Cushman & Wakefield (NYSE:CWK) Reaches New 1-Year High - Time to Buy?

Key Points

• Cushman & Wakefield shares reached a new 52-week high of $16.65 during trading, reflecting a significant price surge as analysts upgrade their ratings and target prices for the stock.
• Goldman Sachs upgraded the stock from a "sell" to a "buy" rating with a target price of $17.50, while JMP Securities and JPMorgan Chase & Co. have also raised their target prices, contributing to a "Moderate Buy" consensus rating.
• The company reported $0.30 EPS for Q2, outperforming estimates, with year-over-year revenue growth of 7.2%, indicating a positive financial performance amidst growing investor interest.

Shares of Cushman & Wakefield PLC (NYSE:CWK - Get Free Report) hit a new 52-week high during trading on Thursday . The company traded as high as $16.65 and last traded at $16.58, with a volume of 790258 shares trading hands. The stock had previously closed at $15.98.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. Morgan Stanley set a $14.50 target price on Cushman & Wakefield and gave the stock an "overweight" rating in a research note on Thursday, June 12th. Citizens Jmp assumed coverage on Cushman & Wakefield in a research note on Monday, July 21st. They set a "strong-buy" rating and a $15.00 target price for the company. JMP Securities increased their target price on Cushman & Wakefield from $15.00 to $16.00 and gave the stock a "market outperform" rating in a research note on Wednesday, August 6th. The Goldman Sachs Group raised Cushman & Wakefield from a "sell" rating to a "buy" rating and set a $17.50 target price for the company in a research note on Friday, August 8th. Finally, Wall Street Zen raised Cushman & Wakefield from a "buy" rating to a "strong-buy" rating in a research note on Saturday, August 9th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, Cushman & Wakefield currently has an average rating of "Moderate Buy" and an average target price of $15.13.

Cushman & Wakefield Trading Down 0.4%

The company has a debt-to-equity ratio of 1.48, a quick ratio of 1.13 and a current ratio of 1.13. The business has a 50-day simple moving average of $13.95 and a two-hundred day simple moving average of $11.44. The stock has a market cap of $3.84 billion, a price-to-earnings ratio of 18.85 and a beta of 1.53.

Cushman & Wakefield (NYSE:CWK - Get Free Report) last released its quarterly earnings results on Tuesday, August 5th. The company reported $0.30 earnings per share for the quarter, topping analysts' consensus estimates of $0.22 by $0.08. Cushman & Wakefield had a return on equity of 14.33% and a net margin of 2.11%.The firm had revenue of $1.65 billion during the quarter, compared to the consensus estimate of $2.38 billion. During the same quarter in the prior year, the firm posted $0.20 EPS. The business's revenue was up 7.2% on a year-over-year basis. As a group, research analysts forecast that Cushman & Wakefield PLC will post 1.2 EPS for the current year.

Insiders Place Their Bets

In related news, Director Angela Sun sold 6,800 shares of the business's stock in a transaction on Friday, September 5th. The shares were sold at an average price of $16.02, for a total transaction of $108,936.00. Following the transaction, the director directly owned 46,498 shares in the company, valued at approximately $744,897.96. The trade was a 12.76% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.50% of the company's stock.

Hedge Funds Weigh In On Cushman & Wakefield

A number of institutional investors have recently added to or reduced their stakes in the company. Osaic Holdings Inc. increased its holdings in Cushman & Wakefield by 85.9% during the second quarter. Osaic Holdings Inc. now owns 4,354 shares of the company's stock worth $48,000 after buying an additional 2,012 shares during the last quarter. Squarepoint Ops LLC increased its holdings in Cushman & Wakefield by 18.2% during the second quarter. Squarepoint Ops LLC now owns 763,258 shares of the company's stock worth $8,449,000 after buying an additional 117,268 shares during the last quarter. Public Sector Pension Investment Board increased its holdings in Cushman & Wakefield by 7.4% during the second quarter. Public Sector Pension Investment Board now owns 912,188 shares of the company's stock worth $10,098,000 after buying an additional 62,717 shares during the last quarter. Headlands Technologies LLC acquired a new position in Cushman & Wakefield during the second quarter worth $98,000. Finally, Tower Research Capital LLC TRC increased its holdings in Cushman & Wakefield by 358.7% during the second quarter. Tower Research Capital LLC TRC now owns 22,717 shares of the company's stock worth $251,000 after buying an additional 17,764 shares during the last quarter. 95.56% of the stock is currently owned by institutional investors and hedge funds.

About Cushman & Wakefield

Cushman & Wakefield Plc engages in the provision of commercial real estate services. It operates through the following geographical segments: Americas, Europe, Middle East and Africa (EMEA), and Asia Pacific (APAC). The Americas segment consists of operations located in the United States, Canada and key markets in Latin America.