Colliers International Group (NASDAQ:CIGI) Price Target Cut to $180.00 by Analysts at Raymond James Financial

Key Points

• Raymond James cut its price target on Colliers (NASDAQ:CIGI) to $180 from $185, which the firm says implies a potential 72.27% upside from the stock's current price.
• Analyst consensus is a "Moderate Buy" with an average target of $165.38, after several recent target trims (e.g., RBC to $160, Scotia to $150, Stifel $175).
• The stock traded down about 5.4% to $104.49 midday, is well below analyst targets, has a market cap of $5.34B and a P/E of 51.96, and is roughly 80% owned by institutional investors.

Colliers International Group (NASDAQ:CIGI - Get Free Report) TSE: CIGI had its price objective reduced by Raymond James Financial from $185.00 to $180.00 in a note issued to investors on Wednesday,BayStreet.CA reports. Raymond James Financial's price objective would suggest a potential upside of 72.27% from the stock's current price.

Several other analysts also recently weighed in on CIGI. Royal Bank Of Canada reduced their target price on Colliers International Group from $180.00 to $160.00 and set an "outperform" rating on the stock in a research note on Monday, March 30th. Scotia decreased their target price on Colliers International Group from $155.00 to $150.00 and set a "sector outperform" rating for the company in a report on Wednesday, April 15th. Stifel Nicolaus set a $175.00 target price on Colliers International Group in a report on Friday, March 13th. Scotiabank decreased their target price on Colliers International Group from $185.00 to $155.00 and set an "outperform" rating for the company in a report on Tuesday, February 17th. Finally, Weiss Ratings restated a "hold (c)" rating on shares of Colliers International Group in a report on Wednesday, January 21st. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $165.38.

Colliers International Group Trading Down 5.4%

CIGI stock traded down $6.00 during midday trading on Wednesday, hitting $104.49. The company had a trading volume of 126,699 shares, compared to its average volume of 344,969. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 1.06. Colliers International Group has a 52 week low of $95.66 and a 52 week high of $171.51. The stock's 50 day moving average price is $110.83 and its 200 day moving average price is $133.35. The stock has a market cap of $5.34 billion, a price-to-earnings ratio of 51.96 and a beta of 1.45.

Institutional Investors Weigh In On Colliers International Group

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CIGI. Caitong International Asset Management Co. Ltd purchased a new stake in Colliers International Group in the third quarter worth $26,000. Arax Advisory Partners grew its stake in shares of Colliers International Group by 137.0% in the fourth quarter. Arax Advisory Partners now owns 218 shares of the financial services provider's stock worth $32,000 after acquiring an additional 126 shares during the period. Kestra Advisory Services LLC bought a new position in Colliers International Group during the fourth quarter valued at approximately $32,000. JPMorgan Chase & Co. purchased a new position in Colliers International Group in the second quarter worth about $39,000. Finally, EverSource Wealth Advisors LLC boosted its position in Colliers International Group by 26.3% in the second 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. 80.09% of the stock is owned by hedge funds and other institutional investors.

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.

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