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

Altus Group (TSE:AIF) had its target price dropped by research analysts at TD Securities from C$67.00 to C$55.00 in a research note issued to investors on Wednesday,BayStreet.CA reports. The firm currently has a “buy” rating on the stock. TD Securities’ price target indicates a potential upside of 19.18% from the company’s previous close.

AIF has been the subject of a number of other reports. National Bank Financial lowered shares of Altus Group from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 2nd. BMO Capital Markets reduced their price objective on Altus Group from C$61.00 to C$48.00 and set a “market perform” rating for the company in a research report on Friday, February 20th. Scotiabank decreased their price objective on Altus Group from C$63.00 to C$56.00 in a report on Monday, November 10th. Canadian Imperial Bank of Commerce raised their target price on Altus Group from C$54.00 to C$62.00 in a research report on Monday, November 24th. Finally, Royal Bank Of Canada cut their target price on Altus Group from C$56.00 to C$50.00 and set a “sector perform” rating on the stock in a research note on Friday, February 20th. Two equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of C$55.43.

Altus Group Price Performance

Shares of TSE AIF opened at C$46.15 on Wednesday. Altus Group has a 1-year low of C$36.97 and a 1-year high of C$63.07. The company has a debt-to-equity ratio of 55.91, a current ratio of 2.09 and a quick ratio of 1.30. The business’s fifty day moving average price is C$49.28 and its two-hundred day moving average price is C$54.58. The firm has a market capitalization of C$1.86 billion, a PE ratio of 5.16, a P/E/G ratio of 0.96 and a beta of 0.49.

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

Insider Buying and Selling

In other news, Director William Brennan purchased 1,146 shares of the firm’s stock in a transaction on Tuesday, December 23rd. The stock was purchased at an average cost of C$56.20 per share, with a total value of C$64,405.20. Following the purchase, the director owned 2,534,757 shares in the company, valued at C$142,453,343.40. This trade represents a 0.05% increase in their position. Insiders purchased a total of 4,846 shares of company stock worth $265,940 over the last quarter. 4.05% of the stock is owned by 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. A part of its revenue is also derived from the United States, Europe, and the Asia Pacific.