Scotia Issues Pessimistic Forecast for Colliers International Group (NASDAQ:CIGI) Stock Price

Key Points

• Scotia lowered its price target on Colliers from $155 to $150 but kept a "sector outperform" rating, with the new target implying a roughly 31.58% upside from the prior close.
• Multiple analysts have trimmed targets recently (e.g., Raymond James, RBC, Scotiabank), yet the stock still holds a consensus rating of "Moderate Buy" and a consensus price target of $166.
• Colliers shares were trading around $114 (up 0.3%) with a market cap of $5.83 billion, a PE of 56.93, and about 80.09% institutional ownership.

Colliers International Group (NASDAQ:CIGI - Get Free Report) TSE: CIGI had its price objective cut by equities researchers at Scotia from $155.00 to $150.00 in a note issued to investors on Wednesday,BayStreet.CA reports. The firm presently has a "sector outperform" rating on the financial services provider's stock. Scotia's price target points to a potential upside of 31.58% from the stock's previous close.

A number of other equities research analysts have also weighed in on CIGI. Raymond James Financial dropped their price objective on shares of Colliers International Group from $200.00 to $185.00 and set a "strong-buy" rating on the stock in a report on Tuesday, February 17th. Royal Bank Of Canada dropped their price objective on shares of Colliers International Group from $180.00 to $160.00 and set an "outperform" rating on the stock in a report on Monday, March 30th. Stifel Nicolaus set a $175.00 price objective on shares of Colliers International Group in a report on Friday, March 13th. Zacks Research raised Colliers International Group from a "strong sell" rating to a "hold" rating in a report on Thursday, April 2nd. Finally, Scotiabank decreased their target price on Colliers International Group from $185.00 to $155.00 and set an "outperform" rating for the company in a report on Tuesday, February 17th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $166.00.

Colliers International Group Stock Up 0.3%

NASDAQ CIGI traded up $0.34 during trading on Wednesday, hitting $114.00. The company's stock had a trading volume of 56,599 shares, compared to its average volume of 371,070. The company has a debt-to-equity ratio of 1.06, a current ratio of 1.10 and a quick ratio of 1.10. The company has a market cap of $5.83 billion, a PE ratio of 56.93 and a beta of 1.45. The business's 50 day simple moving average is $113.81 and its 200-day simple moving average is $136.17. Colliers International Group has a fifty-two week low of $95.66 and a fifty-two week high of $171.51.

Institutional Investors Weigh In On Colliers International Group

Hedge funds have recently bought and sold shares of the stock. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Colliers International Group during the 3rd quarter worth about $26,000. Arax Advisory Partners boosted its stake in shares of Colliers International Group by 137.0% during the 4th quarter. Arax Advisory Partners now owns 218 shares of the financial services provider's stock worth $32,000 after acquiring an additional 126 shares in the last quarter. Kestra Advisory Services LLC purchased a new stake in shares of Colliers International Group during the 4th quarter worth about $32,000. JPMorgan Chase & Co. purchased a new stake in shares of Colliers International Group during the 2nd quarter worth about $39,000. Finally, EverSource Wealth Advisors LLC boosted its stake in shares of Colliers International Group by 26.3% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 303 shares of the financial services provider's stock worth $40,000 after acquiring an additional 63 shares in the last quarter. Hedge funds and other institutional investors own 80.09% of the company's stock.

Colliers International Group Company Profile

Colliers International Group Inc is a global commercial real estate services and investment management firm offering a full suite of solutions to occupiers, owners and investors. The company's real estate services encompass brokerage and agency leasing, capital markets advisory, property and facility management, valuation and advisory, project and development services, workplace and corporate real estate solutions, and market research. Through these offerings, Colliers supports clients across the entire real estate life cycle, from site selection to asset disposition.

The firm operates through two principal segments: real estate services and investment management.

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