Altus Group (TSE:AIF) Cut to Hold at Natl Bk Canada

Natl Bk Canada cut shares of Altus Group (TSE:AIF) from a strong-buy rating to a hold rating in a research report sent to investors on Tuesday,Zacks.com reports.

Other research analysts also recently issued reports about the company. Royal Bank Of Canada decreased their price target on Altus Group from C$58.00 to C$56.00 and set a “sector perform” rating for the company in a research note on Friday, November 7th. CIBC increased their price objective on Altus Group from C$54.00 to C$62.00 in a report on Monday, November 24th. BMO Capital Markets boosted their target price on shares of Altus Group from C$56.00 to C$57.00 in a report on Friday, November 21st. National Bankshares lowered shares of Altus Group from an “outperform” rating to a “sector perform” rating and dropped their price target for the stock from C$74.00 to C$52.00 in a research report on Friday, November 7th. Finally, National Bank Financial raised shares of Altus Group from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, August 12th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of C$59.29.

Altus Group Price Performance

Altus Group stock opened at C$55.31 on Tuesday. Altus Group has a 52 week low of C$43.84 and a 52 week high of C$63.07. The business’s fifty day moving average is C$55.89 and its two-hundred day moving average is C$56.22. The company has a debt-to-equity ratio of 55.91, a quick ratio of 1.30 and a current ratio of 2.09. The firm has a market cap of C$2.39 billion, a P/E ratio of 6.19, a P/E/G ratio of 0.96 and a beta of 0.68.

Altus Group (TSE:AIF) last posted its quarterly earnings results on Thursday, November 6th. The company reported C$0.38 earnings per share for the quarter. Altus Group had a return on equity of 0.43% and a net margin of 0.36%.The company had revenue of C$133.32 million for the quarter. Equities research analysts forecast that Altus Group will post 1.7263823 earnings per share for the current fiscal year.

Altus Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, October 15th. Investors of record on Wednesday, October 15th were paid a $0.15 dividend. The ex-dividend date was Monday, September 29th. This represents a $0.60 dividend on an annualized basis and a yield of 1.1%. Altus Group’s dividend payout ratio is 6.71%.

Insider Buying and Selling

In other news, Director Michael Gordon bought 10,290 shares of the company’s stock in a transaction dated Tuesday, November 11th. The stock was bought at an average price of C$50.15 per share, with a total value of C$516,043.50. Following the completion of the acquisition, the director owned 16,290 shares of the company’s stock, valued at C$816,943.50. This represents a 171.50% increase in their ownership of the stock. Also, Director William Brennan bought 4,119 shares of Altus Group stock in a transaction dated Tuesday, November 11th. The stock was acquired at an average cost of C$48.85 per share, with a total value of C$201,213.15. Following the transaction, the director owned 2,036,564 shares of the company’s stock, valued at C$99,486,151.40. This trade represents a 0.20% increase in their position. In the last 90 days, insiders have bought 35,819 shares of company stock valued at $1,784,067. Corporate insiders own 4.05% of the company’s stock.

Altus Group Company Profile

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.