Cushman & Wakefield (NYSE:CWK) Sets New 12-Month High - Still a Buy?

Key Points

• Cushman & Wakefield shares reached a new 52-week high of $17.28, with significant trading volume of 114,961 shares on the day.
• Analysts have set varied price targets, with JPMorgan raising its target from $13.00 to $20.00 and Zacks upgrading the stock from "hold" to a "strong-buy" rating.
• Cushman & Wakefield reported a quarterly earnings of $0.30 per share, exceeding estimates, despite revenues being slightly below expectations at $1.65 billion.

Cushman & Wakefield PLC (NYSE:CWK - Get Free Report) shares reached a new 52-week high during trading on Friday . The company traded as high as $17.24 and last traded at $17.28, with a volume of 114961 shares trading hands. The stock had previously closed at $16.80.

Analysts Set New Price Targets

A number of research firms have issued reports on CWK. Weiss Ratings reiterated a "hold (c)" rating on shares of Cushman & Wakefield in a report on Wednesday, October 8th. JPMorgan Chase & Co. raised their target price on shares of Cushman & Wakefield from $13.00 to $20.00 and gave the company a "neutral" rating in a research note on Tuesday, August 26th. Zacks Research upgraded shares of Cushman & Wakefield from a "hold" rating to a "strong-buy" rating in a research report on Monday, October 6th. Citizens Jmp assumed coverage on shares of Cushman & Wakefield in a research report on Monday, July 21st. They set a "strong-buy" rating and a $15.00 price objective for the company. Finally, The Goldman Sachs Group upgraded shares of Cushman & Wakefield from a "sell" rating to a "buy" rating and set a $17.50 price target for the company in a research report on Friday, August 8th. Two analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating and five have assigned a Hold rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $15.75.

Cushman & Wakefield Trading Up 2.2%

The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 1.48. The stock has a market cap of $3.98 billion, a P/E ratio of 19.58 and a beta of 1.51. The business's 50 day simple moving average is $15.83 and its two-hundred day simple moving average is $12.42.

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

Insider Transactions at Cushman & Wakefield

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 value of $108,936.00. Following the transaction, the director owned 46,498 shares in the company, valued at $744,897.96. The trade was a 12.76% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.50% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Cushman & Wakefield

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Nisa Investment Advisors LLC grew its stake in shares of Cushman & Wakefield by 12.1% in the 3rd quarter. Nisa Investment Advisors LLC now owns 6,201 shares of the company's stock valued at $99,000 after buying an additional 667 shares during the period. Benjamin Edwards Inc. purchased a new stake in shares of Cushman & Wakefield in the third quarter worth approximately $294,000. SG Americas Securities LLC increased its stake in Cushman & Wakefield by 298.3% in the 3rd quarter. SG Americas Securities LLC now owns 67,980 shares of the company's stock valued at $1,082,000 after buying an additional 50,912 shares during the last quarter. Park Avenue Securities LLC purchased a new stake in Cushman & Wakefield in the 3rd quarter valued at about $264,000. Finally, Allspring Global Investments Holdings LLC increased its stake in Cushman & Wakefield by 68.5% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 508,086 shares of the company's stock valued at $8,114,000 after buying an additional 206,537 shares during the last quarter. Institutional investors and hedge funds own 95.56% of the company's stock.

Cushman & Wakefield Company Profile

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.

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