Cushman & Wakefield (NYSE:CWK) Hits New 12-Month High on Analyst Upgrade

Cushman & Wakefield PLC (NYSE:CWK) shares hit a new 52-week high on Tuesday after JPMorgan Chase & Co. raised their price target on the stock from $13.00 to $20.00. JPMorgan Chase & Co. currently has a neutral rating on the stock. Cushman & Wakefield traded as high as $16.16 and last traded at $16.13, with a volume of 229477 shares trading hands. The stock had previously closed at $15.99.

Several other brokerages have also recently issued reports on CWK. JMP Securities raised their target price on shares of Cushman & Wakefield from $15.00 to $16.00 and gave the stock a “market outperform” rating in a report on Wednesday, August 6th. Morgan Stanley set a $14.50 target price on shares of Cushman & Wakefield and gave the stock an “overweight” rating in a report on Thursday, June 12th. Wall Street Zen upgraded shares of Cushman & Wakefield from a “buy” rating to a “strong-buy” rating in a report on Saturday, August 9th. The Goldman Sachs Group upgraded shares of Cushman & Wakefield from a “sell” rating to a “buy” rating and set a $17.50 price target on the stock in a report on Friday, August 8th. Finally, Citizens Jmp assumed coverage on shares of Cushman & Wakefield in a report on Monday, July 21st. They set a “strong-buy” rating and a $15.00 target price on the stock. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Cushman & Wakefield has a consensus rating of “Moderate Buy” and a consensus price target of $15.13.

Hedge Funds Weigh In On Cushman & Wakefield

A number of hedge funds have recently bought and sold shares of the business. Principal Financial Group Inc. lifted its stake in Cushman & Wakefield by 2.6% during the 1st quarter. Principal Financial Group Inc. now owns 1,307,884 shares of the company’s stock valued at $13,367,000 after acquiring an additional 32,795 shares during the period. Allspring Global Investments Holdings LLC lifted its stake in Cushman & Wakefield by 2.0% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 584,353 shares of the company’s stock valued at $5,972,000 after acquiring an additional 11,247 shares during the period. Crossmark Global Holdings Inc. bought a new position in Cushman & Wakefield during the 1st quarter valued at about $333,000. Deutsche Bank AG lifted its stake in Cushman & Wakefield by 58.0% during the 4th quarter. Deutsche Bank AG now owns 206,164 shares of the company’s stock valued at $2,697,000 after acquiring an additional 75,693 shares during the period. Finally, SG Americas Securities LLC bought a new position in Cushman & Wakefield during the 1st quarter valued at about $450,000. Hedge funds and other institutional investors own 95.56% of the company’s stock.

Cushman & Wakefield Stock Up 0.7%

The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 1.48. The firm has a market cap of $3.69 billion, a P/E ratio of 18.13 and a beta of 1.50. The company’s 50 day simple moving average is $12.58 and its 200-day simple moving average is $11.11.

Cushman & Wakefield (NYSE:CWK) last posted its earnings results on Tuesday, August 5th. The company reported $0.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.22 by $0.08. The business had revenue of $1.65 billion for the quarter, compared to analysts’ expectations of $2.38 billion. Cushman & Wakefield had a net margin of 2.11% and a return on equity of 14.33%. The business’s revenue for the quarter was up 7.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.20 EPS. Research analysts forecast that Cushman & Wakefield PLC will post 1.2 earnings per share for the current fiscal year.

Cushman & Wakefield Company Profile

Cushman & Wakefield Plc engages in the provision of commercial real estate services. It operates through the following geographical segments: Americas, Europe, Middle East and Africa (EMEA), and Asia Pacific (APAC). The Americas segment consists of operations located in the United States, Canada and key markets in Latin America.