Colliers International Group (NASDAQ:CIGI) Sets New 1-Year High - Still a Buy?

Key Points

• Colliers International Group's stock reached a new 52-week high of $169.27 on Monday, closing at $167.40 with a volume of 152,597 shares traded.
• Analysts have significantly increased their price targets for the stock, with Royal Bank of Canada raising their target from $175.00 to $185.00 and multiple other firms issuing "outperform" ratings.
• In the latest earnings report, Colliers reported earnings per share of $1.72, surpassing expectations and achieving an 18.3% year-over-year revenue increase to $1.37 billion.

Colliers International Group Inc. (NASDAQ:CIGI - Get Free Report) TSE: CIGI's share price hit a new 52-week high on Monday . The stock traded as high as $169.27 and last traded at $167.40, with a volume of 152597 shares trading hands. The stock had previously closed at $162.76.

Analysts Set New Price Targets

Several brokerages recently weighed in on CIGI. Scotiabank boosted their price objective on Colliers International Group from $155.00 to $170.00 and gave the company a "sector outperform" rating in a report on Friday, August 1st. Raymond James Financial boosted their price objective on Colliers International Group from $170.00 to $180.00 and gave the company an "outperform" rating in a report on Friday, August 1st. Stifel Nicolaus boosted their price objective on Colliers International Group from $165.00 to $180.00 and gave the company a "buy" rating in a report on Friday, August 1st. Royal Bank Of Canada upped their target price on Colliers International Group from $175.00 to $185.00 and gave the company an "outperform" rating in a report on Friday, August 1st. Finally, CIBC upped their target price on Colliers International Group from $149.00 to $175.00 and gave the company an "outperformer" rating in a report on Friday, August 1st. Two investment analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $168.40.

Colliers International Group Trading Down 0.3%

The firm has a market capitalization of $8.26 billion, a P/E ratio of 76.25 and a beta of 1.44. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.17 and a current ratio of 1.17. The firm has a 50 day moving average price of $142.82 and a two-hundred day moving average price of $129.54.

Colliers International Group (NASDAQ:CIGI - Get Free Report) TSE: CIGI last released its quarterly earnings data on Thursday, July 31st. The financial services provider reported $1.72 earnings per share for the quarter, topping the consensus estimate of $1.52 by $0.20. The business had revenue of $1.37 billion during the quarter, compared to analyst estimates of $1.29 billion. Colliers International Group had a return on equity of 20.82% and a net margin of 2.17%.The company's revenue was up 18.3% compared to the same quarter last year. During the same period last year, the company posted $1.36 EPS. On average, equities research analysts expect that Colliers International Group Inc. will post 6.2 EPS for the current fiscal year.

Institutional Investors Weigh In On Colliers International Group

Several large investors have recently modified their holdings of the stock. Royal Bank of Canada boosted its stake in shares of Colliers International Group by 1.4% during the 1st quarter. Royal Bank of Canada now owns 3,815,470 shares of the financial services provider's stock worth $462,816,000 after acquiring an additional 52,414 shares in the last quarter. Durable Capital Partners LP lifted its holdings in shares of Colliers International Group by 22.0% in the second quarter. Durable Capital Partners LP now owns 3,625,501 shares of the financial services provider's stock valued at $473,273,000 after purchasing an additional 652,744 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of Colliers International Group by 2.1% in the first quarter. Vanguard Group Inc. now owns 1,905,172 shares of the financial services provider's stock valued at $230,558,000 after purchasing an additional 38,379 shares in the last quarter. T. Rowe Price Investment Management Inc. lifted its holdings in shares of Colliers International Group by 56.6% in the first quarter. T. Rowe Price Investment Management Inc. now owns 965,700 shares of the financial services provider's stock valued at $117,140,000 after purchasing an additional 349,046 shares in the last quarter. Finally, The Manufacturers Life Insurance Company lifted its holdings in shares of Colliers International Group by 21.3% in the second quarter. The Manufacturers Life Insurance Company now owns 903,500 shares of the financial services provider's stock valued at $117,619,000 after purchasing an additional 158,668 shares in the last quarter. 80.09% of the stock is owned by institutional investors.

Colliers International Group Company Profile

Colliers International Group Inc provides commercial real estate professional and investment management services to corporate and institutional clients in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company offers outsourcing and advisory services, such as engineering and project management, property management, valuation, and other services, as well as loan servicing for commercial real estate clients.

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