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

Altus Group (TSE:AIF) had its price objective increased by CIBC from C$54.00 to C$62.00 in a report released on Monday,BayStreet.CA reports. CIBC’s price objective indicates a potential upside of 13.93% from the stock’s previous close.

AIF has been the subject of several other reports. Scotiabank lowered their target price on Altus Group from C$63.00 to C$56.00 in a research note on Monday, November 10th. National Bankshares cut Altus Group from an “outperform” rating to a “sector perform” rating and decreased their price target for the company from C$74.00 to C$52.00 in a report on Friday, November 7th. TD Securities lowered their price objective on Altus Group from C$70.00 to C$67.00 and set a “buy” rating for the company in a research report on Friday, November 7th. National Bank Financial raised Altus Group from a “hold” rating to a “strong-buy” rating in a report on Tuesday, August 12th. Finally, Royal Bank Of Canada cut their target price on shares of Altus Group from C$58.00 to C$56.00 and set a “sector perform” rating on the stock in a research report on Friday, November 7th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of C$59.29.

Altus Group Price Performance

TSE AIF traded up C$0.32 on Monday, hitting C$54.42. 171,332 shares of the company were exchanged, compared to its average volume of 153,450. 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 company has a market cap of C$2.35 billion, a P/E ratio of 6.09, a P/E/G ratio of 0.96 and a beta of 0.68. Altus Group has a 1-year low of C$43.84 and a 1-year high of C$63.07. The firm has a 50 day moving average of C$56.63 and a two-hundred day moving average of C$56.25.

Altus Group (TSE:AIF) last announced its earnings results on Thursday, November 6th. The company reported C$0.01 earnings per share for the quarter. Altus Group had a net margin of 0.36% and a return on equity of 0.43%. The company had revenue of C$133.32 million during the quarter. On average, equities analysts predict that Altus Group will post 1.7263823 EPS for the current year.

Insider Activity

In other Altus Group news, Director William Brennan purchased 4,119 shares of the company’s stock in a transaction dated Tuesday, November 11th. The shares were bought at an average price of C$48.85 per share, with a total value of C$201,213.15. Following the completion of the transaction, the director directly owned 2,036,564 shares in the company, valued at C$99,486,151.40. This trade represents a 0.20% increase in their position. Also, Director Michael Gordon acquired 10,290 shares of the business’s stock in a transaction dated Tuesday, November 11th. The shares were acquired at an average price of C$50.15 per share, for a total transaction of C$516,043.50. Following the acquisition, the director directly owned 16,290 shares in the company, valued at C$816,943.50. This represents a 171.50% increase in their ownership of the stock. Insiders acquired 35,819 shares of company stock valued at $1,784,067 over the last 90 days. Corporate insiders own 4.05% of the company’s stock.

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.