Altus Group (TSE:AIF) Reaches New 1-Year High - Time to Buy?

Key Points

• Altus Group Limited reached a new 52-week high, trading at C$62.08, with its last price at C$61.51, reflecting strong market interest.
• Several brokerages have upgraded their ratings and price targets for Altus Group, with National Bank Financial marking it a "strong-buy" and lifting its target to C$74.00.
• The company announced a quarterly dividend of $0.15 per share, translating to a 1.0% yield, which will be paid on October 15th to shareholders of record as of September 30th.

Altus Group Limited (TSE:AIF - Get Free Report)'s share price reached a new 52-week high on Thursday . The stock traded as high as C$62.08 and last traded at C$61.51, with a volume of 153659 shares changing hands. The stock had previously closed at C$61.25.

Analyst Ratings Changes

Several brokerages have weighed in on AIF. Scotiabank lifted their price objective on shares of Altus Group from C$52.00 to C$53.00 and gave the stock a "sector perform" rating in a research note on Friday, August 8th. BMO Capital Markets lifted their price objective on shares of Altus Group from C$60.00 to C$62.00 in a research note on Thursday, May 22nd. National Bank Financial upgraded shares of Altus Group from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, August 12th. Finally, National Bankshares upgraded shares of Altus Group from a "sector perform" rating to an "outperform" rating and lifted their price objective for the stock from C$60.00 to C$74.00 in a research note on Wednesday, August 13th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and three have given a Hold rating to the company's stock. Based on data from MarketBeat.com, Altus Group currently has an average rating of "Moderate Buy" and an average target price of C$60.20.

Altus Group Price Performance

The stock has a market capitalization of C$2.65 billion, a price-to-earnings ratio of 7.04, a P/E/G ratio of 0.96 and a beta of 0.89. The company has a quick ratio of 1.30, a current ratio of 2.09 and a debt-to-equity ratio of 55.91. The business's 50 day simple moving average is C$56.79 and its 200-day simple moving average is C$53.97.

Altus Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Tuesday, September 30th will be paid a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 1.0%. Altus Group's payout ratio is 6.86%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.