CBRE Group (NYSE:CBRE) Upgraded at Morgan Stanley

Morgan Stanley upgraded shares of CBRE Group (NYSE:CBRE) from an equal weight rating to an overweight rating in a research note published on Wednesday morning, Marketbeat Ratings reports. The brokerage currently has $160.00 price target on the financial services provider’s stock, up from their prior price target of $115.00.

A number of other research firms have also weighed in on CBRE. The Goldman Sachs Group assumed coverage on shares of CBRE Group in a research note on Friday, December 6th. They issued a “buy” rating and a $176.00 price objective on the stock. Keefe, Bruyette & Woods increased their price target on CBRE Group from $125.00 to $138.00 and gave the company a “market perform” rating in a research report on Tuesday, October 29th. Citigroup increased their target price on shares of CBRE Group from $130.00 to $160.00 and gave the company a “buy” rating in a report on Monday, November 25th. Jefferies Financial Group upgraded shares of CBRE Group from a “hold” rating to a “buy” rating and increased their price objective for the company from $133.00 to $152.00 in a research note on Thursday, January 2nd. Finally, Evercore ISI cut their target price on CBRE Group from $147.00 to $141.00 and set an “outperform” rating on the stock in a research note on Monday, January 13th. Three investment analysts have rated the stock with a hold rating, six have issued a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, CBRE Group presently has an average rating of “Moderate Buy” and a consensus price target of $145.44.

CBRE Group Price Performance

Shares of NYSE CBRE opened at $137.02 on Wednesday. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.34. The company has a market capitalization of $41.93 billion, a PE ratio of 44.06 and a beta of 1.39. The firm has a fifty day simple moving average of $133.43 and a 200 day simple moving average of $121.08. CBRE Group has a twelve month low of $82.75 and a twelve month high of $142.00.

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

Insider Activity

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 stock was sold at an average price of $131.34, for a total value of $238,382.10. Following the sale, the chief financial officer now directly owns 70,154 shares in the company, valued at $9,214,026.36. The trade was a 2.52 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 0.54% of the company’s stock.

Institutional Investors Weigh In On CBRE Group

Several large investors have recently added to or reduced their stakes in CBRE. Canton Hathaway LLC bought a new position in CBRE Group during the third quarter worth about $27,000. American National Bank & Trust purchased a new stake in shares of CBRE Group during the 3rd quarter valued at approximately $28,000. Benjamin F. Edwards & Company Inc. boosted its holdings in CBRE Group by 190.3% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 328 shares of the financial services provider’s stock worth $29,000 after buying an additional 215 shares during the period. Ashton Thomas Securities LLC purchased a new position in CBRE Group in the 3rd quarter valued at approximately $32,000. Finally, Wolff Wiese Magana LLC grew its stake in CBRE Group by 2,830.0% in the 3rd quarter. Wolff Wiese Magana LLC now owns 293 shares of the financial services provider’s stock valued at $36,000 after buying an additional 283 shares in the last quarter. Hedge funds and other institutional investors own 98.41% of the company’s stock.

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.