CIBC Trims Altus Group (TSE:AIF) Target Price to C$51.00

Altus Group (TSE:AIF) had its price objective decreased by CIBC from C$52.50 to C$51.00 in a research report sent to investors on Friday morning, BayStreet.CA reports. CIBC currently has a neutral rating on the stock.

Several other analysts also recently weighed in on AIF. BMO Capital Markets raised their target price on 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. National Bankshares raised their price objective on Altus Group from C$50.00 to C$55.00 and gave the company a sector perform rating in a research note on Thursday, April 18th. Scotiabank increased their target price on Altus Group from C$48.00 to C$50.00 and gave the company a sector perform rating in a research note on Wednesday, January 31st. Canaccord Genuity Group decreased their price target on shares of Altus Group from C$63.00 to C$59.00 and set a buy rating for the company in a research report on Monday, January 29th. Finally, Cormark raised shares of Altus Group from a market perform rating to a buy rating in a report on Friday, February 23rd. Six analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, Altus Group presently has a consensus rating of Hold and an average price target of C$53.11.

Altus Group Stock Performance

Altus Group stock opened at C$49.35 on Friday. The company has a debt-to-equity ratio of 59.01, a quick ratio of 1.30 and a current ratio of 1.39. Altus Group has a one year low of C$35.29 and a one year high of C$54.18. The stock’s 50 day moving average price is C$51.27 and its 200 day moving average price is C$46.41. The firm has a market capitalization of C$2.25 billion, a PE ratio of 224.32, a price-to-earnings-growth ratio of 0.96 and a beta of 0.78.

Altus Group (TSE:AIF) last posted its earnings results on Thursday, February 22nd. The company reported C$0.46 EPS for the quarter, topping analysts’ consensus estimates of C$0.42 by C$0.04. The business had revenue of C$191.57 million for the quarter, compared to analysts’ expectations of C$192.55 million. Altus Group had a net margin of 1.32% and a return on equity of 1.70%. As a group, sell-side analysts expect that Altus Group will post 2.0611995 EPS for the current fiscal year.

Altus Group Announces Dividend

The firm also recently announced 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. The ex-dividend date is Friday, June 28th. This represents a $0.60 annualized dividend and a yield of 1.22%. Altus Group’s payout ratio is 272.73%.

Insider Transactions at Altus Group

In related 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 transaction of C$574,750.08. Insiders own 4.05% 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.