StockNews.com Upgrades CBRE Group (NYSE:CBRE) to “Buy”

CBRE Group (NYSE:CBRE) was upgraded by investment analysts at StockNews.com from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Tuesday.

Several other brokerages have also recently issued reports on CBRE. Keefe, Bruyette & Woods raised their target price on CBRE Group from $96.00 to $100.00 and gave the stock a “market perform” rating in a research report on Friday, February 16th. Raymond James lifted their price objective on CBRE Group from $95.00 to $103.00 and gave the stock a “strong-buy” rating in a research note on Thursday, January 25th. Evercore ISI lifted their price objective on CBRE Group from $103.00 to $104.00 and gave the stock an “in-line” rating in a research note on Tuesday, April 2nd. Jefferies Financial Group began coverage on CBRE Group in a research note on Wednesday, April 10th. They issued a “hold” rating and a $107.00 price objective on the stock. Finally, TheStreet raised CBRE Group from a “c+” rating to a “b-” rating in a research note on Thursday, January 25th. Four investment analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $99.50.

CBRE Group Stock Performance

NYSE:CBRE opened at $86.76 on Tuesday. The firm has a market cap of $26.63 billion, a PE ratio of 27.37 and a beta of 1.42. CBRE Group has a fifty-two week low of $64.63 and a fifty-two week high of $98.65. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.17 and a current ratio of 1.17. The business has a 50 day moving average price of $92.39 and a 200-day moving average price of $85.19.

CBRE Group (NYSE:CBRE) last posted its quarterly earnings data on Thursday, February 15th. The financial services provider reported $1.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.21 by $0.17. The business had revenue of $8.95 billion during the quarter, compared to the consensus estimate of $8.44 billion. CBRE Group had a return on equity of 13.69% and a net margin of 3.09%. The firm’s quarterly revenue was up 9.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.33 earnings per share. Equities research analysts predict that CBRE Group will post 4.44 earnings per share for the current year.

Insiders Place Their Bets

In other CBRE Group news, CEO Chandra Dhandapani sold 11,925 shares of the company’s stock in a transaction on Friday, February 16th. The stock was sold at an average price of $94.03, for a total value of $1,121,307.75. Following the completion of the sale, the chief executive officer now directly owns 127,064 shares in the company, valued at approximately $11,947,827.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, CEO Chandra Dhandapani sold 11,925 shares of the business’s stock in a transaction on Friday, February 16th. The stock was sold at an average price of $94.03, for a total value of $1,121,307.75. Following the completion of the transaction, the chief executive officer now directly owns 127,064 shares of the company’s stock, valued at approximately $11,947,827.92. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Emma E. Giamartino sold 2,667 shares of the business’s stock in a transaction on Monday, March 11th. The stock was sold at an average price of $93.53, for a total value of $249,444.51. Following the completion of the transaction, the chief financial officer now directly owns 72,350 shares of the company’s stock, valued at $6,766,895.50. The disclosure for this sale can be found here. In the last ninety days, insiders sold 39,592 shares of company stock worth $3,675,752. 0.54% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the stock. Turtle Creek Wealth Advisors LLC acquired a new position in CBRE Group during the 4th quarter valued at about $45,000. Cary Street Partners Investment Advisory LLC increased its holdings in shares of CBRE Group by 190.6% in the third quarter. Cary Street Partners Investment Advisory LLC now owns 497 shares of the financial services provider’s stock valued at $37,000 after purchasing an additional 326 shares during the period. Bruce G. Allen Investments LLC acquired a new position in shares of CBRE Group in the fourth quarter valued at about $48,000. Planned Solutions Inc. acquired a new position in shares of CBRE Group in the fourth quarter valued at about $52,000. Finally, Headinvest LLC acquired a new position in shares of CBRE Group in the third quarter valued at about $44,000. 98.41% of the stock is owned by institutional investors.

About CBRE Group

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.