Altus Group (TSE:AIF) Stock Passes Above 200 Day Moving Average – What’s Next?

Altus Group Limited (TSE:AIF) shares passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of C$52.09 and traded as high as C$55.12. Altus Group shares last traded at C$54.12, with a volume of 83,408 shares.

Wall Street Analyst Weigh In

Several research firms recently issued reports on AIF. Cormark dropped their price target on Altus Group from C$63.00 to C$56.00 and set a “hold” rating on the stock in a research report on Friday, August 9th. Scotiabank reduced their price target on shares of Altus Group from C$59.00 to C$51.00 and set a “sector perform” rating on the stock in a research report on Friday, August 9th. CIBC lowered their price objective on shares of Altus Group from C$53.00 to C$52.00 in a research report on Friday. BMO Capital Markets cut their target price on shares of Altus Group from C$59.00 to C$55.00 in a report on Friday, August 9th. Finally, National Bankshares lifted their target price on Altus Group from C$50.00 to C$55.00 in a research note on Thursday, September 19th. Seven investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of C$56.22.

Altus Group Trading Up 4.6 %

The business has a 50 day simple moving average of C$54.02 and a 200-day simple moving average of C$52.12. The stock has a market capitalization of C$2.61 billion, a P/E ratio of 943.50, a price-to-earnings-growth ratio of 0.96 and a beta of 0.82. The company has a debt-to-equity ratio of 57.13, a quick ratio of 1.30 and a current ratio of 1.41.

Altus Group (TSE:AIF) last posted its quarterly earnings data on Thursday, August 8th. The company reported C$0.45 earnings per share for the quarter, beating the consensus estimate of C$0.22 by C$0.23. Altus Group had a net margin of 0.37% and a return on equity of 0.48%. The company had revenue of C$206.71 million during the quarter, compared to analyst estimates of C$132.50 million. On average, analysts predict that Altus Group Limited will post 1.7263823 EPS for the current year.

Altus Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be given a $0.15 dividend. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $0.60 annualized dividend and a yield of 1.06%. Altus Group’s dividend payout ratio (DPR) is 1,000.00%.

Insiders Place Their Bets

In other news, Director William Brennan sold 18,551 shares of Altus Group stock in a transaction that occurred on Thursday, September 26th. The shares were sold at an average price of C$55.32, for a total value of C$1,026,241.32. In other Altus Group news, Senior Officer Kimberly Carter sold 1,100 shares of the firm’s stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of C$54.00, for a total transaction of C$59,400.00. Also, Director William Brennan sold 18,551 shares of Altus Group stock in a transaction dated Thursday, September 26th. The shares were sold at an average price of C$55.32, for a total value of C$1,026,241.32. 4.05% of the stock is currently owned by company insiders.

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.