Cormark Upgrades Altus Group (TSE:AIF) to Buy

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 target price would indicate a potential upside of 19.07% from the company’s current price.

Several other brokerages have also recently weighed in on AIF. Royal Bank Of Canada decreased their price objective on shares of 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. TD Securities reduced their price objective on 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. Scotiabank lowered their price objective on shares of Altus Group from C$63.00 to C$56.00 in a research report on Monday, November 10th. National Bankshares cut shares of Altus Group from an “outperform” rating to a “sector perform” rating and dropped their price objective for the stock from C$74.00 to C$52.00 in a research report on Friday, November 7th. Finally, CIBC lowered their target price on Altus Group from C$63.00 to C$54.00 and set a “neutral” rating for the company in a research note on Friday, November 7th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of C$58.14.

Altus Group Stock Performance

AIF stock traded up C$2.11 during midday trading on Friday, hitting C$54.59. 358,805 shares of the company traded hands, compared to its average volume of 152,510. Altus Group has a twelve month low of C$43.84 and a twelve month high of C$63.07. The stock has a market capitalization of C$2.36 billion, a price-to-earnings ratio of 6.11, a price-to-earnings-growth ratio of 0.96 and a beta of 0.68. The company has a quick ratio of 1.30, a current ratio of 2.09 and a debt-to-equity ratio of 55.91. The business has a 50 day simple moving average of C$56.75 and a 200-day simple moving average of C$56.17.

Altus Group (TSE:AIF) last posted its quarterly earnings data on Thursday, November 6th. The company reported C$0.01 earnings per share (EPS) 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$133.32 million during the quarter. As a group, equities research analysts predict that Altus Group will post 1.7263823 earnings per share for the current year.

Insiders Place Their Bets

In other Altus Group news, Director Michael Gordon bought 10,290 shares of the stock in a transaction that occurred on Tuesday, November 11th. The stock was acquired at an average cost of C$50.15 per share, with a total value of C$516,043.50. Following the purchase, the director owned 16,290 shares in the company, valued at C$816,943.50. This trade represents a 171.50% increase in their ownership of the stock. Also, Director William Brennan purchased 12,207 shares of the business’s stock in a transaction on Tuesday, November 11th. The stock was bought at an average cost of C$49.95 per share, for a total transaction of C$609,739.65. Following the purchase, the director owned 2,051,152 shares of the company’s stock, valued at approximately C$102,455,042.40. This represents a 0.60% increase in their position. Over the last three months, insiders have bought 35,819 shares of company stock worth $1,784,067. Insiders own 4.05% of the company’s stock.

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.