Colliers International Group Inc. (CIGI) Stock Rating Reaffirmed by BMO Capital Markets

BMO Capital Markets reaffirmed their outperform rating on shares of Colliers International Group Inc. (NASDAQ:CIGI) (TSE:CIGI) in a research report report published on Wednesday morning. The firm currently has a $65.00 price objective on the financial services provider’s stock.

CIGI has been the subject of several other reports. ValuEngine raised Colliers International Group from a hold rating to a buy rating in a research report on Friday, September 1st. Zacks Investment Research raised Colliers International Group from a sell rating to a hold rating in a research report on Tuesday, October 3rd. Scotiabank reduced their price target on Colliers International Group from $76.00 to $75.50 and set an outperform rating for the company in a research report on Thursday, August 3rd. Royal Bank Of Canada reissued a buy rating and issued a $62.00 price target on shares of Colliers International Group in a research report on Wednesday, September 27th. Finally, BidaskClub lowered Colliers International Group from a strong-buy rating to a buy rating in a research report on Monday, July 24th. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Colliers International Group has an average rating of Buy and a consensus target price of $72.25.

Shares of Colliers International Group (NASDAQ:CIGI) opened at $59.20 on Wednesday. The firm has a market capitalization of $2,299.33, a price-to-earnings ratio of 24.98 and a beta of 1.81. The company has a debt-to-equity ratio of 1.48, a current ratio of 0.99 and a quick ratio of 1.11. Colliers International Group has a 1-year low of $34.20 and a 1-year high of $60.75.

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Colliers International Group declared that its Board of Directors has initiated a stock buyback plan on Thursday, July 13th that allows the company to buyback 2,700,000 outstanding shares. This buyback authorization allows the financial services provider to purchase shares of its stock through open market purchases. Shares buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.

Large investors have recently made changes to their positions in the stock. K.J. Harrison & Partners Inc purchased a new stake in Colliers International Group during the 3rd quarter valued at about $1,237,000. Kirr Marbach & Co. LLC IN grew its stake in Colliers International Group by 1.2% during the 3rd quarter. Kirr Marbach & Co. LLC IN now owns 255,681 shares of the financial services provider’s stock valued at $12,707,000 after purchasing an additional 2,923 shares during the last quarter. Burgundy Asset Management Ltd. purchased a new stake in Colliers International Group during the 2nd quarter valued at about $110,102,000. Scotia Capital Inc. grew its stake in Colliers International Group by 46.4% during the 2nd quarter. Scotia Capital Inc. now owns 7,073 shares of the financial services provider’s stock valued at $398,000 after purchasing an additional 2,242 shares during the last quarter. Finally, Bank of Nova Scotia grew its stake in Colliers International Group by 95.4% during the 2nd quarter. Bank of Nova Scotia now owns 10,110 shares of the financial services provider’s stock valued at $571,000 after purchasing an additional 4,937 shares during the last quarter. 63.51% of the stock is currently owned by institutional investors.

About Colliers International Group

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

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