CBRE Group (NYSE:CBRE) Rating Increased to Outperform at Evercore ISI

Evercore ISI upgraded shares of CBRE Group (NYSE:CBRE) from an in-line rating to an outperform rating in a research report sent to investors on Friday morning, MarketBeat Ratings reports. Evercore ISI currently has $123.00 price objective on the financial services provider’s stock, up from their prior price objective of $100.00.

CBRE has been the subject of a number of other research reports. Raymond James raised their price target on shares of CBRE Group from $122.00 to $124.00 and gave the stock a strong-buy rating in a report on Thursday, July 25th. Jefferies Financial Group began coverage on shares of CBRE Group in a report on Wednesday, April 10th. They set a hold rating and a $107.00 target price for the company. UBS Group reduced their target price on shares of CBRE Group from $100.00 to $95.00 and set a neutral rating for the company in a report on Wednesday, July 3rd. Morgan Stanley began coverage on shares of CBRE Group in a report on Thursday, July 25th. They set an equal weight rating and a $105.00 target price for the company. Finally, StockNews.com cut shares of CBRE Group from a buy rating to a hold rating in a report on Wednesday, May 1st. Five equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, CBRE Group currently has an average rating of Moderate Buy and a consensus price target of $108.86.

CBRE Group Price Performance

NYSE CBRE opened at $110.54 on Friday. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.12 and a current ratio of 1.12. The firm’s 50 day moving average price is $90.99 and its 200-day moving average price is $90.25. CBRE Group has a 52-week low of $64.63 and a 52-week high of $112.24. The company has a market cap of $33.87 billion, a PE ratio of 34.44 and a beta of 1.40.

CBRE Group (NYSE:CBRE) last announced its earnings results on Thursday, July 25th. The financial services provider reported $0.81 earnings per share for the quarter, beating the consensus estimate of $0.69 by $0.12. The company had revenue of $8.39 billion during the quarter, compared to the consensus estimate of $8.31 billion. CBRE Group had a net margin of 2.79% and a return on equity of 12.74%. CBRE Group’s revenue was up 8.7% compared to the same quarter last year. During the same period last year, the firm earned $0.82 earnings per share. Sell-side analysts forecast that CBRE Group will post 4.83 EPS for the current fiscal year.

Insider Activity

In other news, CAO Lindsey S. Caplan sold 2,000 shares of CBRE Group stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $109.87, for a total value of $219,740.00. Following the sale, the chief accounting officer now owns 16,606 shares in the company, valued at $1,824,501.22. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 0.54% of the company’s stock.

Institutional Trading of CBRE Group

Several institutional investors have recently modified their holdings of the stock. Crossmark Global Holdings Inc. boosted its position in CBRE Group by 0.6% during the second quarter. Crossmark Global Holdings Inc. now owns 62,540 shares of the financial services provider’s stock worth $5,573,000 after acquiring an additional 365 shares during the last quarter. Smith Salley Wealth Management boosted its position in CBRE Group by 15.0% during the second quarter. Smith Salley Wealth Management now owns 2,597 shares of the financial services provider’s stock worth $231,000 after acquiring an additional 339 shares during the last quarter. Principal Financial Group Inc. boosted its position in CBRE Group by 3.0% during the second quarter. Principal Financial Group Inc. now owns 7,146,749 shares of the financial services provider’s stock worth $636,847,000 after acquiring an additional 210,004 shares during the last quarter. UMB Bank n.a. boosted its position in CBRE Group by 9.5% during the second quarter. UMB Bank n.a. now owns 3,121 shares of the financial services provider’s stock worth $278,000 after acquiring an additional 271 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its position in CBRE Group by 7.4% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 93,525 shares of the financial services provider’s stock worth $8,334,000 after acquiring an additional 6,415 shares during the last quarter. Institutional investors and hedge funds own 98.41% of the company’s stock.

CBRE Group Company Profile

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.