CBRE Group (NYSE:CBRE) Upgraded to Overweight at Morgan Stanley

CBRE Group (NYSE:CBRE) was upgraded by equities research analysts at Morgan Stanley from an “equal weight” rating to an “overweight” rating in a research note issued on Wednesday,Briefing.com Automated Import reports. The firm presently has a $160.00 target price on the financial services provider’s stock, up from their previous target price of $115.00. Morgan Stanley’s target price suggests a potential upside of 28.18% from the company’s previous close.

A number of other brokerages have also weighed in on CBRE. JPMorgan Chase & Co. upgraded CBRE Group from a “neutral” rating to an “overweight” rating and raised their price objective for the company from $120.00 to $163.00 in a research note on Monday, December 16th. Citigroup raised their target price on shares of CBRE Group from $130.00 to $160.00 and gave the company a “buy” rating in a research note on Monday, November 25th. Evercore ISI decreased their price objective on shares of CBRE Group from $147.00 to $141.00 and set an “outperform” rating for the company in a report on Monday. Jefferies Financial Group upgraded CBRE Group from a “hold” rating to a “buy” rating and upped their target price for the stock from $133.00 to $152.00 in a research report on Thursday, January 2nd. Finally, The Goldman Sachs Group began coverage on CBRE Group in a research report on Friday, December 6th. They set a “buy” rating and a $176.00 price target on the stock. Three research analysts have rated the stock with a hold rating, six have issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $145.44.

CBRE Group Stock Up 1.0 %

Shares of NYSE CBRE opened at $124.82 on Wednesday. The stock has a fifty day moving average price of $133.32 and a 200 day moving average price of $120.55. The company has a market cap of $38.20 billion, a P/E ratio of 40.14 and a beta of 1.39. CBRE Group has a 12-month low of $82.75 and a 12-month high of $142.00. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.34.

CBRE Group (NYSE:CBRE) last released its quarterly earnings results on Thursday, October 24th. The financial services provider reported $1.20 EPS for the quarter, topping the consensus estimate of $1.06 by $0.14. CBRE Group had a return on equity of 13.91% and a net margin of 2.79%. The firm had revenue of $9.04 billion for the quarter, compared to analyst estimates of $8.80 billion. During the same period in the previous year, the company posted $0.72 EPS. CBRE Group’s revenue for the quarter was up 14.8% on a year-over-year basis. Research analysts anticipate that CBRE Group will post 4.99 EPS for the current fiscal year.

Insiders Place Their Bets

In other CBRE Group news, CFO Emma E. Giamartino sold 1,815 shares of the business’s stock in a transaction on Friday, November 15th. The shares were sold at an average price of $131.34, for a total transaction of $238,382.10. Following the completion of the transaction, the chief financial officer now owns 70,154 shares of the company’s stock, valued at $9,214,026.36. The trade was a 2.52 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.54% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. Ritholtz Wealth Management bought a new position in CBRE Group during the fourth quarter worth $1,008,000. Burney Co. lifted its stake in shares of CBRE Group by 398.3% in the fourth quarter. Burney Co. now owns 15,147 shares of the financial services provider’s stock valued at $1,989,000 after buying an additional 12,107 shares during the period. Park Avenue Securities LLC increased its stake in CBRE Group by 43.0% during the fourth quarter. Park Avenue Securities LLC now owns 35,160 shares of the financial services provider’s stock valued at $4,616,000 after acquiring an additional 10,573 shares during the period. Fifth Third Wealth Advisors LLC raised its holdings in CBRE Group by 18.1% in the 4th quarter. Fifth Third Wealth Advisors LLC now owns 3,348 shares of the financial services provider’s stock valued at $440,000 after acquiring an additional 513 shares in the last quarter. Finally, Greenfield Savings Bank increased its position in shares of CBRE Group by 5.2% during the fourth quarter. Greenfield Savings Bank now owns 5,138 shares of the financial services provider’s stock valued at $675,000 after purchasing an additional 252 shares during the period. 98.41% of the stock is currently owned by institutional investors and hedge funds.

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.