CBRE Group, Inc. (CBG) was a big mover last session, as the company saw its shares rise more than 6% on the day. The upside came after the company announced its decision to acquire Johnson Controls Inc.’s (JCI) workplace solutions business for $1.48 billion. The news led to far more shares changing hands than in a normal session breaking the recent trend of the company, as the stock is now trading above the volatile price range of $34.12 to $36.79 over the past one-month time frame.
The stock has witnessed one upward estimate revision in the past 30 days. The Zacks Consensus Estimate has also moved up over the same time frame, suggesting that more solid trading could be ahead for CBRE Group. So make sure to keep an eye on this stock going forward to see if the latest jump can turn into more strength down the road.
CBRE Group carries a Zacks Rank #2 (Buy), while its Earnings ESP is 0.00%.
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