Altus Group (TSE:AIF) Reaches New 1-Year Low – Here’s Why

Altus Group Limited (TSE:AIF)’s share price hit a new 52-week low during mid-day trading on Tuesday . The stock traded as low as C$42.35 and last traded at C$42.37, with a volume of 114785 shares. The stock had previously closed at C$46.56.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on AIF shares. Scotiabank cut their target price on shares of Altus Group from C$63.00 to C$56.00 in a research note on Monday, November 10th. Cormark raised shares of Altus Group from a “hold” rating to a “buy” rating and upped their price objective for the company from C$61.00 to C$65.00 in a research report on Friday, November 21st. National Bankshares downgraded Altus Group from an “outperform” rating to a “sector perform” rating and decreased their target price for the stock from C$74.00 to C$52.00 in a research report on Friday, November 7th. TD Securities lowered their price target on Altus Group from C$70.00 to C$67.00 and set a “buy” rating on the stock in a research note on Friday, November 7th. Finally, Natl Bk Canada downgraded Altus Group from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 2nd. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of C$59.86.

Altus Group Price Performance

The company has a 50-day moving average of C$53.36 and a 200 day moving average of C$56.07. 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$1.66 billion, a P/E ratio of 4.61, a P/E/G ratio of 0.96 and a beta of 0.49.

Altus Group (TSE:AIF) last announced its quarterly earnings results on Thursday, November 6th. The company reported C$0.38 earnings per share for the quarter. The firm had revenue of C$133.32 million for the quarter. Altus Group had a return on equity of 0.43% and a net margin of 0.36%. On average, sell-side analysts anticipate that Altus Group Limited will post 1.7263823 EPS for the current year.

Insider Buying and Selling at Altus Group

In other Altus Group news, Director William Brennan bought 1,146 shares of Altus Group stock in a transaction dated Tuesday, December 23rd. The shares were acquired at an average cost of C$56.20 per share, with a total value of C$64,405.20. Following the acquisition, the director directly owned 2,534,757 shares of the company’s stock, valued at C$142,453,343.40. The trade was a 0.05% increase in their ownership of the stock. Insiders have purchased a total of 177,935 shares of company stock worth $9,467,490 over the last three months. 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.