Altus Group (TSE:AIF) Rating Increased to Buy at Cormark

Altus Group (TSE:AIF) was upgraded by stock analysts at Cormark from a “market perform” rating to a “buy” rating in a note issued to investors on Friday,BayStreet.CA reports. The brokerage presently has a C$65.00 price objective on the stock, up from their previous price objective of C$61.00. Cormark’s price objective would suggest a potential upside of 19.07% from the company’s previous close.

Several other equities analysts have also recently weighed in on AIF. Scotiabank decreased their target price on shares of Altus Group from C$63.00 to C$56.00 in a research note on Monday, November 10th. National Bank Financial raised shares of Altus Group from a “hold” rating to a “strong-buy” rating in a report on Tuesday, August 12th. TD Securities lowered their price target on Altus Group from C$70.00 to C$67.00 and set a “buy” rating on the stock in a research report on Friday, November 7th. National Bankshares cut Altus Group from an “outperform” rating to a “sector perform” rating and cut their price objective for the company from C$74.00 to C$52.00 in a research report on Friday, November 7th. Finally, 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, November 7th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, Altus Group has an average rating of “Moderate Buy” and a consensus target price of C$58.14.

Altus Group Stock Up 4.0%

AIF traded up C$2.11 during trading hours on Friday, hitting C$54.59. 358,805 shares of the company’s stock were exchanged, compared to its average volume of 152,510. The company has a quick ratio of 1.30, a current ratio of 2.09 and a debt-to-equity ratio of 55.91. Altus Group has a 1-year low of C$43.84 and a 1-year high of C$63.07. The stock’s 50-day moving average is C$56.75 and its two-hundred day moving average is C$56.17. The stock has a market cap of C$2.36 billion, a price-to-earnings ratio of 6.11, a PEG ratio of 0.96 and a beta of 0.68.

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

Insider Activity at Altus Group

In other news, Director Michael Gordon acquired 10,290 shares of the stock in a transaction on Tuesday, November 11th. The stock was acquired at an average cost of C$50.15 per share, for a total transaction of C$516,043.50. Following the completion of the transaction, the director directly owned 16,290 shares in the company, valued at approximately C$816,943.50. This trade represents a 171.50% increase in their ownership of the stock. Also, Director William Brennan acquired 4,119 shares of the company’s stock in a transaction that occurred on Tuesday, November 11th. The shares were acquired 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 owned 2,036,564 shares in the company, valued at C$99,486,151.40. The trade was a 0.20% increase in their ownership of the stock. Insiders have purchased a total of 35,819 shares of company stock worth $1,784,067 in the last quarter. 4.05% of the stock is currently 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.