Royal Bank Of Canada Cuts Altus Group (TSE:AIF) Price Target to C$50.00

Altus Group (TSE:AIF) had its target price lowered by Royal Bank Of Canada from C$56.00 to C$50.00 in a research report sent to investors on Friday morning,BayStreet.CA reports. The brokerage currently has a sector perform rating on the stock.

A number of other research firms also recently issued reports on AIF. Canadian Imperial Bank of Commerce 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 lifted their price objective on shares of Altus Group from C$57.00 to C$61.00 in a report on Friday, December 5th. Scotiabank cut their price objective on shares of Altus Group from C$63.00 to C$56.00 in a research report on Monday, November 10th. TD Securities reduced their target price on shares of Altus Group from C$70.00 to C$67.00 and set a “buy” rating for the company in a report on Friday, November 7th. Finally, Cormark raised shares of Altus Group from a “hold” rating to a “buy” rating and raised their target price for the company from C$61.00 to C$65.00 in a research report on Friday, November 21st. Two research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of C$57.14.

Altus Group Stock Performance

Shares of AIF opened at C$42.85 on Friday. The company has a market capitalization of C$1.73 billion, a PE ratio of 4.79, a price-to-earnings-growth ratio of 0.96 and a beta of 0.49. The company has a debt-to-equity ratio of 55.91, a current ratio of 2.09 and a quick ratio of 1.30. Altus Group has a one year low of C$36.97 and a one year high of C$63.07. The company’s fifty day moving average price is C$50.12 and its 200 day moving average price is C$54.84.

Altus Group (TSE:AIF) last announced its quarterly earnings data on Thursday, February 19th. The company reported C$0.67 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$108.96 million for the quarter. As a group, analysts expect that Altus Group will post 1.7263823 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director William Brennan bought 1,146 shares of the stock in a transaction that occurred on Tuesday, December 23rd. The stock was acquired at an average cost of C$56.20 per share, with a total value of C$64,405.20. Following the transaction, the director directly owned 2,534,757 shares in the company, valued at approximately C$142,453,343.40. This trade represents a 0.05% increase in their ownership of the stock. In the last 90 days, insiders acquired 142,116 shares of company stock worth $7,683,423. 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.