Altus Group (TSE:AIF) Stock Price Expected to Rise, ATB Cormark Capital Markets Analyst Says

Key Points

• ATB Cormark raised Altus Group’s price target to C$57.10 from C$56.00 and maintained an “outperform” rating, implying 9.85% upside from the current price.
• Other analysts also increased their targets to C$50.00, but the overall consensus remains “Hold”, with a consensus price target of C$55.64.
• Altus Group shares rose 14.1% to C$51.98, while insider buying continued: directors and other insiders purchased 190,392 shares worth about $8.05 million over the past 90 days.

Altus Group (TSE:AIF - Get Free Report) had its target price upped by stock analysts at ATB Cormark Capital Markets from C$56.00 to C$57.10 in a research note issued on Friday,BayStreet.CA reports. The firm currently has an "outperform" rating on the stock. ATB Cormark Capital Markets' price target suggests a potential upside of 9.85% from the company's current price.

AIF has been the topic of several other reports. BMO Capital Markets lifted their price target on shares of Altus Group from C$41.00 to C$50.00 and gave the stock a "sector perform" rating in a research note on Friday. National Bank Financial raised their price objective on 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 company. Based on data from MarketBeat, Altus Group presently has an average rating of "Hold" and a consensus price target of C$55.64.

Altus Group Stock Up 14.1%

AIF traded up C$6.41 on Friday, reaching C$51.98. The company's stock had a trading volume of 253,085 shares, compared to its average volume of 220,389. The company has a market capitalization of C$1.86 billion, a price-to-earnings ratio of -2,599.00, a P/E/G ratio of 0.96 and a beta of 0.29. Altus Group has a fifty-two week low of C$36.97 and a fifty-two week high of C$63.07. The company has a quick ratio of 1.30, a current ratio of 0.71 and a debt-to-equity ratio of 52.00. The stock has a 50 day moving average of C$45.58 and a two-hundred day moving average of C$45.52.

Altus Group (TSE:AIF - Get Free Report) last released its quarterly earnings data on Thursday, August 6th. The company reported C$0.53 earnings per share for the quarter. The company had revenue of C$112.67 million for the quarter. Altus Group had a negative net margin of 3.42% and a negative return on equity of 2.76%. As a group, analysts forecast that Altus Group will post 1.7263823 EPS for the current fiscal year.

Insider Transactions at Altus Group

In related news, Director William Brennan acquired 106,515 shares of Altus Group stock in a transaction on Tuesday, May 19th. The stock was purchased at an average cost of C$42.80 per share, with a total value of C$4,558,842.00. Following the purchase, the director directly owned 3,479,874 shares in the company, valued at approximately C$148,938,607.20. The trade was a 3.16% increase in their ownership of the stock. In the last 90 days, insiders bought 190,392 shares of company stock valued at $8,052,187. Insiders own 4.05% of the company's stock.

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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