Altus Group (TSE:AIF) Price Target Raised to C$70.00

Thursday, July 22, 2021 | MarketBeat

Altus Group (TSE:AIF) had its price objective upped by equities researchers at National Bank Financial to C$70.00 in a research note issued on Thursday, Stock Target Advisor reports. The firm currently has an "outperform" rating on the stock. National Bank Financial's price target suggests a potential upside of 21.46% from the stock's previous close.

A number of other equities analysts have also recently issued reports on AIF. TD Securities boosted their price objective on Altus Group from C$62.00 to C$68.00 and gave the company a "buy" rating in a report on Friday, May 7th. Scotiabank boosted their price objective on Altus Group from C$57.00 to C$58.00 in a report on Friday, May 7th. Royal Bank of Canada boosted their price objective on Altus Group from C$62.00 to C$68.00 and gave the company an "outperform" rating in a report on Friday, May 7th. BMO Capital Markets restated a "na" rating and set a C$63.00 price objective (down previously from C$66.00) on shares of Altus Group in a report on Friday, May 7th. Finally, National Bankshares upped their target price on Altus Group from C$57.82 to C$70.00 and gave the stock an "outperform" rating in a report on Thursday. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the company's stock. Altus Group has a consensus rating of "Buy" and an average price target of C$58.25.

Shares of TSE AIF traded down C$0.19 during trading hours on Thursday, hitting C$57.63. 74,492 shares of the company traded hands, compared to its average volume of 97,962. The company has a market capitalization of C$2.39 billion and a PE ratio of 85.52. The company has a quick ratio of 1.95, a current ratio of 1.99 and a debt-to-equity ratio of 51.14. The firm's 50 day moving average is C$58.03. Altus Group has a 12 month low of C$40.07 and a 12 month high of C$64.89.

Altus Group (TSE:AIF) last released its earnings results on Thursday, May 6th. The company reported C$0.34 earnings per share for the quarter, beating the Thomson Reuters' consensus estimate of C$0.33 by C$0.01. The company had revenue of C$137.16 million for the quarter, compared to the consensus estimate of C$141.30 million. Sell-side analysts forecast that Altus Group will post 2.2165061 EPS for the current fiscal year.

In related news, Senior Officer Colin Boyd Johnston sold 7,480 shares of the company's stock in a transaction dated Wednesday, May 12th. The stock was sold at an average price of C$56.15, for a total transaction of C$420,002.00. Following the transaction, the insider now directly owns 42,824 shares of the company's stock, valued at approximately C$2,404,567.60.

About Altus Group

Altus Group Limited provides software, data solutions, and independent advisory services to the commercial real estate (CRE) industry in Canada, the United States, Europe, and the Asia Pacific. It operates through Altus Analytics and Commercial Real Estate Consulting (CRE Consulting) segments. The Altus Analytics segment offers ARGUS Enterprise (AE) software for CRE valuation and portfolio management; ARGUS Developer and ARGUS EstateMaster software for development feasibility analysis; ARGUS API, an application programming interface; ARGUS Voyanta, a cloud-based data management solution; ARGUS Taliance, a cloud-based fund solution for alternative investment firms; and ARGUS Acquire, a cloud-based deal management solution for CRE acquisitions.

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