CIBC Lowers Altus Group (TSE:AIF) Price Target to C$57.00

Altus Group (TSE:AIF) had its price target cut by investment analysts at CIBC from C$60.00 to C$57.00 in a note issued to investors on Friday,BayStreet.CA reports. CIBC’s price target points to a potential upside of 3.64% from the company’s previous close.

Separately, Royal Bank of Canada increased their target price on Altus Group from C$56.00 to C$62.00 in a report on Friday. Five analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of C$57.44.

Altus Group Stock Down 1.5 %

AIF stock opened at C$55.00 on Friday. Altus Group has a fifty-two week low of C$45.98 and a fifty-two week high of C$61.09. The business’s 50-day moving average is C$56.83 and its two-hundred day moving average is C$55.75. The company has a debt-to-equity ratio of 55.91, a quick ratio of 1.30 and a current ratio of 2.09. The company has a market cap of C$2.56 billion, a price-to-earnings ratio of 962.40, a P/E/G ratio of 0.96 and a beta of 0.82.

Insiders Place Their Bets

In related news, Director William Brennan purchased 1,227 shares of Altus Group stock in a transaction on Tuesday, December 17th. The stock was acquired at an average price of C$56.43 per share, for a total transaction of C$69,239.61. Insiders purchased a total of 9,027 shares of company stock worth $515,312 over the last quarter. 4.05% of the stock is currently owned by corporate insiders.

About Altus Group

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.