Altus Group (TSE:AIF) Stock Price Target Raised at National Bank Financial

Key Points

• National Bank Financial raised Altus Group’s price target to C$55.00 from C$50.00 while maintaining a “sector perform” rating, implying 12.08% upside from the prior close.
• Analyst sentiment remains mixed: three analysts rate the stock a Buy and four rate it a Hold, producing an overall “Hold” consensus and an average price target of C$56.26.
• Altus Group shares rose to C$49.07, while insiders purchased 63,208 shares worth approximately C$2.87 million over the past 90 days. The company reported C$112.67 million in quarterly revenue and C$0.53 in earnings per share.

Altus Group (TSE:AIF - Get Free Report) had its target price lifted by stock analysts at National Bank Financial from C$50.00 to C$55.00 in a report released on Wednesday, BayStreet reports. The brokerage presently has a "sector perform" rating on the stock. National Bank Financial's price objective indicates a potential upside of 12.08% from the company's previous close.

Other equities analysts have also issued reports about the company. ATB Cormark Capital Markets boosted their price target on Altus Group from C$56.00 to C$57.10 and gave the company an "outperform" rating in a research note on Friday, August 7th. BMO Capital Markets upped their price target on Altus Group from C$41.00 to C$50.00 and gave the company a "sector perform" rating in a report on Friday, August 7th. Three research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of C$56.26.

Altus Group Stock Performance

Shares of TSE:AIF traded up C$0.76 on Wednesday, hitting C$49.07. 77,495 shares of the company were exchanged, compared to its average volume of 196,770. The company's 50 day moving average price is C$46.48 and its two-hundred day moving average price is C$46.03. Altus Group has a one year low of C$36.97 and a one year high of C$59.03. The company has a debt-to-equity ratio of 83.44, a quick ratio of 1.30 and a current ratio of 1.09. The firm has a market capitalization of C$1.68 billion, a price-to-earnings ratio of -119.68, a PEG ratio of 0.96 and a beta of 0.40.

Altus Group (TSE:AIF - Get Free Report) last released its earnings results on Thursday, August 6th. The company reported C$0.53 earnings per share for the quarter. Altus Group had a negative net margin of 5.32% and a negative return on equity of 5.13%. The business had revenue of C$112.67 million during the quarter. Research analysts expect that Altus Group will post 1.73 earnings per share for the current year.

Insider Buying and Selling at Altus Group

In other Altus Group news, Director Michael Gordon purchased 5,000 shares of the stock in a transaction on Tuesday, September 22nd. The shares were purchased at an average price of C$44.36 per share, with a total value of C$221,800.00. Following the acquisition, the director directly owned 46,940 shares of the company's stock, valued at C$2,082,258.40. This represents a 11.92% increase in their position. Also, Director William Brennan purchased 15,265 shares of the stock in a transaction on Monday, August 17th. The stock was acquired at an average cost of C$45.53 per share, for a total transaction of C$695,015.45. Following the acquisition, the director directly owned 3,558,335 shares in the company, valued at approximately C$162,010,992.55. This trade represents a 0.43% increase in their ownership of the stock. Over the last ninety days, insiders purchased 63,208 shares of company stock valued at $2,865,356. 4.05% of the stock is owned by company insiders.

Altus Group Company Profile

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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