0% during the 2nd quarter. Principal Financial Group Inc. now owns 7,146,749 shares of the financial services provider’s stock worth $636,847,000 after buying an additional 210,004 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its holdings 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 last quarter. Cantillon Capital Management LLC lifted its holdings in CBRE Group by 13.1% during the 4th quarter. Cantillon Capital Management LLC now owns 5,215,510 shares of the financial services provider’s stock worth $485,512,000 after buying an additional 603,771 shares during the last quarter. Finally, Wellington Management Group LLP lifted its holdings in CBRE Group by 164.1% during the 4th quarter. Wellington Management Group LLP now owns 4,505,177 shares of the financial services provider’s stock worth $419,387,000 after buying an additional 2,799,097 shares during the last quarter. 98.41% of the stock is currently owned by hedge funds and other institutional investors.

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.