Altus Group Limited: Analyst Ratings and Stock Analysis

Altus Group Limited: Analyst Ratings and Stock Analysis
Altus Group Limited: (AIF:CA)

Date: July 10, 2024

Altus Group Limited has recently seen multiple updates to it’s analyst coverage, with updates to the stock’s valuation and ratings. Here’s a comprehensive look at the latest developments and a detailed analysis of Altus Group Limited’s stock.

Recent Ratings Updates

Canaccord Genuity:

  • Rating: Buy
  • Target Price: CAD 63
  • Date: July 10, 2024

Canaccord Genuity has maintained its bullish stance on Altus Group, reiterating a “Buy” rating with a target price of CAD 63. This suggests confidence in Altus Group’s growth potential.

STA Research:

  • Rating: Hold
  • Previous Target Price: CAD 50
  • Revised Target Price: CAD 55
  • Date: July 10, 2024

STA Research has upgraded its target price for Altus Group from CAD 50 to CAD 55 while maintaining a “Hold” rating. This revision indicates a modest increase in optimism tempered by some caution.

Cormark Securities:

  • Rating: Buy
  • Target Price: CAD 63
  • Date: July 10, 2024

Cormark Securities has also set a target price of CAD 63, aligning with Canaccord Genuity’s positive outlook on Altus Group.

TD Securities:

  • Rating: Buy
  • Target Price: CAD 65
  • Date: July 10, 2024

TD Securities has maintained its bullish stance with a target price of CAD 65, indicating strong confidence in Altus Group’s future performance.

BMO Capital Markets:

  • Target Price: CAD 59
  • Date: July 10, 2024

BMO Capital Markets has set a target price of CAD 59 for Altus Group, reflecting a moderate upside potential from the current price.

Scotia Capital:

  • Rating: Sector Perform
  • Target Price: CAD 59
  • Date: July 10, 2024

Scotia Capital maintains a neutral stance on Altus Group with a “Sector Perform” rating and a target price of CAD 59, suggesting it expects Altus Group to perform in line with its sector peers.

Eight Capital:

  • Target Price: CAD 55
  • Date: July 10, 2024

Eight Capital has revised its target price upward to CAD 55, indicating a positive sentiment with a modest upside potential.

CIBC World Markets:

  • Rating: Neutral
  • Target Price: CAD 54
  • Date: July 10, 2024

CIBC World Markets maintains a neutral stance on Altus Group, setting a target price of CAD 54.

Analyst Consensus and Stock Performance

According to forecasts from 10 analysts, the average target price for Altus Group Limited over the next 12 months is CAD 53.54, with an average analyst rating of “Buy.” This indicates a generally positive outlook among analysts, albeit with some divergence in target prices.

Stock Target Advisor’s Analysis:

  • Overall Rating: Slightly Bearish
  • Positive Signals: 5
  • Negative Signals: 7

Stock Target Advisor’s analysis suggests a slightly bearish sentiment, with more negative signals than positive ones. Investors should consider both the positive attributes and cautionary factors before making investment decisions.

Recent Stock Performance

As of the last closing, Altus Group Limited’s stock price was CAD 55.46. Here is a summary of its recent performance:

  • Past Week: +8.07%
  • Past Month: +19.14%
  • Past Year: +27.64%

Altus Group has demonstrated strong growth over various time frames, reflecting investor confidence and positive market sentiment.

Stock Analysis Highlights

Positive Fundamentals

  • Low Debt: Altus Group is less leveraged compared to its peers, providing greater financial flexibility.
  • Positive Cash Flow: The company has maintained positive total cash flow over the past four quarters.
  • Superior Return on Assets: Altus Group’s management has delivered better return on assets than its peers, indicating effective asset utilization.
  • Superior Earnings Growth: The stock has shown top quartile earnings growth in the previous five years compared to its sector.

Negative Fundamentals

  • Overpriced Compared to Book Value: Altus Group’s stock is trading high compared to its peers on a price to book value basis.
  • Below Median Total Returns: The company has underperformed its peers on annual average total returns over the past five years.
  • Low Market Capitalization: Altus Group is among the smaller entities in its sector, which may impact long-term stability without unique growth drivers.

Outlook

Altus Group Limited’s recent analyst ratings and stock analysis present a mixed but generally optimistic outlook. With several analysts maintaining “Buy” ratings and setting target prices above the current market price, there is a notable confidence in Altus Group’s future performance. However, investors should carefully consider the mixed signals from Stock Target Advisor’s analysis and the cautionary factors highlighted. Altus Group’s recent stock performance underscores its growth potential, but prudent evaluation of both positive and negative factors is advised before making investment decisions.

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