Newmark Group (NASDAQ:NMRK) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Tuesday. The brokerage currently has a $18.00 price target on the stock. Zacks Investment Research‘s target price suggests a potential upside of 15.68% from the company’s previous close.

According to Zacks, “Newmark Group, Inc. operates as a commercial real estate advisory firm. The Company offers services and products which includes investment sales, debt and structured finance and loan sales, agency leasing, property management, valuation and advisory and loan servicing. Newmark Group, Inc. is based in New York, United States. “

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Other analysts have also recently issued research reports about the company. Keefe, Bruyette & Woods assumed coverage on Newmark Group in a research report on Tuesday, January 9th. They issued a “market perform” rating and a $17.00 price target for the company. Wedbush restated an “outperform” rating and issued a $20.00 price target on shares of Newmark Group in a research report on Monday, February 12th. Goldman Sachs started coverage on Newmark Group in a research report on Tuesday, January 9th. They issued a “buy” rating and a $24.00 price target for the company. Raymond James Financial started coverage on Newmark Group in a research report on Tuesday, February 6th. They set an “outperform” rating and a $21.00 target price for the company. Finally, Bank of America started coverage on Newmark Group in a research report on Tuesday, January 9th. They set a “buy” rating and a $20.00 target price for the company. One research analyst has rated the stock with a hold rating and six have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $19.79.

Shares of Newmark Group (NASDAQ:NMRK) opened at $15.56 on Tuesday. Newmark Group has a 1 year low of $13.72 and a 1 year high of $16.98.

Newmark Group (NASDAQ:NMRK) last issued its quarterly earnings results on Friday, February 9th. The company reported $0.30 EPS for the quarter, hitting analysts’ consensus estimates of $0.30. The company had revenue of $460.60 million during the quarter, compared to analysts’ expectations of $428.10 million. During the same quarter in the previous year, the company earned $0.31 EPS. research analysts predict that Newmark Group will post 1.49 EPS for the current fiscal year.

Large investors have recently added to or reduced their stakes in the stock. Wells Fargo & Company MN purchased a new stake in shares of Newmark Group during the fourth quarter worth about $153,000. Brown Advisory Inc. purchased a new stake in shares of Newmark Group during the fourth quarter worth about $210,000. Landscape Capital Management L.L.C. purchased a new stake in shares of Newmark Group during the fourth quarter worth about $239,000. Geode Capital Management LLC purchased a new stake in shares of Newmark Group during the fourth quarter worth about $397,000. Finally, Emerald Advisers Inc. PA purchased a new stake in shares of Newmark Group during the fourth quarter worth about $1,368,000. Hedge funds and other institutional investors own 12.76% of the company’s stock.

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About Newmark Group

Newmark Group, Inc is a commercial real estate services company. The Company is focused on offering products and services to both owners and occupiers across the entire commercial real estate industry. Its investor/owner services and products include capital markets, which consists of investment sales, debt and structured finance and loan sales, agency leasing, property management, valuation and advisory, diligence and underwriting and government-sponsored enterprise lending and loan servicing.

Analyst Recommendations for Newmark Group (NASDAQ:NMRK)

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