National Bank Financial Issues Pessimistic Forecast for Colliers International Group (NASDAQ:CIGI) Stock Price

Colliers International Group (NASDAQ:CIGI) (TSE:CIGI) had its price target lowered by investment analysts at National Bank Financial from $185.00 to $160.00 in a note issued to investors on Tuesday,BayStreet.CA reports. The brokerage currently has an “outperform” rating on the financial services provider’s stock. National Bank Financial’s price objective indicates a potential upside of 44.16% from the company’s current price.

CIGI has been the topic of several other research reports. Stifel Nicolaus raised their price target on Colliers International Group from $190.00 to $195.00 and gave the company a “buy” rating in a research note on Wednesday, February 4th. Canadian Imperial Bank of Commerce increased their target price on Colliers International Group from $175.00 to $179.00 and gave the company an “outperform” rating in a research report on Monday, October 20th. Raymond James Financial upgraded Colliers International Group from an “outperform” rating to a “strong-buy” rating and lifted their target price for the company from $195.00 to $200.00 in a research note on Wednesday, February 4th. Royal Bank Of Canada decreased their price objective on Colliers International Group from $190.00 to $180.00 and set an “outperform” rating for the company in a report on Tuesday. Finally, Scotiabank cut their price objective on Colliers International Group from $185.00 to $155.00 and set an “outperform” rating on the stock in a report on Tuesday. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Colliers International Group presently has an average rating of “Moderate Buy” and an average target price of $168.89.

Colliers International Group Trading Down 2.1%

CIGI traded down $2.40 on Tuesday, reaching $110.99. 544,978 shares of the company traded hands, compared to its average volume of 395,559. The company has a market cap of $5.52 billion, a P/E ratio of 55.19 and a beta of 1.40. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 1.27. Colliers International Group has a one year low of $98.97 and a one year high of $171.51. The firm has a fifty day simple moving average of $141.85 and a two-hundred day simple moving average of $151.28.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Intact Investment Management Inc. lifted its stake in Colliers International Group by 19.3% during the third quarter. Intact Investment Management Inc. now owns 75,180 shares of the financial services provider’s stock worth $11,759,000 after purchasing an additional 12,140 shares in the last quarter. Cidel Asset Management Inc. grew its holdings in Colliers International Group by 3.7% during the 3rd quarter. Cidel Asset Management Inc. now owns 134,127 shares of the financial services provider’s stock worth $20,982,000 after acquiring an additional 4,847 shares in the last quarter. The Manufacturers Life Insurance Company increased its position in shares of Colliers International Group by 21.3% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 903,500 shares of the financial services provider’s stock valued at $117,619,000 after purchasing an additional 158,668 shares during the last quarter. Thrivent Financial for Lutherans purchased a new stake in shares of Colliers International Group during the 3rd quarter worth $19,158,000. Finally, Ceredex Value Advisors LLC increased its holdings in Colliers International Group by 2.9% in the second quarter. Ceredex Value Advisors LLC now owns 84,045 shares of the financial services provider’s stock valued at $10,971,000 after buying an additional 2,350 shares during the last quarter. Institutional investors and hedge funds own 80.09% of the company’s stock.

About Colliers International Group

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.