Altus Group (TSE:AIF) Trading 14.2% Higher on Analyst Upgrade

Altus Group Limited (TSE:AIF) shot up 14.2% during mid-day trading on Friday after ATB Cormark Capital Markets raised their price target on the stock from C$56.00 to C$57.10. ATB Cormark Capital Markets currently has an outperform rating on the stock. Altus Group traded as high as C$53.42 and last traded at C$52.03. Approximately 169,765 shares changed hands during mid-day trading, a decline of 23% from the average session volume of 219,828 shares. The stock had previously closed at C$45.57.

Several other research firms have also weighed in on AIF. BMO Capital Markets upped their price objective on shares of Altus Group from C$41.00 to C$50.00 and gave the company a “sector perform” rating in a research note on Friday. National Bank Financial lifted their target price on shares of Altus Group from C$41.00 to C$50.00 and gave the company a “sector perform” rating in a research note on Friday. Three equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, Altus Group has a consensus rating of “Hold” and an average price target of C$55.64.

Insider Buying and Selling at Altus Group

In related news, Director William Brennan bought 106,515 shares of Altus Group stock in a transaction that occurred on Tuesday, May 19th. The stock was purchased at an average cost of C$42.80 per share, for a total transaction of C$4,558,842.00. Following the acquisition, the director owned 3,479,874 shares in the company, valued at C$148,938,607.20. This trade represents a 3.16% increase in their ownership of the stock. Over the last quarter, insiders purchased 190,392 shares of company stock valued at $8,052,187. 4.05% of the stock is currently owned by company insiders.

Altus Group Stock Performance

The stock’s 50-day moving average price is C$45.78 and its 200 day moving average price is C$45.57. The company has a quick ratio of 1.30, a current ratio of 0.71 and a debt-to-equity ratio of 52.00. The company has a market cap of C$1.79 billion, a P/E ratio of -2,621.50, a price-to-earnings-growth ratio of 0.96 and a beta of 0.29.

Altus Group (TSE:AIF) last posted its quarterly earnings data on Thursday, August 6th. The company reported C$0.53 earnings per share (EPS) for the quarter. Altus Group had a negative net margin of 3.42% and a negative return on equity of 2.76%. The business had revenue of C$112.67 million during the quarter. As a group, research analysts expect that Altus Group Limited will post 1.7263823 EPS for the current fiscal year.

Altus Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Wednesday, July 15th were given a dividend of $0.15 per share. The ex-dividend date of this dividend was Tuesday, June 30th. This represents a $0.60 dividend on an annualized basis and a yield of 1.1%. Altus Group’s payout ratio is currently -3,000.00%.

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.