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

Altus Group (TSE:AIF) had its price objective decreased by equities researchers at BMO Capital Markets from C$61.00 to C$48.00 in a research report issued to clients and investors on Friday,BayStreet.CA reports. The brokerage currently has a “market perform” rating on the stock. BMO Capital Markets’ price objective suggests a potential upside of 12.02% from the company’s previous close.

Several other research firms also recently weighed in on AIF. National Bank Financial downgraded Altus Group from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 2nd. Cormark raised shares of Altus Group from a “hold” rating to a “buy” rating and upped their price objective for the company from C$61.00 to C$65.00 in a research note on Friday, November 21st. Scotiabank cut their price objective on shares of Altus Group from C$63.00 to C$56.00 in a report on Monday, November 10th. Royal Bank Of Canada lowered their target price on shares of Altus Group from C$56.00 to C$50.00 and set a “sector perform” rating for the company in a report on Friday. Finally, Canadian Imperial Bank of Commerce upped their price target on shares of Altus Group from C$54.00 to C$62.00 in a research report on Monday, November 24th. Two analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of C$57.14.

Altus Group Stock Performance

Shares of AIF opened at C$42.85 on Friday. Altus Group has a 1 year low of C$36.97 and a 1 year high of C$63.07. The company’s 50 day simple moving average is C$50.12 and its 200 day simple moving average is C$54.86. The company has a market capitalization of C$1.73 billion, a price-to-earnings ratio of 4.79, a PEG ratio of 0.96 and a beta of 0.49. The company has a debt-to-equity ratio of 55.91, a quick ratio of 1.30 and a current ratio of 2.09.

Altus Group (TSE:AIF) last issued its quarterly earnings results on Thursday, February 19th. The company reported C$0.67 earnings per share for the quarter. Altus Group had a return on equity of 0.43% and a net margin of 0.36%.The company had revenue of C$108.96 million for the quarter. On average, sell-side analysts predict that Altus Group will post 1.7263823 EPS for the current year.

Insider Buying and Selling at Altus Group

In other news, Director William Brennan sold 93,975 shares of the business’s stock in a transaction dated 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 owned 2,364,956 shares in the company, valued at approximately C$127,683,974.44. The trade was a 3.82% decrease in their position. Over the last quarter, insiders bought 142,116 shares of company stock valued at $7,683,423. 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. A part of its revenue is also derived from the United States, Europe, and the Asia Pacific.