Raymond James Financial Upgrades Colliers International Group (NASDAQ:CIGI) to Strong-Buy

Colliers International Group (NASDAQ:CIGI) (TSE:CIGI) was upgraded by equities researchers at Raymond James Financial from an “outperform” rating to a “strong-buy” rating in a report issued on Wednesday, Marketbeat reports. The brokerage presently has a $200.00 target price on the financial services provider’s stock, up from their prior target price of $195.00. Raymond James Financial’s target price would suggest a potential upside of 49.10% from the stock’s previous close.

CIGI has been the topic of several other research reports. Stifel Nicolaus increased their price objective on Colliers International Group from $180.00 to $195.00 and gave the stock a “buy” rating in a research note on Thursday, October 23rd. Wall Street Zen raised Colliers International Group from a “hold” rating to a “buy” rating in a research report on Sunday, January 25th. Weiss Ratings restated a “hold (c)” rating on shares of Colliers International Group in a report on Wednesday, January 21st. CIBC increased their target price on shares of Colliers International Group from $175.00 to $179.00 and gave the stock an “outperform” rating in a report on Monday, October 20th. Finally, National Bankshares raised their target price on shares of Colliers International Group from $181.00 to $185.00 in a research report on Monday, December 15th. Two equities research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Colliers International Group currently has an average rating of “Moderate Buy” and a consensus price target of $178.70.

Colliers International Group Price Performance

Shares of CIGI stock opened at $134.14 on Wednesday. The company has a market capitalization of $6.68 billion, a P/E ratio of 58.58 and a beta of 1.40. The company’s 50-day simple moving average is $143.89 and its two-hundred day simple moving average is $151.86. Colliers International Group has a one year low of $100.86 and a one year high of $171.51. The company has a debt-to-equity ratio of 1.27, a current ratio of 1.14 and a quick ratio of 1.14.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Caitong International Asset Management Co. Ltd purchased a new position in Colliers International Group in the third quarter worth $26,000. JPMorgan Chase & Co. purchased a new position in Colliers International Group during the 2nd quarter worth $39,000. EverSource Wealth Advisors LLC grew its stake in 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 buying an additional 63 shares during the last quarter. Sagard Holdings Management Inc. acquired a new position in Colliers International Group during the 2nd quarter valued at about $73,000. Finally, Blue Trust Inc. raised its stake in Colliers International Group by 17.1% in the third quarter. Blue Trust Inc. now owns 507 shares of the financial services provider’s stock valued at $79,000 after buying an additional 74 shares during the last quarter. Institutional investors own 80.09% of the company’s stock.

About Colliers International Group

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.