Altus Group (TSE:AIF) Stock Price Expected to Rise, Scotiabank Analyst Says

Key Points

• Scotiabank has raised its price target for Altus Group (TSE:AIF) from C$52.00 to C$53.00, indicating a slight downside of 0.13% from its current price, while maintaining a "sector perform" rating.
• Other analysts have mixed views, with CIBC lowering its target to C$54.00 and Royal Bank of Canada reducing it to C$58.00, whereas BMO Capital Markets increased their target to C$62.00.
• Following recent transactions, insiders own 4.05% of the company's stock, highlighting ongoing trading activity within the company amidst a stable market environment.

Altus Group (TSE:AIF - Free Report) had its target price lifted by Scotiabank from C$52.00 to C$53.00 in a research note released on Friday morning,BayStreet.CA reports. They currently have a sector perform rating on the stock.

Several other research analysts also recently commented on AIF. Royal Bank Of Canada lowered their price objective on shares of Altus Group from C$62.00 to C$58.00 and set a "sector perform" rating for the company in a research report on Tuesday, April 22nd. BMO Capital Markets boosted their price objective on shares of Altus Group from C$60.00 to C$62.00 in a research report on Thursday, May 22nd. Finally, CIBC lowered their price objective on shares of Altus Group from C$57.00 to C$54.00 in a research report on Thursday, April 17th.

Altus Group Stock Performance

TSE AIF traded up C$2.68 during trading on Friday, reaching C$60.84. 144,939 shares of the company's stock were exchanged, compared to its average volume of 123,483. Altus Group has a fifty-two week low of C$46.36 and a fifty-two week high of C$62.00. The stock has a market capitalization of C$2.83 billion, a P/E ratio of 1,064.59, a PEG ratio of 0.96 and a beta of 0.82. The business has a 50 day moving average price of C$54.10 and a 200-day moving average price of C$53.65. The company has a debt-to-equity ratio of 55.91, a current ratio of 2.09 and a quick ratio of 1.30.

Altus Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Tuesday, September 30th will be issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 1.0%. Altus Group's dividend payout ratio (DPR) is presently 1,049.89%.

Insider Buying and Selling at Altus Group

In related news, Senior Officer Kimberly Carter sold 725 shares of the stock in a transaction on Wednesday, May 28th. The stock was sold at an average price of C$55.00, for a total value of C$39,875.00. Also, Director Anthony Long sold 3,000 shares of the stock in a transaction on Wednesday, May 21st. The shares were sold at an average price of C$56.16, for a total value of C$168,468.00. 4.05% of the stock is currently owned by corporate 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.