Cushman & Wakefield (NYSE:CWK) Hits New 12-Month High - What's Next?

Key Points

• Cushman & Wakefield (NYSE:CWK) reached a new 52-week high at $16.91 during mid-day trading, signaling potential investor interest.
• Several analysts recently raised their price targets for CWK, with JPMorgan setting a target of $20.00 and UBS raising theirs to $12.00, indicating a generally positive outlook on the stock.
• The company reported a 7.2% year-over-year increase in revenue for the last quarter, along with earnings per share of $0.30, exceeding analyst estimates of $0.22.

Cushman & Wakefield PLC (NYSE:CWK - Get Free Report)'s stock price hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $16.89 and last traded at $16.91, with a volume of 55957 shares. The stock had previously closed at $16.60.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on CWK shares. JPMorgan Chase & Co. raised their price objective on Cushman & Wakefield from $13.00 to $20.00 and gave the stock a "neutral" rating in a research report on Tuesday, August 26th. UBS Group raised their price objective on Cushman & Wakefield from $9.00 to $12.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 2nd. JMP Securities lifted their target price on Cushman & Wakefield from $15.00 to $16.00 and gave the company a "market outperform" rating in a research report on Wednesday, August 6th. Wall Street Zen raised Cushman & Wakefield from a "buy" rating to a "strong-buy" rating in a research report on Saturday, August 9th. Finally, 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 report on Friday, August 8th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and four have given a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $15.13.

Cushman & Wakefield Stock Performance

The company has a market cap of $3.85 billion, a price-to-earnings ratio of 18.91 and a beta of 1.53. The firm has a 50-day simple moving average of $14.25 and a 200 day simple moving average of $11.55. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 1.48.

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

Insider Activity

In other news, Director Angela Sun sold 6,800 shares of the business's stock in a transaction that occurred on Friday, September 5th. The stock was 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 of the company's stock, valued at approximately $744,897.96. The trade was a 12.76% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.50% of the company's stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Principal Financial Group Inc. increased its holdings in shares of Cushman & Wakefield by 2.6% in the first quarter. Principal Financial Group Inc. now owns 1,307,884 shares of the company's stock valued at $13,367,000 after purchasing an additional 32,795 shares during the period. Allspring Global Investments Holdings LLC increased its holdings in shares of Cushman & Wakefield by 2.0% in the first quarter. Allspring Global Investments Holdings LLC now owns 584,353 shares of the company's stock valued at $5,972,000 after purchasing an additional 11,247 shares during the period. Crossmark Global Holdings Inc. acquired a new position in shares of Cushman & Wakefield in the first quarter valued at approximately $333,000. Nuveen LLC acquired a new position in shares of Cushman & Wakefield in the first quarter valued at approximately $11,086,000. Finally, SG Americas Securities LLC acquired a new position in shares of Cushman & Wakefield in the first quarter valued at approximately $450,000. Institutional investors and hedge funds own 95.56% of the company's stock.

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.