Cushman & Wakefield (NYSE:CWK) Upgraded by The Goldman Sachs Group to Buy Rating

Key Points

• Cushman & Wakefield has been upgraded by Goldman Sachs from a "sell" to a "buy" rating, with a target price of $17.50, indicating a potential upside of 30.77% from the current share price.
• In addition to Goldman Sachs, other analysts have raised their price targets, with JMP Securities setting it at $16.00 and UBS Group raising it to $12.00.
• Cushman & Wakefield reported earnings of $0.30 per share for the last quarter, exceeding expectations, although their revenue fell short of analyst estimates at $1.65 billion.

Cushman & Wakefield (NYSE:CWK - Get Free Report) was upgraded by equities researchers at The Goldman Sachs Group from a "sell" rating to a "buy" rating in a report released on Friday, Marketbeat reports. The brokerage presently has a $17.50 price objective on the stock. The Goldman Sachs Group's price target indicates a potential upside of 24.33% from the stock's previous close.

Several other equities analysts also recently commented on CWK. JPMorgan Chase & Co. decreased their target price on Cushman & Wakefield from $17.00 to $14.00 and set a "neutral" rating on the stock in a research report on Thursday, April 10th. JMP Securities upped 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 downgraded Cushman & Wakefield from a "strong-buy" rating to a "buy" rating in a research report on Sunday, July 20th. Citizens Jmp initiated coverage on Cushman & Wakefield in a research report on Monday, July 21st. They set a "strong-buy" rating and a $15.00 price target on the stock. Finally, Morgan Stanley set a $14.50 price target on Cushman & Wakefield and gave the stock an "overweight" rating in a research report on Thursday, June 12th. Four investment analysts have rated the stock with a hold rating, three have given a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat.com, Cushman & Wakefield presently has a consensus rating of "Moderate Buy" and a consensus price target of $14.38.

Cushman & Wakefield Stock Performance

NYSE:CWK traded up $0.58 on Friday, hitting $14.08. The company's stock had a trading volume of 956,773 shares, compared to its average volume of 2,076,322. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 1.48. The stock has a fifty day moving average of $11.44 and a two-hundred day moving average of $10.94. The firm has a market capitalization of $3.26 billion, a P/E ratio of 15.99 and a beta of 1.50. Cushman & Wakefield has a one year low of $7.64 and a one year high of $16.11.

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

Institutional Investors Weigh In On Cushman & Wakefield

A number of large investors have recently modified their holdings of the business. Principal Financial Group Inc. raised its holdings in Cushman & Wakefield by 2.6% in the 1st quarter. Principal Financial Group Inc. now owns 1,307,884 shares of the company's stock valued at $13,367,000 after buying an additional 32,795 shares during the last quarter. Allspring Global Investments Holdings LLC raised its holdings in Cushman & Wakefield by 2.0% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 584,353 shares of the company's stock valued at $5,972,000 after buying an additional 11,247 shares during the last quarter. Crossmark Global Holdings Inc. bought a new position in Cushman & Wakefield in the 1st quarter valued at approximately $333,000. Deutsche Bank AG raised its holdings in Cushman & Wakefield by 58.0% in the 4th quarter. Deutsche Bank AG now owns 206,164 shares of the company's stock valued at $2,697,000 after buying an additional 75,693 shares during the last quarter. Finally, SG Americas Securities LLC bought a new position in Cushman & Wakefield during the 1st quarter worth $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.