Altus Group Ltd Gaps Up; Strong Momentum for Buyers

 Altus Group Ltd Gaps Up; Strong Momentum for Buyers

The stock of Altus Group Ltd (TSE:AIF) gapped up by $0.23 today and has $45.78 target or 59.00% above today’s $28.79 share price. The 6 months technical chart setup indicates low risk for the $1.05B company. The gap was reported on Nov, 4 by Barchart.com. If the $45.78 price target is reached, the company will be worth $619.50M more.
Gaps up are useful for using as a support level and to some extent as a tradeable event. If investors already hold the stock and experience a price gap up, then its usually a good idea to hold the stock for a stronger up move. Back-tests of these patterns indicate that two-thirds of the times the stock performance improves after the gap. The area gaps close 89% of the time, the breakaway gaps, 2%, the continuation gaps 4% and the exhaustion gaps 61%. About 287,039 shares traded hands or 170.63% up from the average. Altus Group Ltd (TSE:AIF) has risen 34.62% since March 31, 2016 and is uptrending. It has outperformed by 33.53% the S&P500.

Altus Group Ltd (TSE:AIF) Ratings Coverage

Out of 2 analysts covering Altus Group (TSE:AIF), 2 rate it a “Buy”, 0 “Sell”, while 0 “Hold”. This means 100% are positive. $36 is the highest target while $20 is the lowest. The $30.56 average target is 6.15% above today’s ($28.79) stock price. Altus Group has been the topic of 13 analyst reports since August 7, 2015 according to StockzIntelligence Inc. TD Securities maintained Altus Group Ltd (TSE:AIF) rating on Thursday, October 27. TD Securities has “Buy” rating and $35 price target. The rating was maintained by Canaccord Genuity with “Buy” on Monday, August 10. Cormark Securities upgraded the stock to “Buy” rating in Friday, August 7 report. The stock has “Sector Performer” rating given by IBC on Thursday, January 7. As per Friday, August 7, the company rating was upgraded by Cormark Securities. The firm earned “Buy” rating on Friday, July 15 by TD Securities.

More recent Altus Group Ltd (TSE:AIF) news were published by: Theglobeandmail.com which released: “The Globe and Mail” on December 22, 2014. Also Marketwired.com published the news titled: “Altus Group Reports Third Quarter 2016 Financial Results” on November 03, 2016. Marketwired.com‘s news article titled: “Altus Group Strengthens Data Analytics Capabilities Through Acquisition of Voyanta” with publication date: October 20, 2014 was also an interesting one.

Altus Group Ltd provides independent advisory services, software and data solutions. The company has a market cap of $1.05 billion. The Company’s divisions include Property Tax Consulting ; Research, Valuation & Advisory (RVA); ARGUS Software; Geomatics, and Cost Consulting & Project Management (Cost). It has a 66.18 P/E ratio. The Property Tax segment performs property tax assessment reviews and appeals, and assists with property tax compliance filings.

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