Wall Street Zen Upgrades CBRE Group (NYSE:CBRE) to Buy

CBRE Group (NYSE:CBRE) was upgraded by stock analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a research note issued to investors on Saturday.

CBRE has been the topic of a number of other research reports. Weiss Ratings cut CBRE Group from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Tuesday, May 26th. Jefferies Financial Group reiterated a “buy” rating on shares of CBRE Group in a report on Friday, May 15th. Evercore set a $169.00 target price on shares of CBRE Group in a research report on Tuesday, June 30th. Keefe, Bruyette & Woods boosted their price target on shares of CBRE Group from $170.00 to $175.00 and gave the company an “outperform” rating in a report on Friday, April 24th. Finally, UBS Group restated a “buy” rating on shares of CBRE Group in a research report on Wednesday, June 17th. Eight investment analysts have rated the stock with a Buy rating and one has given a Hold 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 $178.86.

CBRE Group Stock Performance

CBRE opened at $139.50 on Friday. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.57. The firm has a market cap of $40.85 billion, a PE ratio of 31.78 and a beta of 1.20. The business has a fifty day simple moving average of $134.36 and a 200-day simple moving average of $143.99. CBRE Group has a fifty-two week low of $121.69 and a fifty-two week high of $174.27.

CBRE Group (NYSE:CBRE) last announced its earnings results on Thursday, April 23rd. The financial services provider reported $1.61 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.13 by $0.48. CBRE Group had a return on equity of 24.08% and a net margin of 3.11%.The company had revenue of $10.53 billion for the quarter, compared to analyst estimates of $10.22 billion. During the same period in the previous year, the firm earned $0.86 earnings per share. CBRE Group’s revenue for the quarter was up 18.1% compared to the same quarter last year. As a group, equities analysts predict that CBRE Group will post 7.75 EPS for the current fiscal year.

Insider Buying and Selling

In other CBRE Group news, CFO Emma E. Giamartino sold 2,250 shares of the company’s stock in a transaction that occurred on Friday, May 15th. The shares were sold at an average price of $130.74, for a total value of $294,165.00. Following the transaction, the chief financial officer owned 110,729 shares in the company, valued at approximately $14,476,709.46. This represents a 1.99% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.46% of the company’s stock.

Hedge Funds Weigh In On CBRE Group

Several institutional investors and hedge funds have recently modified their holdings of the stock. Swiss RE Ltd. acquired a new position in shares of CBRE Group in the fourth quarter worth $25,000. Navalign LLC purchased a new position in CBRE Group in the fourth quarter valued at about $29,000. Ascentis Independent Advisors purchased a new position in CBRE Group in the first quarter valued at about $30,000. Cassaday & Co Wealth Management LLC acquired a new position in CBRE Group in the 1st quarter worth about $33,000. Finally, Thurston Springer Miller Herd & Titak Inc. acquired a new position in CBRE Group in the 4th quarter worth about $42,000. 98.41% of the stock is currently owned by hedge funds and other institutional investors.

About CBRE Group

CBRE Group, Inc is a global commercial real estate services and investment firm that provides a broad range of advisory, transactional and property-related services to occupiers, investors and owners. Its core activities include leasing and sales brokerage, facilities and property management, valuation and advisory, project and development services, and capital markets execution. The firm serves corporate occupiers, institutional investors, private owners and public entities across office, industrial, retail, multifamily and specialized property types.

In addition to traditional brokerage and management services, CBRE offers investment management capabilities and outsourced real estate solutions, combining market research, technology and data analytics to support portfolio strategy, transaction execution and asset operations.