Cushman & Wakefield (NYSE:CWK) Trading 5.6% Higher – Here’s What Happened

Cushman & Wakefield plc (NYSE:CWK)’s stock price shot up 5.6% during mid-day trading on Monday . The company traded as high as $14.05 and last traded at $14.26. 125,146 shares were traded during trading, a decline of 91% from the average session volume of 1,322,555 shares. The stock had previously closed at $13.51.

Analysts Set New Price Targets

A number of analysts recently commented on the company. JPMorgan Chase & Co. raised their price target on Cushman & Wakefield from $14.00 to $17.00 and gave the stock a “neutral” rating in a research note on Monday, December 16th. The Goldman Sachs Group began coverage on shares of Cushman & Wakefield in a research report on Friday, December 6th. They set a “sell” rating and a $15.00 price target on the stock. Finally, Jefferies Financial Group lowered shares of Cushman & Wakefield from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $18.00 to $14.00 in a report on Thursday, January 2nd. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $15.50.

Cushman & Wakefield Trading Up 2.4 %

The stock’s fifty day moving average price is $13.81 and its 200 day moving average price is $13.34. The stock has a market cap of $3.17 billion, a P/E ratio of 37.39 and a beta of 1.34. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 1.76.

Cushman & Wakefield (NYSE:CWK) last released its earnings results on Monday, November 4th. The company reported $0.23 EPS for the quarter, topping analysts’ consensus estimates of $0.21 by $0.02. The firm had revenue of $2.34 billion for the quarter, compared to analysts’ expectations of $1.61 billion. Cushman & Wakefield had a return on equity of 12.10% and a net margin of 0.94%. The company’s quarterly revenue was up 2.5% on a year-over-year basis. During the same period in the prior year, the firm posted $0.21 earnings per share. Equities research analysts expect that Cushman & Wakefield plc will post 0.91 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Geode Capital Management LLC increased its holdings in Cushman & Wakefield by 7.5% in the 3rd quarter. Geode Capital Management LLC now owns 5,696,370 shares of the company’s stock worth $77,656,000 after buying an additional 395,652 shares in the last quarter. Algert Global LLC grew its stake in shares of Cushman & Wakefield by 821.0% in the second quarter. Algert Global LLC now owns 698,944 shares of the company’s stock worth $7,269,000 after acquiring an additional 623,054 shares during the period. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in shares of Cushman & Wakefield during the third quarter valued at approximately $4,942,000. State Street Corp lifted its position in Cushman & Wakefield by 9.8% during the third quarter. State Street Corp now owns 8,463,595 shares of the company’s stock valued at $115,359,000 after purchasing an additional 756,966 shares during the period. Finally, Walleye Capital LLC purchased a new stake in Cushman & Wakefield in the third quarter worth approximately $150,000. Hedge funds and other institutional investors own 95.56% of the company’s stock.

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.