Barclays Cuts Cushman & Wakefield (NYSE:CWK) Price Target to $15.00

Key Points

• Barclays cut its price target for Cushman & Wakefield from $19 to $15 and kept an "equal weight" rating, with the $15 target implying roughly a 24.6% upside from the current share price.
• Analyst sentiment is mixed but modestly positive: five firms rate CWK a Buy and five a Hold, the consensus is a "Moderate Buy" with an average price target of $18.06, and several brokers (Citigroup, Wolfe, Morgan Stanley) have higher $18–$19 targets.
• Recent results and stock context: CWK beat Q results (EPS $0.54 vs. $0.53 estimate) with revenue up 10.8% YoY; the stock traded at $12.04 (market cap ~$2.79B, P/E ~31.7) and institutional ownership is about 95.6%.

Cushman & Wakefield (NYSE:CWK - Get Free Report) had its price target cut by equities researchers at Barclays from $19.00 to $15.00 in a note issued to investors on Friday,Benzinga reports. The brokerage currently has an "equal weight" rating on the stock. Barclays's price objective points to a potential upside of 24.57% from the company's current price.

Several other brokerages also recently weighed in on CWK. Citigroup upgraded Cushman & Wakefield from a "neutral" rating to a "buy" rating and set a $18.00 price target on the stock in a report on Thursday, November 20th. Weiss Ratings restated a "hold (c)" rating on shares of Cushman & Wakefield in a research note on Wednesday, January 21st. Wolfe Research upgraded shares of Cushman & Wakefield from a "peer perform" rating to an "outperform" rating and set a $19.00 price target for the company in a research note on Monday, February 9th. Morgan Stanley reiterated an "overweight" rating and set a $19.00 price target on shares of Cushman & Wakefield in a report on Friday, January 16th. Finally, Wall Street Zen lowered shares of Cushman & Wakefield from a "strong-buy" rating to a "buy" rating in a report on Monday, February 23rd. Five equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $18.06.

Cushman & Wakefield Stock Up 1.3%

Cushman & Wakefield stock traded up $0.15 during mid-day trading on Friday, reaching $12.04. 869,596 shares of the company's stock were exchanged, compared to its average volume of 2,218,667. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 1.34. Cushman & Wakefield has a twelve month low of $7.64 and a twelve month high of $17.40. The company has a market cap of $2.79 billion, a P/E ratio of 31.74 and a beta of 1.49. The company has a fifty day moving average of $14.94 and a 200-day moving average of $15.60.

Cushman & Wakefield (NYSE:CWK - Get Free Report) last posted its quarterly earnings data on Thursday, February 19th. The company reported $0.54 earnings per share for the quarter, topping analysts' consensus estimates of $0.53 by $0.01. The business had revenue of $2.91 billion for the quarter, compared to analyst estimates of $2.83 billion. Cushman & Wakefield had a return on equity of 15.02% and a net margin of 0.86%.The company's revenue was up 10.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.48 earnings per share. Sell-side analysts expect that Cushman & Wakefield will post 1.2 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of CWK. Royal Bank of Canada grew its position in shares of Cushman & Wakefield by 39.6% during the first quarter. Royal Bank of Canada now owns 98,508 shares of the company's stock worth $1,007,000 after acquiring an additional 27,940 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Cushman & Wakefield by 4.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 136,261 shares of the company's stock worth $1,393,000 after purchasing an additional 5,929 shares during the period. United Services Automobile Association purchased a new position in Cushman & Wakefield during the 1st quarter worth $139,000. Jane Street Group LLC grew its position in Cushman & Wakefield by 1,821.3% during the 1st quarter. Jane Street Group LLC now owns 279,397 shares of the company's stock worth $2,855,000 after purchasing an additional 264,855 shares during the last quarter. Finally, Focus Partners Wealth acquired a new position in Cushman & Wakefield in the first quarter valued at $218,000. Institutional investors and hedge funds own 95.56% of the company's stock.

About Cushman & Wakefield

Cushman & Wakefield is a leading global commercial real estate services firm headquartered in Chicago. The company provides a wide range of services to occupiers and investors, specializing in transaction management, property management, facilities management and project management. Its clientele spans corporate occupiers, landlords, investors and government entities seeking solutions to optimize their real estate portfolios and operations.

The firm's core offerings include leasing advisory for office, industrial, retail and multifamily properties, as well as capital markets advice on acquisitions, dispositions and debt and equity placements.

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