Evercore ISI Forecasts Strong Price Appreciation for CBRE Group (NYSE:CBRE) Stock

CBRE Group (NYSE:CBRE - Get Free Report) had its target price hoisted by equities researchers at Evercore ISI from $143.00 to $147.00 in a report issued on Tuesday,Benzinga reports. The firm currently has an "outperform" rating on the financial services provider's stock. Evercore ISI's price objective indicates a potential upside of 3.09% from the stock's previous close.

CBRE has been the topic of several other reports. Keefe, Bruyette & Woods upped their price objective on shares of CBRE Group from $129.00 to $131.00 and gave the company a "market perform" rating in a report on Wednesday, April 30th. JPMorgan Chase & Co. dropped their price objective on shares of CBRE Group from $163.00 to $141.00 and set an "overweight" rating on the stock in a report on Thursday, April 10th. Morgan Stanley reaffirmed an "overweight" rating and set a $170.00 price objective (up from $160.00) on shares of CBRE Group in a report on Thursday, June 12th. UBS Group upped their price target on CBRE Group from $130.00 to $146.00 and gave the company a "neutral" rating in a research report on Wednesday, July 2nd. Finally, Wall Street Zen cut CBRE Group from a "buy" rating to a "hold" rating in a research report on Saturday, June 14th. Three investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $152.78.

CBRE Group Price Performance

Shares of NYSE:CBRE opened at $142.59 on Tuesday. The company's 50-day moving average is $130.42 and its 200 day moving average is $131.27. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.00 and a current ratio of 1.00. The company has a market capitalization of $42.51 billion, a P/E ratio of 43.61 and a beta of 1.30. CBRE Group has a fifty-two week low of $87.25 and a fifty-two week high of $147.75.

CBRE Group (NYSE:CBRE - Get Free Report) last issued its quarterly earnings results on Thursday, April 24th. The financial services provider reported $0.86 earnings per share for the quarter, topping analysts' consensus estimates of $0.81 by $0.05. The company had revenue of $8.91 billion for the quarter, compared to the consensus estimate of $8.73 billion. CBRE Group had a net margin of 2.74% and a return on equity of 17.37%. The firm's quarterly revenue was up 12.3% on a year-over-year basis. During the same period in the previous year, the firm earned $0.78 EPS. On average, equities research analysts forecast that CBRE Group will post 5.99 earnings per share for the current year.

Insider Buying and Selling

In other CBRE Group news, insider Chad J. Doellinger sold 494 shares of the stock in a transaction that occurred on Friday, May 2nd. The shares were sold at an average price of $126.05, for a total transaction of $62,268.70. Following the transaction, the insider directly owned 27,945 shares in the company, valued at $3,522,467.25. This trade represents a 1.74% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Lindsey S. Caplan sold 1,935 shares of the stock in a transaction that occurred on Tuesday, June 24th. The shares were sold at an average price of $140.00, for a total transaction of $270,900.00. Following the transaction, the chief accounting officer owned 20,131 shares in the company, valued at $2,818,340. The trade was a 8.77% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 6,031 shares of company stock worth $814,080. Insiders own 0.42% of the company's stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. SBI Securities Co. Ltd. purchased a new stake in shares of CBRE Group during the fourth quarter valued at approximately $25,000. WPG Advisers LLC purchased a new stake in shares of CBRE Group during the first quarter valued at approximately $26,000. Investment Management Corp VA ADV purchased a new stake in shares of CBRE Group during the fourth quarter valued at approximately $28,000. Hughes Financial Services LLC purchased a new stake in shares of CBRE Group during the first quarter valued at approximately $28,000. Finally, Golden State Wealth Management LLC boosted its stake in shares of CBRE Group by 687.1% during the first quarter. Golden State Wealth Management LLC now owns 244 shares of the financial services provider's stock valued at $32,000 after purchasing an additional 213 shares during the period. 98.41% of the stock is currently owned by institutional investors.

About CBRE Group

CBRE Group, Inc operates as a commercial real estate services and investment company in the United States, the United Kingdom, and internationally. The Advisory Services segment offers strategic advice and execution to owners, investors, and occupiers of real estate in connection with leasing of offices, and industrial and retail space; clients fully integrated property sales services under the CBRE Capital Markets brand; clients commercial mortgage and structured financing services; originates and sells commercial mortgage loans; property management services, such as marketing, building engineering, accounting, and financial services on a contractual basis for owners of and investors in office, industrial, and retail properties; and valuation services that include market value appraisals, litigation support, discounted cash flow analyses, and feasibility studies, as well as consulting services, such as property condition reports, hotel advisory, and environmental consulting.

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