Colliers International Group (NASDAQ:CIGI) Stock Jumps 8.9% – Should You Buy?

Colliers International Group Inc. (NASDAQ:CIGI) (TSE:CIGI)’s share price traded up 8.9% during trading on Monday. The company traded as high as $104.69 and last traded at $105.2470. Approximately 184,852 shares were traded during trading, a decline of 35% from the average daily volume of 286,080 shares. The stock had previously closed at $96.65.

Analysts Set New Price Targets

A number of research firms have recently issued reports on CIGI. Scotia cut their price objective on Colliers International Group from $150.00 to $145.00 and set a “sector outperform” rating for the company in a research report on Friday, July 31st. Scotiabank reduced their target price on Colliers International Group from $145.00 to $130.00 and set a “sector outperform” rating for the company in a research note on Wednesday, October 28th. National Bank Financial decreased their target price on Colliers International Group from $110.00 to $109.00 and set an “outperform” rating on the stock in a report on Thursday, October 15th. Weiss Ratings upgraded Colliers International Group from a “sell (d)” rating to a “hold (c-)” rating in a research note on Thursday, August 6th. Finally, BMO Capital Markets reaffirmed an “outperform” rating on shares of Colliers International Group in a report on Thursday, September 24th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $148.86.

Colliers International Group Stock Performance

The firm has a market cap of $5.32 billion, a price-to-earnings ratio of 49.72 and a beta of 1.18. The company has a current ratio of 1.19, a quick ratio of 1.19 and a debt-to-equity ratio of 1.61. The stock’s 50 day moving average is $93.53 and its 200 day moving average is $104.63.

Colliers International Group (NASDAQ:CIGI) (TSE:CIGI) last issued its quarterly earnings data on Thursday, July 30th. The financial services provider reported $1.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.79 by $0.04. Colliers International Group had a net margin of 1.81% and a return on equity of 20.17%. The firm had revenue of $1.38 billion during the quarter, compared to the consensus estimate of $1.48 billion. During the same period last year, the business posted $1.72 earnings per share. The business’s revenue for the quarter was up 16.7% compared to the same quarter last year. Analysts anticipate that Colliers International Group Inc. will post 6.90 earnings per share for the current year.

Hedge Funds Weigh In On Colliers International Group

Large investors have recently made changes to their positions in the company. The Manufacturers Life Insurance Company bought a new stake in Colliers International Group in the 2nd quarter valued at $292,656,000. Jupiter Topco LLC bought a new position in Colliers International Group during the 2nd quarter worth $238,809,000. Spruce House Investment Management LLC lifted its holdings in shares of Colliers International Group by 93.0% during the first quarter. Spruce House Investment Management LLC now owns 2,511,000 shares of the financial services provider’s stock worth $268,387,000 after buying an additional 1,209,867 shares in the last quarter. Turtle Creek Asset Management Inc. lifted its holdings in shares of Colliers International Group by 100.9% during the first quarter. Turtle Creek Asset Management Inc. now owns 1,633,556 shares of the financial services provider’s stock worth $174,611,000 after buying an additional 820,315 shares in the last quarter. Finally, Cibc World Market Inc. acquired a new stake in shares of Colliers International Group during the second quarter worth $56,724,000. Institutional investors own 80.09% of the company’s stock.

About Colliers International Group

Colliers International Group Inc is a global professional services and investment management company focused on commercial real estate and related business services. The company serves corporate, institutional and private clients through a broad platform that includes leasing, capital markets, valuation and advisory services.

Its other activities include property, facilities and project management, engineering and consulting services, and real estate investment management. These services are designed to help clients manage, develop, lease, acquire and dispose of commercial properties and portfolios across a range of sectors.

Colliers operates across the Americas, Asia Pacific and Europe, the Middle East and Africa through a combination of company-owned operations and affiliated offices.