Altus Group (TSE:AIF) Downgraded to Sector Perform Rating by National Bankshares

Altus Group (TSE:AIF) was downgraded by equities researchers at National Bankshares from an “outperform” rating to a “sector perform” rating in a research note issued to investors on Friday,BayStreet.CA reports. They currently have a C$52.00 target price on the stock, down from their prior target price of C$74.00. National Bankshares’ target price indicates a potential upside of 10.22% from the company’s current price.

Several other research analysts have also recently commented on the stock. CIBC reduced their target price on shares of Altus Group from C$63.00 to C$54.00 and set a “neutral” rating for the company in a report on Friday. TD Securities cut their price target on shares of Altus Group from C$70.00 to C$67.00 and set a “buy” rating on the stock in a research report on Friday. Royal Bank Of Canada decreased their price objective on Altus Group from C$58.00 to C$56.00 and set a “sector perform” rating for the company in a report on Friday. National Bank Financial upgraded Altus Group from a “hold” rating to a “strong-buy” rating in a report on Tuesday, August 12th. Finally, Scotiabank increased their price target on Altus Group from C$52.00 to C$53.00 and gave the company a “sector perform” rating in a research report on Friday, August 8th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of C$57.33.

Altus Group Stock Down 12.0%

Shares of TSE:AIF traded down C$6.45 during mid-day trading on Friday, reaching C$47.18. 1,309,457 shares of the stock were exchanged, compared to its average volume of 143,274. The stock’s 50 day simple moving average is C$59.03 and its 200-day simple moving average is C$56.21. Altus Group has a one year low of C$43.84 and a one year high of C$63.07. The company has a market cap of C$2.03 billion, a P/E ratio of 5.40, a P/E/G 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.

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.