Brokerages Set Altus Group Limited (TSE:AIF) PT at C$58.14

Altus Group Limited (TSE:AIF) has earned an average recommendation of “Moderate Buy” from the seven brokerages that are covering the firm, Marketbeat reports. Four equities research analysts have rated the stock with a hold recommendation, two have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is C$59.29.

AIF has been the subject of a number of research analyst reports. CIBC increased their target price on Altus Group from C$54.00 to C$62.00 in a report on Monday, November 24th. National Bank Financial raised Altus Group from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, August 12th. 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 research report on Friday, November 7th. Cormark raised Altus Group from a “hold” rating to a “buy” rating and lifted their target price for the company from C$61.00 to C$65.00 in a research note on Friday, November 21st. Finally, BMO Capital Markets increased their price target on shares of Altus Group from C$56.00 to C$57.00 in a research report on Friday, November 21st.

Insiders Place Their Bets

In other news, Director Michael Gordon bought 10,290 shares of the stock in a transaction on Tuesday, November 11th. The shares were purchased at an average price of C$50.15 per share, for a total transaction of C$516,043.50. Following the completion of the purchase, the director directly owned 16,290 shares of the company’s stock, valued at C$816,943.50. This trade represents a 171.50% increase in their position. Also, Director William Brennan purchased 12,207 shares of the business’s stock in a transaction dated Tuesday, November 11th. The shares were purchased at an average cost of C$49.95 per share, with a total value of C$609,739.65. Following the completion of the purchase, the director directly owned 2,051,152 shares in the company, valued at approximately C$102,455,042.40. This represents a 0.60% increase in their ownership of the stock. Insiders bought 35,819 shares of company stock worth $1,784,067 over the last ninety days. 4.05% of the stock is currently owned by company insiders.

Altus Group Price Performance

TSE AIF opened at C$55.64 on Friday. The company has a current ratio of 2.09, a quick ratio of 1.30 and a debt-to-equity ratio of 55.91. Altus Group has a 1 year low of C$43.84 and a 1 year high of C$63.07. The company has a market cap of C$2.40 billion, a PE ratio of 6.22, a PEG ratio of 0.96 and a beta of 0.68. The stock’s 50-day moving average price is C$56.17 and its two-hundred day moving average price is C$56.23.

Altus Group (TSE:AIF) last released its earnings results on Thursday, November 6th. The company reported C$0.01 earnings per share for the quarter. The business had revenue of C$133.32 million for the quarter. Altus Group had a net margin of 0.36% and a return on equity of 0.43%. On average, analysts predict that Altus Group will post 1.7263823 EPS for the current year.

Altus Group Dividend Announcement

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

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.