National Bank Financial Issues Pessimistic Forecast for Colliers International Group (NASDAQ:CIGI) Stock Price

Colliers International Group (NASDAQ:CIGI) (TSE:CIGI) had its price objective lowered by stock analysts at National Bank Financial from $160.00 to $143.00 in a note issued to investors on Wednesday,BayStreet.CA reports. The firm currently has an “outperform” rating on the financial services provider’s stock. National Bank Financial’s price target indicates a potential upside of 29.84% from the stock’s previous close.

A number of other research firms have also recently issued reports on CIGI. Raymond James Financial dropped their price target on shares of Colliers International Group from $200.00 to $185.00 and set a “strong-buy” rating on the stock in a research note on Tuesday, February 17th. Stifel Nicolaus set a $175.00 price target on shares of Colliers International Group in a research note on Friday, March 13th. Scotiabank dropped their price target on shares of Colliers International Group from $185.00 to $155.00 and set an “outperform” rating on the stock in a research note on Tuesday, February 17th. Wall Street Zen cut shares of Colliers International Group from a “buy” rating to a “hold” rating in a research note on Saturday, February 14th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Colliers International Group in a research note on Wednesday, January 21st. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, Colliers International Group has an average rating of “Moderate Buy” and an average target price of $168.29.

Colliers International Group Stock Performance

Shares of NASDAQ:CIGI traded up $2.08 during trading on Wednesday, hitting $110.14. 134,271 shares of the stock traded hands, compared to its average volume of 384,342. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 1.06. The company has a market cap of $5.63 billion, a price-to-earnings ratio of 54.89 and a beta of 1.45. The company has a fifty day moving average price of $116.16 and a two-hundred day moving average price of $137.84. Colliers International Group has a 52-week low of $95.66 and a 52-week high of $171.51.

Institutional Investors Weigh In On Colliers International Group

Several institutional investors and hedge funds have recently added to or reduced their stakes in CIGI. Caitong International Asset Management Co. Ltd acquired a new stake in Colliers International Group during the 3rd quarter worth $26,000. Arax Advisory Partners boosted its stake in Colliers International Group by 137.0% during the 4th quarter. Arax Advisory Partners now owns 218 shares of the financial services provider’s stock worth $32,000 after purchasing an additional 126 shares during the last quarter. Kestra Advisory Services LLC acquired a new stake in Colliers International Group during the 4th quarter worth $32,000. JPMorgan Chase & Co. acquired a new stake in Colliers International Group during the 2nd quarter worth $39,000. Finally, EverSource Wealth Advisors LLC boosted its stake in Colliers International Group by 26.3% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 303 shares of the financial services provider’s stock worth $40,000 after purchasing an additional 63 shares during the last quarter. Institutional investors and hedge funds own 80.09% of the company’s stock.

Colliers International Group Company Profile

Colliers International Group Inc is a global commercial real estate services and investment management firm offering a full suite of solutions to occupiers, owners and investors. The company’s real estate services encompass brokerage and agency leasing, capital markets advisory, property and facility management, valuation and advisory, project and development services, workplace and corporate real estate solutions, and market research. Through these offerings, Colliers supports clients across the entire real estate life cycle, from site selection to asset disposition.

The firm operates through two principal segments: real estate services and investment management.