Altus Group (TSE:AIF) Price Target Raised to C$50.00 at BMO Capital Markets

Key Points

• BMO Capital Markets raised Altus Group’s price target from C$41.00 to C$50.00 while maintaining a “sector perform” rating, implying 3.81% downside from the prior close.
• Analyst sentiment remains mixed: ATB Cormark raised its target to C$58.00 with an “outperform” rating, while the consensus rating is “Hold” with an average target of C$55.64.
• Altus Group shares climbed C$6.41 to C$51.98 in Friday trading. Director William Brennan and other insiders have purchased 190,392 shares worth about C$8.05 million over the past 90 days.

Altus Group (TSE:AIF - Get Free Report) had its price objective lifted by equities researchers at BMO Capital Markets from C$41.00 to C$50.00 in a report released on Friday,BayStreet.CA reports. The brokerage currently has a "sector perform" rating on the stock. BMO Capital Markets' price target points to a potential downside of 3.81% from the company's previous close.

Several other brokerages have also issued reports on AIF. ATB Cormark Capital Markets boosted their price target on shares of Altus Group from C$54.00 to C$58.00 and gave the company an "outperform" rating in a report on Friday, April 17th. National Bank Financial raised their price objective on shares of Altus Group from C$41.00 to C$50.00 and gave the stock a "sector perform" rating in a report on Friday. Three analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Altus Group presently has an average rating of "Hold" and an average price target of C$55.64.

Altus Group Stock Performance

Shares of TSE:AIF traded up C$6.41 during trading on Friday, hitting C$51.98. 253,085 shares of the stock were exchanged, compared to its average volume of 220,389. Altus Group has a 1-year low of C$36.97 and a 1-year high of C$63.07. The company has a market capitalization of C$1.86 billion, a price-to-earnings ratio of -2,599.00, a price-to-earnings-growth ratio of 0.96 and a beta of 0.29. The company's fifty day simple moving average is C$45.58 and its 200-day simple moving average is C$45.52. The company has a debt-to-equity ratio of 52.00, a quick ratio of 1.30 and a current ratio of 0.71.

Altus Group (TSE:AIF - Get Free Report) last issued its earnings results on Thursday, August 6th. The company reported C$0.53 EPS for the quarter. The business had revenue of C$112.67 million during the quarter. Altus Group had a negative return on equity of 2.76% and a negative net margin of 3.42%. Sell-side analysts expect that Altus Group will post 1.7263823 EPS for the current fiscal year.

Insider Activity at Altus Group

In other news, Director William Brennan bought 2,000 shares of Altus Group stock in a transaction dated Thursday, May 28th. The shares were bought at an average price of C$42.90 per share, for a total transaction of C$85,800.00. Following the purchase, the director owned 3,529,831 shares of the company's stock, valued at approximately C$151,429,749.90. This trade represents a 0.06% increase in their ownership of the stock. In the last 90 days, insiders have acquired 190,392 shares of company stock valued at $8,052,187. 4.05% of the stock is currently owned by insiders.

About Altus Group

Altus Group Ltd operates in the Canadian real estate sector. Its services can be summed up as advisory services, software and data solutions to the property and real estate industry. The company has three reportable segments namely Altus Analytics, Commercial Real Estate Consulting, and Geomatics. It generates maximum revenue from the Commercial Real Estate Consulting segment. A part of its revenue is also derived from the United States, Europe, and the Asia Pacific.

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