Natl Bk Canada Downgrades Altus Group (TSE:AIF) to Hold

Altus Group (TSE:AIF) was downgraded by stock analysts at Natl Bk Canada from a “strong-buy” rating to a “hold” rating in a research note issued on Tuesday,Zacks.com reports.

AIF has been the subject of several other reports. Scotiabank lowered their price target on shares of Altus Group from C$63.00 to C$56.00 in a report on Monday, November 10th. National Bank Financial raised Altus Group from a “hold” rating to a “strong-buy” rating in a report on Tuesday, August 12th. CIBC lifted their price target on Altus Group from C$54.00 to C$62.00 in a research note on Monday, November 24th. BMO Capital Markets boosted their price target on Altus Group from C$56.00 to C$57.00 in a report on Friday, November 21st. Finally, National Bankshares downgraded Altus Group from an “outperform” rating to a “sector perform” rating and lowered their price objective for the company from C$74.00 to C$52.00 in a research note on Friday, November 7th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat, Altus Group currently has a consensus rating of “Moderate Buy” and a consensus target price of C$59.29.

Altus Group Trading Down 0.3%

AIF opened at C$55.14 on Tuesday. The company has a market cap of C$2.38 billion, a P/E ratio of 6.17, a PEG ratio of 0.96 and a beta of 0.68. The company has a current ratio of 2.09, a quick ratio of 1.30 and a debt-to-equity ratio of 55.91. The company’s 50 day moving average is C$55.95 and its 200-day moving average is C$56.22. Altus Group has a 1-year low of C$43.84 and a 1-year high of C$63.07.

Altus Group (TSE:AIF) last released its quarterly earnings data on Thursday, November 6th. The company reported C$0.38 earnings per share (EPS) for the quarter. The business had revenue of C$133.32 million during the quarter. Altus Group had a net margin of 0.36% and a return on equity of 0.43%. Equities research analysts predict that Altus Group will post 1.7263823 earnings per share for the current fiscal year.

Insider Activity at Altus Group

In other news, Director Michael Gordon purchased 10,290 shares of the company’s stock in a transaction dated Tuesday, November 11th. The shares were purchased at an average price of C$50.15 per share, for a total transaction of C$516,043.50. Following the transaction, the director owned 16,290 shares of the company’s stock, valued at approximately C$816,943.50. This trade represents a 171.50% increase in their ownership of the stock. Also, Director William Brennan acquired 4,119 shares of Altus Group stock in a transaction dated Tuesday, November 11th. The stock was purchased at an average cost of C$48.85 per share, for a total transaction of C$201,213.15. Following the completion of the purchase, the director owned 2,036,564 shares in the company, valued at approximately C$99,486,151.40. The trade was a 0.20% increase in their position. Insiders purchased 35,819 shares of company stock worth $1,784,067 over the last quarter. 4.05% of the stock is currently owned by company insiders.

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.