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

Altus Group Limited (TSE:AIF)’s share price passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$52.01 and traded as high as C$54.38. Altus Group shares last traded at C$53.74, with a volume of 30,379 shares trading hands.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the stock. National Bankshares increased their target price on shares of Altus Group from C$50.00 to C$55.00 in a report on Thursday, September 19th. Royal Bank of Canada raised their target price on shares of Altus Group from C$52.00 to C$55.00 in a research report on Friday, August 9th. Canaccord Genuity Group lowered their price target on shares of Altus Group from C$66.00 to C$63.00 in a report on Wednesday, July 10th. Eight Capital raised their price objective on Altus Group from C$50.00 to C$55.00 in a report on Wednesday, July 10th. Finally, BMO Capital Markets lowered their target price on Altus Group from C$59.00 to C$55.00 in a report on Friday, August 9th. Seven research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of C$56.33.

Altus Group Stock Performance

The firm has a market capitalization of C$2.49 billion, a P/E ratio of 896.33, a price-to-earnings-growth ratio of 0.96 and a beta of 0.82. The company has a 50-day moving average of C$53.74 and a 200-day moving average of C$52.01. The company has a current ratio of 1.41, a quick ratio of 1.30 and a debt-to-equity ratio of 57.13.

Altus Group (TSE:AIF) last issued its quarterly earnings results 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. The company had revenue of C$206.71 million during the quarter, compared to analysts’ expectations of C$132.50 million. Altus Group had a return on equity of 0.48% and a net margin of 0.37%. On average, equities analysts anticipate that Altus Group Limited will post 1.7263823 earnings per share for the current fiscal year.

Altus Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Tuesday, October 15th were issued a dividend of $0.15 per share. The ex-dividend date of this dividend was Friday, September 27th. This represents a $0.60 dividend on an annualized basis and a yield of 1.11%. Altus Group’s payout ratio is currently 1,000.00%.

Insider Activity

In other Altus Group news, Director William Brennan bought 500 shares of the firm’s stock in a transaction that occurred on Tuesday, September 24th. The stock was acquired at an average price of C$54.48 per share, with a total value of C$27,240.00. In related news, Director William Brennan bought 500 shares of the business’s stock in a transaction that occurred on Tuesday, September 24th. The shares were acquired at an average cost of C$54.48 per share, with a total value of C$27,240.00. Also, Senior Officer Kimberly Carter sold 1,100 shares of the firm’s stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of C$54.00, for a total transaction of C$59,400.00. 4.05% of the stock is 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.