Colliers International Group Inc. (NASDAQ:CIGI) (TSE:CIG) was upgraded by research analysts at CIBC from a “sector perform” rating to a “sector outperform” rating in a research note issued to investors on Thursday.

A number of other research firms have also recently issued reports on CIGI. Raymond James Financial, Inc. reiterated an “outperform” rating and issued a $44.00 target price on shares of Colliers International Group in a research note on Tuesday, January 31st. Zacks Investment Research upgraded Colliers International Group from a “strong sell” rating to a “hold” rating in a research note on Monday, January 2nd. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $51.00.

Shares of Colliers International Group (NASDAQ:CIGI) traded up 7.02% during midday trading on Thursday, reaching $45.00. 106,330 shares of the company were exchanged. The firm’s 50 day moving average is $37.41 and its 200-day moving average is $39.16. Colliers International Group has a 52-week low of $32.14 and a 52-week high of $45.40. The company has a market capitalization of $1.74 billion, a PE ratio of 29.66 and a beta of 1.48.

Colliers International Group (NASDAQ:CIGI) last posted its earnings results on Wednesday, February 15th. The company reported $1.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.06 by $0.16. The company had revenue of $576 million for the quarter, compared to analysts’ expectations of $606.84 million. Colliers International Group had a return on equity of 52.27% and a net margin of 3.17%. Colliers International Group’s revenue was up 3.6% compared to the same quarter last year. On average, equities analysts forecast that Colliers International Group will post $2.28 earnings per share for the current fiscal year.

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In related news, major shareholder Spruce House Partnership Lp acquired 52,723 shares of the business’s stock in a transaction that occurred on Thursday, February 9th. The shares were acquired at an average cost of $38.28 per share, for a total transaction of $2,018,236.44. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 15.30% of the stock is owned by insiders.

Large investors have recently modified their holdings of the stock. Schroder Investment Management Group boosted its stake in shares of Colliers International Group by 8.7% in the third quarter. Schroder Investment Management Group now owns 5,874 shares of the company’s stock worth $323,000 after buying an additional 468 shares in the last quarter. AMP Capital Investors Ltd boosted its stake in shares of Colliers International Group by 3.4% in the third quarter. AMP Capital Investors Ltd now owns 30,000 shares of the company’s stock worth $1,257,000 after buying an additional 1,000 shares in the last quarter. Tower Research Capital LLC TRC boosted its stake in shares of Colliers International Group by 139.4% in the third quarter. Tower Research Capital LLC TRC now owns 2,665 shares of the company’s stock worth $147,000 after buying an additional 1,552 shares in the last quarter. Legal & General Group Plc boosted its stake in shares of Colliers International Group by 57.4% in the second quarter. Legal & General Group Plc now owns 4,389 shares of the company’s stock worth $149,000 after buying an additional 1,600 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in shares of Colliers International Group by 7.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 60,338 shares of the company’s stock worth $2,217,000 after buying an additional 3,929 shares in the last quarter. Institutional investors and hedge funds own 60.88% of the company’s stock.

Colliers International Group Company Profile

Colliers International Group Inc is engaged in the provision of commercial real estate services. The Company’s primary services are outsourcing and advisory services, lease brokerage and sales brokerage. The Company’s segments include Americas; Europe, Middle East and Africa (EMEA); Asia Pacific, and Corporate.

5 Day Chart for NASDAQ:CIGI

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