CIBC Cuts Altus Group (TSE:AIF) Price Target to C$52.00

Altus Group (TSE:AIF) had its price objective dropped by stock analysts at CIBC from C$53.00 to C$52.00 in a report issued on Friday,BayStreet.CA reports. CIBC’s price target suggests a potential downside of 7.39% from the stock’s current price.

Other analysts also recently issued research reports about the stock. Royal Bank of Canada upped their price target on shares of Altus Group from C$55.00 to C$56.00 in a research report on Friday. Scotiabank decreased their price objective on Altus Group from C$59.00 to C$51.00 and set a “sector perform” rating for the company in a research report on Friday, August 9th. BMO Capital Markets dropped their target price on Altus Group from C$59.00 to C$55.00 in a report on Friday, August 9th. TD Securities decreased their price target on Altus Group from C$65.00 to C$63.00 and set a “buy” rating for the company in a report on Friday, August 9th. Finally, National Bankshares raised their target price on shares of 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 stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of C$56.22.

Altus Group Stock Up 3.8 %

Altus Group stock traded up C$2.03 during mid-day trading on Friday, reaching C$56.15. 246,185 shares of the company’s stock were exchanged, compared to its average volume of 71,222. The company has a fifty day moving average of C$53.97 and a 200-day moving average of C$52.09. The company has a market cap of C$2.59 billion, a P/E ratio of 935.83, a P/E/G ratio of 0.96 and a beta of 0.82. The company has a quick ratio of 1.30, a current ratio of 1.41 and a debt-to-equity ratio of 57.13. Altus Group has a twelve month low of C$35.29 and a twelve month high of C$59.60.

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

Insider Activity at Altus Group

In related news, Director William Brennan bought 500 shares of the stock in a transaction dated Tuesday, September 24th. The stock was bought at an average cost of C$54.48 per share, with a total value of C$27,240.00. In related news, Senior Officer Kimberly Carter sold 1,100 shares of the stock in a transaction dated Tuesday, August 20th. The shares were sold at an average price of C$54.00, for a total transaction of C$59,400.00. Also, Director William Brennan acquired 500 shares of the firm’s stock in a transaction on Tuesday, September 24th. The shares were purchased at an average cost of C$54.48 per share, for a total transaction of C$27,240.00. Insiders own 4.05% of the company’s stock.

About Altus Group

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.