Citigroup Trims Cushman & Wakefield (NYSE:CWK) Target Price to $21.00

Cushman & Wakefield (NYSE:CWKGet Rating) had its target price dropped by investment analysts at Citigroup from $23.00 to $21.00 in a report released on Thursday, April 21st, The Fly reports. Citigroup’s target price would indicate a potential upside of 12.06% from the company’s previous close.

CWK has been the subject of several other research reports. Raymond James lifted their price objective on shares of Cushman & Wakefield from $35.00 to $38.00 and gave the company a “strong-buy” rating in a research note on Friday, February 25th. Wolfe Research reduced their price objective on shares of Cushman & Wakefield from $44.00 to $28.00 and set an “outperform” rating for the company in a research note on Thursday, March 10th. Morgan Stanley dropped their target price on shares of Cushman & Wakefield from $25.00 to $23.00 and set an “overweight” rating on the stock in a report on Tuesday, April 19th. The Goldman Sachs Group began coverage on shares of Cushman & Wakefield in a report on Tuesday, April 5th. They issued a “buy” rating and a $25.00 target price on the stock. Finally, Zacks Investment Research upgraded shares of Cushman & Wakefield from a “hold” rating to a “strong-buy” rating and set a $25.00 target price on the stock in a report on Tuesday, January 25th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Buy” and an average price target of $23.61.

Shares of Cushman & Wakefield stock traded up $0.46 during trading hours on Thursday, hitting $18.74. 1,174,470 shares of the company’s stock traded hands, compared to its average volume of 941,482. The stock has a 50 day moving average of $19.71. The company has a debt-to-equity ratio of 2.22, a quick ratio of 1.16 and a current ratio of 1.16. The stock has a market cap of $4.21 billion, a P/E ratio of 16.77, a PEG ratio of 0.76 and a beta of 1.37. Cushman & Wakefield has a twelve month low of $15.97 and a twelve month high of $23.54.

Cushman & Wakefield (NYSE:CWKGet Rating) last issued its earnings results on Thursday, February 24th. The company reported $0.64 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.46 by $0.18. Cushman & Wakefield had a net margin of 2.66% and a return on equity of 20.16%. The firm had revenue of $2.88 billion for the quarter, compared to analysts’ expectations of $2.66 billion. During the same quarter last year, the company posted ($0.12) earnings per share. Cushman & Wakefield’s revenue was up 26.9% on a year-over-year basis. As a group, sell-side analysts anticipate that Cushman & Wakefield will post 2.36 EPS for the current fiscal year.

In related news, President Andrew R. Mcdonald sold 2,061 shares of Cushman & Wakefield stock in a transaction that occurred on Tuesday, March 29th. The shares were sold at an average price of $21.00, for a total transaction of $43,281.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Chairman W Brett White sold 145,416 shares of the business’s stock in a transaction that occurred on Friday, April 1st. The stock was sold at an average price of $20.60, for a total transaction of $2,995,569.60. Following the completion of the transaction, the chairman now owns 1,327,077 shares in the company, valued at approximately $27,337,786.20. The disclosure for this sale can be found here. Insiders have sold 357,259 shares of company stock valued at $7,647,890 in the last 90 days. 1.27% of the stock is currently owned by corporate insiders.

A number of hedge funds have recently made changes to their positions in CWK. Vulcan Value Partners LLC boosted its holdings in Cushman & Wakefield by 5.0% during the 3rd quarter. Vulcan Value Partners LLC now owns 12,413,478 shares of the company’s stock worth $231,015,000 after acquiring an additional 594,303 shares during the last quarter. BlackRock Inc. boosted its holdings in shares of Cushman & Wakefield by 5.4% in the 4th quarter. BlackRock Inc. now owns 9,390,468 shares of the company’s stock worth $208,844,000 after buying an additional 482,420 shares during the last quarter. Victory Capital Management Inc. boosted its holdings in shares of Cushman & Wakefield by 3.3% in the 1st quarter. Victory Capital Management Inc. now owns 5,159,200 shares of the company’s stock worth $105,815,000 after buying an additional 163,125 shares during the last quarter. Lakewood Capital Management LP boosted its holdings in shares of Cushman & Wakefield by 32.9% in the 4th quarter. Lakewood Capital Management LP now owns 4,857,028 shares of the company’s stock worth $108,020,000 after buying an additional 1,203,182 shares during the last quarter. Finally, Ranger Global Real Estate Advisors LLC boosted its holdings in shares of Cushman & Wakefield by 15.0% in the 3rd quarter. Ranger Global Real Estate Advisors LLC now owns 3,740,302 shares of the company’s stock worth $69,607,000 after buying an additional 487,887 shares during the last quarter. Institutional investors and hedge funds own 82.33% of the company’s stock.

About Cushman & Wakefield (Get Rating)

Cushman & Wakefield plc, together with its subsidiaries, provides commercial real estate services under the Cushman & Wakefield brand in the United States, Australia, the United Kingdom, and internationally. The company operates through Americas; Europe, Middle East, and Africa; and Asia Pacific segments.

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