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

Altus Group (TSE:AIF) had its target price lowered by investment analysts at CIBC from C$53.00 to C$52.00 in a research note issued on Friday,BayStreet.CA reports. CIBC’s price target would suggest a potential downside of 8.14% from the stock’s previous close.

A number of other research firms have also recently commented on AIF. BMO Capital Markets cut their target price on Altus Group from C$59.00 to C$55.00 in a research report on Friday, August 9th. Cormark reduced their price objective on 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. National Bankshares increased their price objective on Altus Group from C$50.00 to C$55.00 in a report on Thursday, September 19th. Scotiabank cut their target price on shares of 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. Finally, TD Securities lowered their price objective on shares of Altus Group from C$65.00 to C$63.00 and set a “buy” rating on the stock in a research report on Friday, August 9th. Seven investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, Altus Group currently has an average rating of “Hold” and an average price target of C$56.22.

Altus Group Stock Up 4.6 %

AIF stock opened at C$56.61 on Friday. The stock has a market cap of C$2.61 billion, a P/E ratio of 943.50, a PEG ratio of 0.96 and a beta of 0.82. The company has a current ratio of 1.41, a quick ratio of 1.30 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. The company’s 50 day moving average is C$54.02 and its two-hundred day moving average is C$52.12.

Altus Group (TSE:AIF) last announced its quarterly earnings results on Thursday, August 8th. The company reported C$0.45 EPS for the quarter, topping 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 firm had revenue of C$206.71 million for the quarter, compared to analyst estimates of C$132.50 million. Research analysts expect that Altus Group will post 1.7263823 earnings per share for the current fiscal year.

Insider Transactions at Altus Group

In other news, Senior Officer Kimberly Carter sold 1,100 shares of the stock in a transaction that occurred on Tuesday, August 20th. The stock was sold at an average price of C$54.00, for a total transaction of C$59,400.00. In other news, Senior Officer Kimberly Carter sold 1,100 shares of Altus Group stock in a transaction that occurred on 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 sold 18,551 shares of the company’s stock in a transaction that occurred 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.