BMO Capital Markets Has Lowered Expectations for Altus Group (TSE:AIF) Stock Price

Altus Group (TSE:AIF) had its price objective reduced by equities researchers at BMO Capital Markets from C$61.00 to C$48.00 in a research note issued to investors on Friday,BayStreet.CA reports. The firm presently has a “market perform” rating on the stock. BMO Capital Markets’ target price would suggest a potential upside of 11.84% from the stock’s current price.

Other equities analysts have also recently issued research reports about the stock. TD Securities lowered their target price on shares of Altus Group from C$70.00 to C$67.00 and set a “buy” rating on the stock in a research note on Friday, November 7th. Canadian Imperial Bank of Commerce raised their target price on Altus Group from C$54.00 to C$62.00 in a report on Monday, November 24th. National Bank Financial lowered Altus Group from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 2nd. Cormark raised shares of Altus Group from a “hold” rating to a “buy” rating and boosted their price target for the company from C$61.00 to C$65.00 in a report on Friday, November 21st. Finally, Scotiabank dropped their price objective on shares of Altus Group from C$63.00 to C$56.00 in a report on Monday, November 10th. Two analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, Altus Group currently has an average rating of “Hold” and a consensus price target of C$57.14.

Altus Group Trading Up 4.4%

AIF stock traded up C$1.82 during midday trading on Friday, reaching C$42.92. 173,705 shares of the company’s stock traded hands, compared to its average volume of 257,261. The company has a debt-to-equity ratio of 55.91, a current ratio of 2.09 and a quick ratio of 1.30. Altus Group has a fifty-two week low of C$36.97 and a fifty-two week high of C$63.07. The business has a 50-day moving average price of C$50.36 and a two-hundred day moving average price of C$54.98. The company has a market capitalization of C$1.73 billion, a P/E ratio of 4.80, a PEG ratio of 0.96 and a beta of 0.49.

Altus Group (TSE:AIF) last released its quarterly earnings results on Thursday, February 19th. The company reported C$0.67 earnings per share for the quarter. Altus Group had a net margin of 0.36% and a return on equity of 0.43%. The business had revenue of C$108.96 million during the quarter. Equities research analysts forecast that Altus Group will post 1.7263823 EPS for the current fiscal year.

Insider Activity

In related news, Director William Brennan sold 93,975 shares of Altus Group stock in a transaction on Wednesday, November 26th. The stock was sold at an average price of C$53.99, for a total transaction of C$5,073,710.25. Following the completion of the sale, the director directly owned 2,364,956 shares of the company’s stock, valued at C$127,683,974.44. The trade was a 3.82% decrease in their ownership of the stock. In the last 90 days, insiders acquired 142,116 shares of company stock valued at $7,683,423. 4.05% of the stock is owned by company insiders.

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. A part of its revenue is also derived from the United States, Europe, and the Asia Pacific.