Royal Bank of Canada Cuts Altus Group (TSE:AIF) Price Target to C$58.00

Altus Group (TSE:AIF) had its price target decreased by Royal Bank of Canada from C$62.00 to C$58.00 in a report issued on Tuesday,BayStreet.CA reports. Royal Bank of Canada currently has a sector perform rating on the stock.

Separately, CIBC cut their price target on Altus Group from C$57.00 to C$54.00 in a research note on Thursday, April 17th. Four research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of C$56.67.

Altus Group Stock Performance

Shares of TSE:AIF opened at C$50.08 on Tuesday. The firm’s 50 day simple moving average is C$51.53 and its 200-day simple moving average is C$54.74. The company has a debt-to-equity ratio of 55.91, a quick ratio of 1.30 and a current ratio of 2.09. Altus Group has a one year low of C$46.09 and a one year high of C$61.09. The firm has a market cap of C$2.33 billion, a PE ratio of 876.31, a price-to-earnings-growth ratio of 0.96 and a beta of 0.82.

Altus Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Tuesday, April 15th were given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.20%. The ex-dividend date was Monday, March 31st. Altus Group’s payout ratio is presently 1,049.89%.

Insider Activity

In other news, Senior Officer Kamila (Camilla) Bartosiewicz sold 2,500 shares of the stock in a transaction dated Friday, February 28th. The shares were sold at an average price of C$54.28, for a total transaction of C$135,700.00. Also, Director William Brennan bought 600 shares of Altus Group stock in a transaction dated Friday, March 21st. The shares were acquired at an average cost of C$51.00 per share, with a total value of C$30,600.00. Corporate insiders own 4.05% of the company’s stock.

Altus Group Company Profile

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.