Altus Group (TSE:AIF) Hits New 52-Week Low – Here’s Why

Altus Group Limited (TSE:AIF)’s share price reached a new 52-week low on Thursday . The company traded as low as C$39.80 and last traded at C$40.01, with a volume of 25603 shares. The stock had previously closed at C$41.20.

Wall Street Analyst Weigh In

Several research analysts recently commented on the company. TD Securities dropped their price target on Altus Group from C$70.00 to C$67.00 and set a “buy” rating for the company in a research report on Friday, November 7th. BMO Capital Markets lifted their target price on Altus Group from C$57.00 to C$61.00 in a report on Friday, December 5th. Scotiabank cut their target price on Altus Group from C$63.00 to C$56.00 in a research report on Monday, November 10th. Canadian Imperial Bank of Commerce raised their price target on Altus Group from C$54.00 to C$62.00 in a research report on Monday, November 24th. Finally, Royal Bank Of Canada dropped their price objective on shares of 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. Two research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of C$59.86.

Altus Group Stock Performance

The firm has a market cap of C$1.57 billion, a PE ratio of 4.35, a price-to-earnings-growth ratio of 0.96 and a beta of 0.49. The company has a quick ratio of 1.30, a current ratio of 2.09 and a debt-to-equity ratio of 55.91. The business has a 50 day simple moving average of C$52.30 and a two-hundred day simple moving average of C$55.72.

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

Insider Activity at Altus Group

In related news, Director William Brennan sold 93,975 shares of the stock in a transaction that occurred on Wednesday, November 26th. The stock was sold at an average price of C$53.99, for a total value of C$5,073,710.25. Following the transaction, the director owned 2,364,956 shares of the company’s stock, valued at C$127,683,974.44. This represents a 3.82% decrease in their ownership of the stock. Insiders have purchased 142,116 shares of company stock worth $7,683,423 over the last 90 days. Company insiders own 4.05% of the company’s stock.

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. A part of its revenue is also derived from the United States, Europe, and the Asia Pacific.