The stock of Altus Group Ltd (TSE:AIF) gapped up by $0.23 today and has $43.84 target or 52.00% above today’s $28.84 share price. The 5 months technical chart setup indicates low risk for the $1.05 billion company. The gap was reported on Nov, 4 by Barchart.com. If the $43.84 price target is reached, the company will be worth $546.00 million 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 261,139 shares traded hands or 146.21% 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. Altus Group has been the topic of 13 analyst reports since August 7, 2015 according to StockzIntelligence Inc. The stock has “Buy” rating given by Cormark Securities on Friday, August 7. The stock of Altus Group Ltd (TSE:AIF) earned “Buy” rating by TD Securities on Thursday, October 27. Cormark Securities upgraded the stock to “Buy” rating in Friday, August 7 report. The stock has “Buy” rating given by Canaccord Genuity on Monday, August 10. TD Securities initiated Altus Group Ltd (TSE:AIF) on Friday, July 15 with “Buy” rating. As per Thursday, January 7, the company rating was downgraded by IBC.
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 66.3 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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