CBRE Group (NYSE:CBRE) Sets New 1-Year High After Analyst Upgrade

Key Points

• CBRE Group shares reached a new 52-week high of $165.41 after Evercore ISI raised their price target from $164.00 to $185.00, maintaining an "outperform" rating.
• Analyst ratings show a positive trend, with multiple firms increasing price targets and seven analysts rating the stock as a Buy.
• The company reported better-than-expected quarterly earnings of $1.19 per share, exceeding the consensus estimate of $1.05, along with a revenue of $9.75 billion for the same period.

Shares of CBRE Group, Inc. (NYSE:CBRE - Get Free Report) reached a new 52-week high during mid-day trading on Tuesday after JPMorgan Chase & Co. raised their price target on the stock from $143.00 to $185.00. JPMorgan Chase & Co. currently has an overweight rating on the stock. CBRE Group traded as high as $165.41 and last traded at $165.04, with a volume of 1258166 shares traded. The stock had previously closed at $164.41.

Several other brokerages have also recently weighed in on CBRE. Wall Street Zen raised shares of CBRE Group from a "hold" rating to a "buy" rating in a research report on Saturday, August 2nd. Morgan Stanley reissued an "overweight" rating and set a $170.00 target price (up previously from $160.00) on shares of CBRE Group in a research report on Thursday, June 12th. UBS Group lifted their target price on shares of CBRE Group from $130.00 to $146.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 2nd. Raymond James Financial lifted their target price on shares of CBRE Group from $163.00 to $166.00 and gave the stock an "outperform" rating in a research report on Thursday, July 24th. Finally, Evercore ISI lifted their target price on shares of CBRE Group from $164.00 to $185.00 and gave the stock an "outperform" rating in a research report on Monday. Seven investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, CBRE Group has an average rating of "Moderate Buy" and a consensus target price of $165.22.

Insider Activity at CBRE Group

In other news, CAO Lindsey S. Caplan sold 1,935 shares of CBRE Group stock in a transaction on Tuesday, June 24th. The shares were sold at an average price of $140.00, for a total transaction of $270,900.00. Following the completion of the sale, the chief accounting officer directly owned 20,131 shares of the company's stock, valued at approximately $2,818,340. The trade was a 8.77% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Emma E. Giamartino sold 2,000 shares of CBRE Group stock in a transaction on Wednesday, August 13th. The stock was sold at an average price of $157.60, for a total transaction of $315,200.00. Following the sale, the chief financial officer directly owned 103,371 shares of the company's stock, valued at $16,291,269.60. This represents a 1.90% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 8,926 shares of company stock worth $1,338,073. Corporate insiders own 0.42% of the company's stock.

Institutional Trading of CBRE Group

Several hedge funds have recently added to or reduced their stakes in the business. Orion Porfolio Solutions LLC lifted its stake in CBRE Group by 1.6% in the second quarter. Orion Porfolio Solutions LLC now owns 22,480 shares of the financial services provider's stock worth $3,150,000 after purchasing an additional 346 shares during the last quarter. MASTERINVEST Kapitalanlage GmbH bought a new stake in shares of CBRE Group in the second quarter worth $2,706,000. Neuberger Berman Group LLC grew its position in shares of CBRE Group by 23.9% during the second quarter. Neuberger Berman Group LLC now owns 31,974 shares of the financial services provider's stock worth $4,480,000 after purchasing an additional 6,175 shares in the last quarter. B. Riley Wealth Advisors Inc. bought a new position in CBRE Group during the second quarter valued at approximately $429,000. Finally, Pitcairn Co. boosted its stake in CBRE Group by 3.5% during the second quarter. Pitcairn Co. now owns 11,288 shares of the financial services provider's stock valued at $1,582,000 after buying an additional 377 shares during the last quarter. 98.41% of the stock is owned by institutional investors.

CBRE Group Price Performance

The firm has a market capitalization of $48.17 billion, a P/E ratio of 45.35 and a beta of 1.34. The firm has a 50 day moving average price of $148.94 and a 200-day moving average price of $135.53. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.51.

CBRE Group (NYSE:CBRE - Get Free Report) last released its quarterly earnings data on Tuesday, July 29th. The financial services provider reported $1.19 EPS for the quarter, topping the consensus estimate of $1.05 by $0.14. CBRE Group had a return on equity of 18.89% and a net margin of 2.86%.The company had revenue of $9.75 billion for the quarter, compared to the consensus estimate of $9.50 billion. CBRE Group has set its FY 2025 guidance at 6.100-6.200 EPS. On average, analysts expect that CBRE Group, Inc. will post 5.99 earnings per share for the current year.

About CBRE Group

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.