Zacks Investment Research Upgrades Cushman & Wakefield (NYSE:CWK) to “Hold”

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Zacks Investment Research upgraded shares of Cushman & Wakefield (NYSE:CWK) from a sell rating to a hold rating in a research report sent to investors on Monday morning, Zacks.com reports.

According to Zacks, “Cushman & Wakefield plc is a real estate services firm. The Company acquires and develops commercial properties as well as provides property leasing, facilities management, tenant representation and valuation services. Cushman & Wakefield plc is based in Chicago, United States. “

CWK has been the subject of a number of other research reports. Compass Point assumed coverage on shares of Cushman & Wakefield in a report on Wednesday, July 10th. They issued a neutral rating for the company. JPMorgan Chase & Co. increased their target price on shares of Cushman & Wakefield from $22.00 to $24.00 and gave the stock an overweight rating in a report on Thursday, September 12th. Finally, ValuEngine cut shares of Cushman & Wakefield from a buy rating to a hold rating in a report on Saturday, September 14th. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Cushman & Wakefield presently has a consensus rating of Buy and a consensus price target of $20.50.

CWK stock opened at $18.50 on Monday. The stock has a market capitalization of $4.03 billion and a P/E ratio of 64.00. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 2.42. Cushman & Wakefield has a 12 month low of $13.25 and a 12 month high of $20.62. The firm has a 50-day moving average price of $17.61 and a 200-day moving average price of $18.12.

Cushman & Wakefield (NYSE:CWK) last posted its earnings results on Thursday, August 1st. The company reported $0.39 EPS for the quarter, hitting analysts’ consensus estimates of $0.39. The firm had revenue of $2.10 billion during the quarter, compared to analysts’ expectations of $2.14 billion. Cushman & Wakefield had a negative net margin of 0.96% and a positive return on equity of 4.21%. The business’s revenue for the quarter was up 6.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.46 earnings per share. As a group, equities analysts predict that Cushman & Wakefield will post 0.56 EPS for the current fiscal year.

In related news, insider W Brett White sold 44,675 shares of the firm’s stock in a transaction that occurred on Tuesday, July 2nd. The shares were sold at an average price of $18.00, for a total value of $804,150.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Duncan Palmer sold 3,599 shares of the firm’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $18.82, for a total transaction of $67,733.18. 0.85% of the stock is owned by company insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Hancock Whitney Corp bought a new position in Cushman & Wakefield in the 2nd quarter valued at approximately $551,000. Royal Bank of Canada raised its holdings in Cushman & Wakefield by 27.6% in the 2nd quarter. Royal Bank of Canada now owns 2,900 shares of the company’s stock valued at $52,000 after buying an additional 627 shares during the last quarter. Voleon Capital Management LP bought a new position in Cushman & Wakefield in the 2nd quarter valued at approximately $751,000. Nuveen Asset Management LLC bought a new position in Cushman & Wakefield in the 2nd quarter valued at approximately $16,279,000. Finally, D. E. Shaw & Co. Inc. raised its holdings in Cushman & Wakefield by 46.6% in the 2nd quarter. D. E. Shaw & Co. Inc. now owns 147,036 shares of the company’s stock valued at $2,629,000 after buying an additional 46,711 shares during the last quarter. Institutional investors and hedge funds own 44.70% of the company’s stock.

Cushman & Wakefield Company Profile

Cushman & Wakefield plc provides commercial real estate services under the Cushman & Wakefield brand in the Americas, the Asia Pacific, Europe, the Middle East, and Africa. It offers integrated facilities management, project and development, portfolio administration, transaction management, and strategic consulting services; property management services, including client accounting, engineering and operations, lease compliance administration, project and development, and sustainability services; and janitorial, maintenance, critical environment management, landscaping, and office services.

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