Altus Group (TSE:AIF) Sets New 12-Month Low on Analyst Downgrade

Altus Group Limited (TSE:AIF) reached a new 52-week low on Friday after National Bankshares downgraded the stock from an outperform rating to a sector perform rating. National Bankshares now has a C$52.00 price target on the stock, down from their previous price target of C$74.00. Altus Group traded as low as C$46.05 and last traded at C$46.20, with a volume of 133601 shares trading hands. The stock had previously closed at C$53.63.

Several other equities analysts also recently weighed in on AIF. Royal Bank Of Canada cut their price target on shares of Altus Group from C$58.00 to C$56.00 and set a “sector perform” rating on the stock in a report on Friday. National Bank Financial raised Altus Group from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, August 12th. TD Securities cut their target price 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. CIBC decreased their price target on Altus Group from C$63.00 to C$54.00 and set a “neutral” rating for the company in a research note on Friday. Finally, Scotiabank upped their price target on Altus Group from C$52.00 to C$53.00 and gave the company a “sector perform” rating in a report on Friday, August 8th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of C$57.33.

Altus Group Price Performance

The firm has a market cap of C$2.03 billion, a PE ratio of 5.40, a PEG ratio of 0.96 and a beta of 0.68. The firm has a fifty day simple moving average of C$58.74 and a two-hundred day simple moving average of C$56.24. 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 Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 15th. Shareholders of record on Wednesday, October 15th were paid a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 1.3%. The ex-dividend date of this dividend was Monday, September 29th. Altus Group’s payout ratio is presently 6.86%.

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.