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

Altus Group Limited (TSE:AIF) passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$46.33 and traded as high as C$47.12. Altus Group shares last traded at C$45.19, with a volume of 123,583 shares.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on AIF shares. BMO Capital Markets upped their price target on Altus Group from C$48.00 to C$54.00 in a research report on Thursday, April 16th. National Bank Financial decreased their target price on shares of Altus Group from C$52.00 to C$45.00 and set a “sector perform” rating on the stock in a report on Wednesday, May 27th. Finally, ATB Cormark Capital Markets increased their target price on shares of Altus Group from C$54.00 to C$58.00 and gave the stock an “outperform” rating in a research note on Friday, April 17th. Three analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of C$55.62.

Altus Group Price Performance

The stock has a market capitalization of C$1.62 billion, a PE ratio of -2,259.50, a PEG ratio of 0.96 and a beta of 0.29. The business has a fifty day moving average price of C$44.70 and a 200-day moving average price of C$46.33. The company has a current ratio of 0.71, a quick ratio of 1.30 and a debt-to-equity ratio of 52.00.

Altus Group (TSE:AIF) last posted its quarterly earnings results on Thursday, May 7th. The company reported C$0.42 EPS for the quarter. Altus Group had a negative net margin of 3.42% and a negative return on equity of 2.76%. The firm had revenue of C$108.23 million for the quarter. Research analysts expect that Altus Group Limited will post 1.7263823 EPS for the current fiscal year.

Altus Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Wednesday, July 15th were given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 1.3%. The ex-dividend date was Tuesday, June 30th. Altus Group’s dividend payout ratio is presently -3,000.00%.

Insider Activity

In related news, Director William Brennan acquired 106,515 shares of the firm’s stock in a transaction dated Tuesday, May 19th. The shares were purchased at an average price of C$42.80 per share, for a total transaction of C$4,558,842.00. Following the completion of the acquisition, the director owned 3,479,874 shares in the company, valued at approximately C$148,938,607.20. This represents a 3.16% increase in their ownership of the stock. Insiders bought 190,392 shares of company stock worth $8,052,187 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. A part of its revenue is also derived from the United States, Europe, and the Asia Pacific.