Zacks Research Upgrades Cushman & Wakefield (NYSE:CWK) to Strong-Buy

Key Points

• Zacks Research upgraded Cushman & Wakefield from a "hold" rating to a "strong-buy" rating, indicating increased confidence in the company's stock performance.
• Several other analysts have also upgraded their ratings and price targets for Cushman & Wakefield, with JPMorgan Chase increasing its target to $20.00.
• Cushman & Wakefield reported earnings of $0.30 per share for the last quarter, exceeding the consensus estimate, and showed a revenue increase of 7.2% year-over-year.

Cushman & Wakefield (NYSE:CWK - Get Free Report) was upgraded by research analysts at Zacks Research from a "hold" rating to a "strong-buy" rating in a report issued on Monday,Zacks.com reports.

CWK has been the subject of a number of other reports. JPMorgan Chase & Co. boosted their price objective on shares of Cushman & Wakefield from $13.00 to $20.00 and gave the stock a "neutral" rating in a report on Tuesday, August 26th. JMP Securities boosted their price objective on shares of Cushman & Wakefield from $15.00 to $16.00 and gave the stock a "market outperform" rating in a report on Wednesday, August 6th. Weiss Ratings restated a "hold (c)" rating on shares of Cushman & Wakefield in a report on Saturday, September 27th. The Goldman Sachs Group upgraded shares of Cushman & Wakefield from a "sell" rating to a "buy" rating and set a $17.50 target price for the company in a research note on Friday, August 8th. Finally, UBS Group boosted their target price on shares of Cushman & Wakefield from $9.00 to $12.00 and gave the company a "neutral" rating in a research note on Wednesday, July 2nd. Two research analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating and five have issued a Hold rating to the company's stock. According to data from MarketBeat, Cushman & Wakefield presently has an average rating of "Moderate Buy" and an average price target of $15.13.

Cushman & Wakefield Price Performance

CWK stock opened at $15.18 on Monday. The firm has a 50 day moving average price of $15.28 and a 200-day moving average price of $11.97. Cushman & Wakefield has a 52-week low of $7.64 and a 52-week high of $17.04. The firm has a market capitalization of $3.51 billion, a price-to-earnings ratio of 17.24 and a beta of 1.51. The company has a debt-to-equity ratio of 1.48, a quick ratio of 1.13 and a current ratio of 1.13.

Cushman & Wakefield (NYSE:CWK - Get Free Report) last released its earnings results on Tuesday, August 5th. The company reported $0.30 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $1.65 billion during the quarter, compared to analyst estimates of $2.38 billion. During the same period last year, the business earned $0.20 earnings per share. The business's revenue was up 7.2% on a year-over-year basis. Equities research analysts forecast that Cushman & Wakefield will post 1.2 EPS 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 on Friday, September 5th. The shares were sold at an average price of $16.02, for a total transaction of $108,936.00. Following the completion of the sale, the director owned 46,498 shares of the company's stock, valued at $744,897.96. The trade was a 12.76% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.50% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Cushman & Wakefield

A number of hedge funds have recently modified their holdings of CWK. EverSource Wealth Advisors LLC grew its position in shares of Cushman & Wakefield by 126.7% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,364 shares of the company's stock valued at $26,000 after acquiring an additional 1,321 shares during the period. Osaic Holdings Inc. grew its position in shares of Cushman & Wakefield by 85.9% during the 2nd quarter. Osaic Holdings Inc. now owns 4,354 shares of the company's stock valued at $48,000 after acquiring an additional 2,012 shares during the period. CENTRAL TRUST Co bought a new stake in shares of Cushman & Wakefield during the 2nd quarter valued at $50,000. Nomura Asset Management Co. Ltd. grew its position in shares of Cushman & Wakefield by 48.7% during the 2nd quarter. Nomura Asset Management Co. Ltd. now owns 5,800 shares of the company's stock valued at $64,000 after acquiring an additional 1,900 shares during the period. Finally, GAMMA Investing LLC grew its position in shares of Cushman & Wakefield by 18.3% during the 3rd quarter. GAMMA Investing LLC now owns 5,612 shares of the company's stock valued at $89,000 after acquiring an additional 867 shares during the period. Institutional investors 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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