Altus Group (TSE:AIF) Price Target Raised to C$56.00

Altus Group (TSE:AIF) had its price objective hoisted by Royal Bank of Canada from C$55.00 to C$56.00 in a research note issued on Friday,BayStreet.CA reports. Royal Bank of Canada’s target price indicates a potential downside of 0.27% from the company’s previous close.

A number of other research analysts also recently weighed in on the company. Scotiabank lowered their price target on Altus Group from C$59.00 to C$51.00 and set a “sector perform” rating on the stock in a report on Friday, August 9th. BMO Capital Markets lowered their target price on Altus Group from C$59.00 to C$55.00 in a research note on Friday, August 9th. TD Securities lowered their price target on Altus Group from C$65.00 to C$63.00 and set a “buy” rating for the company in a research note on Friday, August 9th. Cormark reduced their target price on shares of Altus Group from C$63.00 to C$56.00 and set a “hold” rating for the company in a research note on Friday, August 9th. Finally, National Bankshares upped their target price on Altus Group from C$50.00 to C$55.00 in a research note on Thursday, September 19th. Seven equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of C$56.22.

Altus Group Trading Up 3.8 %

Shares of TSE:AIF traded up C$2.03 during midday trading on Friday, reaching C$56.15. The company had a trading volume of 246,185 shares, compared to its average volume of 71,222. The company has a fifty day simple moving average of C$53.97 and a two-hundred day simple moving average of C$52.09. The firm has a market cap of C$2.59 billion, a price-to-earnings ratio of 935.83, a price-to-earnings-growth ratio of 0.96 and a beta of 0.82. Altus Group has a 1-year low of C$35.29 and a 1-year high of C$59.60. The company has a debt-to-equity ratio of 57.13, a quick ratio of 1.30 and a current ratio of 1.41.

Altus Group (TSE:AIF) last issued its quarterly earnings results on Thursday, August 8th. The company reported C$0.45 EPS for the quarter, beating the consensus estimate of C$0.22 by C$0.23. Altus Group had a net margin of 0.37% and a return on equity of 0.48%. The business had revenue of C$206.71 million during the quarter, compared to the consensus estimate of C$132.50 million. Research analysts predict that Altus Group will post 1.7263823 earnings per share for the current year.

Insiders Place Their Bets

In other Altus Group news, Director William Brennan sold 18,551 shares of the business’s stock in a transaction dated Thursday, September 26th. The stock was sold at an average price of C$55.32, for a total value of C$1,026,241.32. In other Altus Group news, Senior Officer Kimberly Carter sold 1,100 shares of the firm’s stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of C$54.00, for a total value of C$59,400.00. Also, Director William Brennan sold 18,551 shares of the business’s stock in a transaction on Thursday, September 26th. The stock was sold at an average price of C$55.32, for a total value of C$1,026,241.32. Company insiders own 4.05% of the company’s stock.

Altus Group Company Profile

Altus Group Limited provides asset and funds intelligence solutions for commercial real estate (CRE). The company operates through Analytics, Property Tax, and Appraisals and Development Advisory segments. The Analytics segment portfolio includes software, data analytics, market data, and consulting services; CRE asset and fund management services; ARGUS-branded, finance active-branded debt management, and valuation management solutions; technology consulting services, such as strategic advisory for front-to-back-office strategies, processes, and technology; and software services related to education, training, and implementation.