Scotiabank Raises Altus Group (TSE:AIF) Price Target to C$53.00

Altus Group (TSE:AIF) had its price objective upped by Scotiabank from C$49.00 to C$53.00 in a report released on Tuesday morning, BayStreet.CA reports. Scotiabank currently has a sector perform rating on the stock.

A number of other equities research analysts also recently commented on AIF. Cormark raised Altus Group from a market perform rating to a buy rating in a research report on Friday, February 23rd. Canaccord Genuity Group cut their price objective on shares of Altus Group from C$63.00 to C$59.00 and set a buy rating on the stock in a report on Monday, January 29th. TD Securities cut their target price on Altus Group from C$59.00 to C$55.00 and set a buy rating on the stock in a research report on Tuesday. National Bankshares boosted their price objective on shares of Altus Group from C$50.00 to C$55.00 and gave the stock a sector perform rating in a research note on Thursday, April 18th. Finally, BMO Capital Markets upped their target price on shares of Altus Group from C$48.00 to C$51.00 and gave the company a market perform rating in a research note on Friday, February 23rd. Six investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, Altus Group has an average rating of Hold and a consensus target price of C$53.56.

Altus Group Price Performance

TSE:AIF opened at C$47.87 on Tuesday. The firm has a market cap of C$2.19 billion, a price-to-earnings ratio of 184.12, a price-to-earnings-growth ratio of 0.96 and a beta of 0.79. Altus Group has a 12-month low of C$35.29 and a 12-month high of C$54.18. The company has a current ratio of 1.50, a quick ratio of 1.30 and a debt-to-equity ratio of 62.20. The company’s 50-day moving average is C$50.73 and its two-hundred day moving average is C$46.49.

Altus Group (TSE:AIF) last announced its earnings results on Thursday, May 2nd. The company reported C$0.33 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of C$0.42 by C($0.09). The firm had revenue of C$199.54 million for the quarter, compared to analyst estimates of C$198.85 million. Altus Group had a return on equity of 2.06% and a net margin of 1.60%. Research analysts expect that Altus Group will post 2.0016598 EPS for the current year.

Altus Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Sunday, June 30th will be paid a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 1.25%. The ex-dividend date of this dividend is Friday, June 28th. Altus Group’s payout ratio is currently 230.77%.

Insider Transactions at Altus Group

In other Altus Group news, Director Alex Probyn sold 11,087 shares of the business’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of C$51.84, for a total value of C$574,750.08. Company insiders own 4.04% of the company’s stock.

About Altus Group

Altus Group Limited provides asset and funds intelligence solutions for commercial real estate (CRE). The company operates through Analytics, Property Tax, and Appraisals and Development Advisory segments. The Analytics segment portfolio includes software, data analytics, market data, and consulting services; CRE asset and fund management services; ARGUS-branded, finance active-branded debt management, and valuation management solutions; technology consulting services, such as strategic advisory for front-to-back-office strategies, processes, and technology; and software services related to education, training, and implementation.