ATB Cormark Capital Markets Forecasts Strong Price Appreciation for Altus Group (TSE:AIF) Stock

Key Points

• ATB Cormark raised its price target on Altus Group to C$58 (from C$54) and kept an "outperform" rating, implying about a 15.08% upside from the prior close.
• Analyst coverage is mixed: three Buy ratings and five Hold ratings give a consensus "Hold" with an average target of C$56.50.
• Altus reported strong quarterly results (C$0.67 EPS, C$108.96M revenue, high ROE and net margin) and currently trades around C$50.40 with a P/E of ~5.96 and a C$2.0B market cap.

Altus Group (TSE:AIF - Get Free Report) had its price objective increased by research analysts at ATB Cormark Capital Markets from C$54.00 to C$58.00 in a research note issued to investors on Friday,BayStreet.CA reports. The firm presently has an "outperform" rating on the stock. ATB Cormark Capital Markets' price target suggests a potential upside of 15.08% from the company's previous close.

A number of other research analysts have also weighed in on AIF. Royal Bank Of Canada decreased their price objective on Altus Group from C$56.00 to C$50.00 and set a "sector perform" rating on the stock in a report on Friday, February 20th. BMO Capital Markets raised their price objective on Altus Group from C$48.00 to C$54.00 in a report on Thursday. Finally, TD Securities cut their target price on Altus Group from C$67.00 to C$55.00 and set a "buy" rating for the company in a research note on Wednesday, February 25th. Three investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, Altus Group has a consensus rating of "Hold" and an average target price of C$56.50.

Altus Group Price Performance

AIF stock traded up C$0.55 during midday trading on Friday, reaching C$50.40. The stock had a trading volume of 210,323 shares, compared to its average volume of 261,017. The company's fifty day simple moving average is C$45.59 and its 200 day simple moving average is C$51.44. The company has a current ratio of 1.03, a quick ratio of 1.30 and a debt-to-equity ratio of 48.84. The company has a market cap of C$2.00 billion, a price-to-earnings ratio of 5.96, a price-to-earnings-growth ratio of 0.96 and a beta of 0.55. Altus Group has a 52-week low of C$36.97 and a 52-week high of C$63.07.

Altus Group (TSE:AIF - Get Free Report) last announced its quarterly earnings data on Thursday, February 19th. The company reported C$0.67 earnings per share for the quarter. The company had revenue of C$108.96 million for the quarter. Altus Group had a return on equity of 49.43% and a net margin of 69.98%. As a group, sell-side analysts predict that Altus Group will post 1.7263823 earnings per share for the current fiscal year.

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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