Scotiabank Cuts Colliers International Group (NASDAQ:CIGI) Price Target to $155.00

Colliers International Group (NASDAQ:CIGI) (TSE:CIGI) had its price target cut by stock analysts at Scotiabank from $185.00 to $155.00 in a research report issued on Tuesday,BayStreet.CA reports. The brokerage currently has an “outperform” rating on the financial services provider’s stock. Scotiabank’s price objective would indicate a potential upside of 39.65% from the company’s previous close.

CIGI has been the topic of a number of other reports. Canadian Imperial Bank of Commerce increased their price objective on shares of Colliers International Group from $175.00 to $179.00 and gave the company an “outperform” rating in a research report on Monday, October 20th. Wall Street Zen downgraded Colliers International Group from a “buy” rating to a “hold” rating in a report on Saturday. Royal Bank Of Canada dropped their price objective on Colliers International Group from $190.00 to $180.00 and set an “outperform” rating on the stock in a report on Tuesday. Stifel Nicolaus upped their price target on Colliers International Group from $190.00 to $195.00 and gave the company a “buy” rating in a report on Wednesday, February 4th. Finally, National Bank Financial raised their price objective on shares of Colliers International Group from $181.00 to $185.00 in a report on Monday, December 15th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, Colliers International Group presently has an average rating of “Moderate Buy” and a consensus target price of $168.89.

Colliers International Group Stock Down 2.1%

CIGI traded down $2.40 during trading hours on Tuesday, hitting $110.99. 544,978 shares of the company’s stock were exchanged, compared to its average volume of 395,559. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 1.27. Colliers International Group has a 12-month low of $98.97 and a 12-month high of $171.51. The firm has a market cap of $5.52 billion, a P/E ratio of 55.19 and a beta of 1.40. The firm has a 50 day moving average of $141.85 and a 200 day moving average of $151.28.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of CIGI. Durable Capital Partners LP increased its position in shares of Colliers International Group by 22.0% in the second quarter. Durable Capital Partners LP now owns 3,625,501 shares of the financial services provider’s stock worth $473,273,000 after acquiring an additional 652,744 shares in the last quarter. Norges Bank acquired a new position in shares of Colliers International Group during the fourth quarter worth $84,906,000. Bank of Montreal Can boosted its stake in shares of Colliers International Group by 69.0% in the fourth quarter. Bank of Montreal Can now owns 1,076,806 shares of the financial services provider’s stock valued at $158,274,000 after purchasing an additional 439,607 shares during the period. JPMorgan Chase & Co. grew its holdings in Colliers International Group by 114,621.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 344,165 shares of the financial services provider’s stock valued at $53,762,000 after purchasing an additional 343,865 shares in the last quarter. Finally, Alberta Investment Management Corp purchased a new stake in Colliers International Group during the 4th quarter worth $47,799,000. Hedge funds and other institutional investors own 80.09% of the company’s stock.

Colliers International Group Company Profile

Colliers International Group Inc is a global commercial real estate services and investment management firm offering a full suite of solutions to occupiers, owners and investors. The company’s real estate services encompass brokerage and agency leasing, capital markets advisory, property and facility management, valuation and advisory, project and development services, workplace and corporate real estate solutions, and market research. Through these offerings, Colliers supports clients across the entire real estate life cycle, from site selection to asset disposition.

The firm operates through two principal segments: real estate services and investment management.