National Bankshares Adjusts Price Target for Colliers International Group (NASDAQ:CIGI)

Colliers International Group (NASDAQ:CIGI - Get Free Report) recently received an update from National Bankshares, which has lowered its target price for the company's stock from $182.00 to $169.00. This adjustment was made public in a research report issued on Friday. Despite the decrease in target price, National Bankshares maintains an "outperform" rating on Colliers, indicating their belief that the stock will perform well relative to the market. Based on this new target price, there is still a potential upside of approximately 26.34% from the company's current trading price.

In addition to National Bankshares, several other analysts have provided updates on Colliers International Group's stock. Scotiabank has reduced its target price for the stock from $170.00 to $166.00 and has issued a "sector outperform" rating. Meanwhile, Goldman Sachs began its coverage of Colliers International Group with a "neutral" rating, setting a target price of $170.00.

Additionally, Royal Bank of Canada raised their target price from $160.00 to $174.00, again marking the company with an "outperform" rating. National Bank Financial has also upgraded their rating from "hold" to "strong-buy," signaling increased confidence in the company's future performance. Lastly, JPMorgan Chase & Co. started covering the stock as well, giving it a "neutral" rating with a price target of $167.00. The research landscape reflects a diverse set of opinions, with four analysts rating the stock as a hold, five as a buy, and one as a strong buy. Colliers International currently holds a consensus rating of "Moderate Buy" on MarketBeat.com, with an average target price of $168.63.

Colliers International Group's Recent Trading Activity

On Friday, shares of NASDAQ:CIGI traded down by 1.7%, reaching a price of $133.77 per share. The trading session saw a volume of 156,387 shares exchanged, which surpasses the average daily volume of 115,969. Over the past year, Colliers International has experienced a low of $101.01 and a high of $156.96. The company's market capitalization stands at $6.59 billion, with a price-to-earnings (P/E) ratio of 42.60 and a beta of 1.49, indicating its volatility relative to the market.

As for fundamental performance, Colliers International Group announced its latest quarterly earnings on February 6th. The company reported earnings per share (EPS) of $1.87, which fell short of analyst expectations of $2.40 by $0.53. Despite this earnings miss, Colliers recorded a net margin of 3.38% and a return on equity of 21.78%. Analysts project that the company will generate an EPS of 5.41 for the current fiscal year.

Hedge Funds Influence on Colliers International Group

The investment landscape for Colliers International has seen significant activity from institutional investors and hedge funds. For instance, Janus Henderson Group PLC acquired a new stake in the company during the third quarter, with an investment of approximately $69.92 million. Franklin Resources Inc. has also increased its holdings in Colliers by 100.8%, now owning 678,836 shares valued at around $102.26 million after acquiring an additional 340,691 shares last quarter.

Loomis Sayles & Co. L P bolstered its position by 55.5% during the same timeframe, bringing their total to 358,748 shares worth about $54.46 million. Connor Clark & Lunn Investment Management Ltd. and Massachusetts Financial Services Co. MA also expanded their stakes in Colliers, indicating strong confidence from institutional investors in the company’s future. As a result, about 80.09% of Colliers International Group's stock is owned by institutional investors.

Overview of Colliers International Group

Colliers International Group Inc. specializes in providing commercial real estate professional and investment management services. The company serves a wide range of clients including corporate and institutional entities across multiple regions, including the Americas, Europe, the Middle East, Africa, and the Asia Pacific. Their services encompass outsourcing and advisory support, covering aspects such as engineering management, project oversight, property management, and valuation, among others.

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