Altus Group (TSE:AIF) Reaches New 52-Week High - Here's Why

Key Points

• Altus Group Limited reached a new 52-week high of C$62.00 during trading, with the last recorded price at C$61.27.
• Analysts have mixed views on the stock, with target prices ranging from C$54.00 to C$62.00, indicating varied expectations for its future performance.
• The company announced a quarterly dividend of $0.15, marking an annualized yield of 1.0%, although its payout ratio is notably high at 1,049.89%.

Altus Group Limited (TSE:AIF - Get Free Report) hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as C$62.00 and last traded at C$61.27, with a volume of 132404 shares changing hands. The stock had previously closed at C$58.16.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the stock. CIBC reduced their price objective on shares of Altus Group from C$57.00 to C$54.00 in a research note on Thursday, April 17th. BMO Capital Markets lifted their target price on shares of Altus Group from C$60.00 to C$62.00 in a research note on Thursday, May 22nd. Scotiabank boosted their target price on shares of Altus Group from C$52.00 to C$53.00 and gave the company a "sector perform" rating in a research note on Friday, August 8th. Finally, Royal Bank Of Canada lowered their target price on shares of Altus Group from C$62.00 to C$58.00 and set a "sector perform" rating on the stock in a report on Tuesday, April 22nd.

Altus Group Price Performance

The company has a market capitalization of C$2.82 billion, a PE ratio of 1,060.04, a PEG ratio of 0.96 and a beta of 0.82. The company has a debt-to-equity ratio of 55.91, a current ratio of 2.09 and a quick ratio of 1.30. The firm has a 50-day moving average of C$54.10 and a 200 day moving average of C$53.65.

Altus Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Tuesday, September 30th will be issued a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 1.0%. Altus Group's dividend payout ratio is 1,049.89%.

Insider Buying and Selling at Altus Group

In related news, Senior Officer Kimberly Carter sold 725 shares of the firm's stock in a transaction dated Wednesday, May 28th. The stock was sold at an average price of C$55.00, for a total transaction of C$39,875.00. Also, Director Anthony Long sold 3,000 shares of the firm's stock in a transaction dated Wednesday, May 21st. The stock was sold at an average price of C$56.16, for a total value of C$168,468.00. 4.05% of the stock is currently owned by corporate insiders.

Altus Group Company Profile

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.

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