Colliers International Group (NASDAQ:CIGI) Reaches New 1-Year High on Analyst Upgrade

Colliers International Group Inc. (NASDAQ:CIGI) (TSE:CIGI) hit a new 52-week high on Wednesday after Scotiabank raised their price target on the stock from $155.00 to $167.50. Scotiabank currently has a sector outperform rating on the stock. Colliers International Group traded as high as $156.96 and last traded at $143.66, with a volume of 20855 shares. The stock had previously closed at $149.02.

CIGI has been the subject of a number of other research reports. National Bankshares boosted their target price on Colliers International Group from $125.00 to $137.00 and gave the stock a “sector perform” rating in a research report on Friday, August 2nd. BMO Capital Markets increased their target price on shares of Colliers International Group from $163.00 to $164.00 and gave the company an “outperform” rating in a report on Friday, September 13th. Royal Bank of Canada boosted their price target on shares of Colliers International Group from $160.00 to $174.00 and gave the stock an “outperform” rating in a research note on Monday, October 21st. Stifel Nicolaus raised their price objective on Colliers International Group from $155.00 to $160.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. Finally, StockNews.com lowered Colliers International Group from a “buy” rating to a “hold” rating in a research note on Tuesday, October 8th. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $160.42.

Institutional Investors Weigh In On Colliers International Group

A number of large investors have recently made changes to their positions in the business. Whittier Trust Co. of Nevada Inc. lifted its stake in Colliers International Group by 575.0% in the first quarter. Whittier Trust Co. of Nevada Inc. now owns 243 shares of the financial services provider’s stock worth $30,000 after acquiring an additional 207 shares during the period. Blue Trust Inc. lifted its position in shares of Colliers International Group by 3,377.8% in the 2nd quarter. Blue Trust Inc. now owns 313 shares of the financial services provider’s stock worth $38,000 after purchasing an additional 304 shares during the period. Plato Investment Management Ltd bought a new stake in shares of Colliers International Group during the 3rd quarter valued at about $112,000. Central Pacific Bank Trust Division purchased a new position in shares of Colliers International Group during the first quarter valued at about $118,000. Finally, Bayesian Capital Management LP bought a new position in Colliers International Group in the first quarter worth about $205,000. 80.09% of the stock is currently owned by institutional investors.

Colliers International Group Trading Down 1.1 %

The stock’s 50 day moving average is $148.21 and its 200-day moving average is $129.82. The company has a debt-to-equity ratio of 1.13, a current ratio of 1.03 and a quick ratio of 1.03. The company has a market capitalization of $7.24 billion, a P/E ratio of 50.11 and a beta of 1.50.

Colliers International Group (NASDAQ:CIGI) (TSE:CIGI) last announced its earnings results on Tuesday, November 5th. The financial services provider reported $1.32 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.49 by ($0.17). Colliers International Group had a return on equity of 23.60% and a net margin of 3.20%. The firm had revenue of $1.18 billion during the quarter, compared to the consensus estimate of $1.17 billion. During the same period in the prior year, the company posted $1.10 EPS. The firm’s revenue was up 11.7% on a year-over-year basis. As a group, equities research analysts anticipate that Colliers International Group Inc. will post 5.63 earnings per share for the current year.

Colliers International Group Company Profile

Colliers International Group Inc provides commercial real estate professional and investment management services to corporate and institutional clients in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company offers outsourcing and advisory services, such as engineering and project management, property management, valuation, and other services, as well as loan servicing for commercial real estate clients.