Morgan Stanley Forecasts Strong Price Appreciation for CBRE Group (NYSE:CBRE) Stock

CBRE Group (NYSE:CBRE) had its target price lifted by Morgan Stanley from $160.00 to $165.00 in a report issued on Wednesday,Benzinga reports. The brokerage currently has an “overweight” rating on the financial services provider’s stock. Morgan Stanley’s target price would indicate a potential upside of 15.93% from the stock’s current price.

Other research analysts have also issued research reports about the company. JPMorgan Chase & Co. upgraded CBRE Group from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $120.00 to $163.00 in a research report on Monday, December 16th. Jefferies Financial Group raised shares of CBRE Group from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $133.00 to $152.00 in a report on Thursday, January 2nd. The Goldman Sachs Group started coverage on shares of CBRE Group in a report on Friday, December 6th. They set a “buy” rating and a $176.00 target price on the stock. Evercore ISI decreased their price target on shares of CBRE Group from $147.00 to $141.00 and set an “outperform” rating for the company in a report on Monday, January 13th. Finally, Citigroup increased their price objective on shares of CBRE Group from $130.00 to $160.00 and gave the stock a “buy” rating in a research note on Monday, November 25th. Three equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $149.89.

CBRE Group Stock Down 1.0 %

Shares of CBRE stock traded down $1.48 during trading hours on Wednesday, reaching $142.33. The company had a trading volume of 502,200 shares, compared to its average volume of 1,827,374. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.13 and a current ratio of 1.07. CBRE Group has a twelve month low of $84.24 and a twelve month high of $147.75. The stock’s fifty day simple moving average is $136.37 and its 200 day simple moving average is $128.26. The company has a market capitalization of $43.55 billion, a P/E ratio of 45.33 and a beta of 1.39.

CBRE Group (NYSE:CBRE) last issued its quarterly earnings results on Thursday, February 13th. The financial services provider reported $2.32 EPS for the quarter, beating analysts’ consensus estimates of $2.20 by $0.12. CBRE Group had a return on equity of 16.96% and a net margin of 2.71%. As a group, sell-side analysts expect that CBRE Group will post 6 earnings per share for the current fiscal year.

Hedge Funds Weigh In On CBRE Group

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Norges Bank acquired a new position in shares of CBRE Group during the fourth quarter valued at $514,609,000. FMR LLC grew its position in CBRE Group by 85.6% in the 3rd quarter. FMR LLC now owns 7,587,042 shares of the financial services provider’s stock valued at $944,435,000 after buying an additional 3,498,244 shares in the last quarter. Artisan Partners Limited Partnership increased its stake in CBRE Group by 290.0% during the 4th quarter. Artisan Partners Limited Partnership now owns 4,050,089 shares of the financial services provider’s stock valued at $531,736,000 after buying an additional 3,011,566 shares during the period. Alphinity Investment Management Pty Ltd bought a new stake in shares of CBRE Group during the 4th quarter worth about $190,695,000. Finally, Manning & Napier Advisors LLC acquired a new stake in shares of CBRE Group in the 4th quarter worth approximately $175,978,000. 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.