Colliers International Group (NASDAQ:CIGI) Sets New 1-Year High - Time to 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 company 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.

Wall Street Analyst Weigh In

CIGI has been the topic of a number of research reports. JMP Securities began coverage on shares of Colliers International Group in a research note on Monday, July 21st. They set a "market perform" rating on the stock. CIBC raised their price objective on Colliers International Group from $149.00 to $175.00 and gave the company an "outperformer" rating in a report on Friday, August 1st. National Bankshares upped their target price on Colliers International Group from $169.00 to $175.00 and gave the stock an "outperform" rating in a report on Friday, August 1st. Stifel Nicolaus increased their target price on Colliers International Group from $165.00 to $180.00 and gave the company a "buy" rating in a research report on Friday, August 1st. Finally, JPMorgan Chase & Co. boosted their price target on Colliers International Group from $137.00 to $181.00 and gave the stock a "neutral" rating in a report on Tuesday. Two investment analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat.com, Colliers International Group currently has an average rating of "Moderate Buy" and an average target price of $172.30.

Colliers International Group Stock Down 0.1%

The firm has a market cap of $8.18 billion, a price-to-earnings ratio of 75.16 and a beta of 1.44. The firm has a 50 day moving average of $146.64 and a 200 day moving average of $130.72. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 1.24.

Colliers International Group (NASDAQ:CIGI - Get Free Report) TSE: CIGI last released its earnings results on Thursday, July 31st. The financial services provider reported $1.72 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.52 by $0.20. Colliers International Group had a net margin of 2.17% and a return on equity of 20.82%. The company had revenue of $1.37 billion for the quarter, compared to the consensus estimate of $1.29 billion. During the same quarter in the previous year, the company earned $1.36 EPS. Colliers International Group's quarterly revenue was up 18.3% compared to the same quarter last year. As a group, sell-side analysts predict that Colliers International Group Inc. will post 6.2 earnings per share for the current year.

Institutional Investors Weigh In On Colliers International Group

Institutional investors have recently added to or reduced their stakes in the company. TCTC Holdings LLC lifted its holdings in Colliers International Group by 114.9% during the first quarter. TCTC Holdings LLC now owns 217 shares of the financial services provider's stock worth $26,000 after acquiring an additional 116 shares during the period. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Colliers International Group during the 1st quarter valued at $33,000. JPMorgan Chase & Co. bought a new stake in shares of Colliers International Group during the 2nd quarter worth $39,000. EverSource Wealth Advisors LLC boosted its holdings in shares of Colliers International Group by 26.3% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 303 shares of the financial services provider's stock worth $40,000 after buying an additional 63 shares during the last quarter. Finally, Tower Research Capital LLC TRC boosted its holdings in shares of Colliers International Group by 1,752.9% in the 4th quarter. Tower Research Capital LLC TRC now owns 315 shares of the financial services provider's stock worth $43,000 after buying an additional 298 shares during the last quarter. 80.09% of the stock is owned by institutional investors.

About Colliers International Group

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.