Altus Group (TSE:AIF) Trading Up 14.2% - Here's What Happened

Key Points

• Altus Group shares surged 14.2% to C$52.03, reaching as high as C$53.42, with trading volume below the stock’s average session volume.
• Analyst sentiment remains mixed: three analysts rate the stock a Buy and five rate it a Hold, producing an overall “Hold” consensus and an average price target of C$55.62.
• Director William Brennan purchased 106,515 shares worth approximately C$4.56 million, contributing to more than C$8 million in insider buying over the past three months.

Shares of Altus Group Limited (TSE:AIF - Get Free Report) traded up 14.2% during trading on Friday . The stock traded as high as C$53.42 and last traded at C$52.03. Approximately 169,765 shares traded hands during trading, a decline of 23% from the average session volume of 219,828 shares. The stock had previously closed at C$45.57.

Analysts Set New Price Targets

AIF has been the subject of several research analyst reports. National Bank Financial lowered their price objective on Altus Group from C$52.00 to C$45.00 and set a "sector perform" rating for the company in a report on Wednesday, May 27th. ATB Cormark Capital Markets increased their target price on Altus Group from C$54.00 to C$58.00 and gave the stock an "outperform" rating in a report on Friday, April 17th. Finally, BMO Capital Markets boosted their price target on Altus Group from C$48.00 to C$54.00 in a report on Thursday, April 16th. Three equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, Altus Group has an average rating of "Hold" and a consensus price target of C$55.62.

Altus Group Stock Performance

The stock's 50-day moving average price is C$45.58 and its 200-day moving average price is C$45.52. The company has a current ratio of 0.71, a quick ratio of 1.30 and a debt-to-equity ratio of 52.00. The company has a market capitalization of C$1.86 billion, a P/E ratio of -2,600.50, a P/E/G ratio of 0.96 and a beta of 0.29.

Altus Group (TSE:AIF - Get Free Report) last issued its earnings results on Thursday, August 6th. The company reported C$0.53 earnings per share for the quarter. The firm had revenue of C$112.67 million for the quarter. Altus Group had a negative return on equity of 2.76% and a negative net margin of 3.42%. As a group, equities analysts expect that Altus Group Limited will post 1.7263823 EPS for the current year.

Altus Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Wednesday, July 15th were issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date was Tuesday, June 30th. Altus Group's payout ratio is presently -3,000.00%.

Insider Buying and Selling

In other news, Director William Brennan acquired 106,515 shares of the stock in a transaction on Tuesday, May 19th. The shares were purchased at an average cost of C$42.80 per share, for a total transaction of C$4,558,842.00. Following the transaction, the director owned 3,479,874 shares in the company, valued at approximately C$148,938,607.20. This trade represents a 3.16% increase in their position. Over the last three months, insiders have purchased 190,392 shares of company stock valued at $8,052,187. Company insiders own 4.05% of the company's stock.

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. A part of its revenue is also derived from the United States, Europe, and the Asia Pacific.

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