CIBC Issues Pessimistic Forecast for Altus Group (TSE:AIF) Stock Price

Altus Group (TSE:AIF) had its price target reduced by stock analysts at CIBC from C$63.00 to C$54.00 in a report released on Friday,BayStreet.CA reports. The brokerage presently has a “neutral” rating on the stock. CIBC’s price target points to a potential upside of 14.46% from the company’s previous close.

Other research analysts have also recently issued reports about the stock. Scotiabank boosted their price objective on shares of Altus Group from C$52.00 to C$53.00 and gave the company a “sector perform” rating in a report on Friday, August 8th. National Bankshares raised shares of Altus Group from a “sector perform” rating to an “outperform” rating and lifted their target price for the stock from C$60.00 to C$74.00 in a research report on Wednesday, August 13th. National Bank Financial raised Altus Group from a “hold” rating to a “strong-buy” rating in a report on Tuesday, August 12th. Royal Bank Of Canada dropped their price target on Altus Group from C$58.00 to C$56.00 and set a “sector perform” rating on the stock in a research note on Friday. Finally, TD Securities upped their price objective on Altus Group from C$63.00 to C$70.00 and gave the company a “buy” rating in a research report on Friday, October 3rd. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, Altus Group currently has a consensus rating of “Moderate Buy” and an average target price of C$57.33.

Altus Group Stock Performance

TSE:AIF traded down C$6.45 during mid-day trading on Friday, reaching C$47.18. The company’s stock had a trading volume of 1,309,457 shares, compared to its average volume of 143,274. The company has a current ratio of 2.09, a quick ratio of 1.30 and a debt-to-equity ratio of 55.91. The stock has a market cap of C$2.03 billion, a P/E ratio of 5.40, a PEG ratio of 0.96 and a beta of 0.68. The firm’s fifty day moving average price is C$59.03 and its two-hundred day moving average price is C$56.21. Altus Group has a 12-month low of C$43.84 and a 12-month high of C$63.07.

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.