Altus Group (TSE:AIF) Sets New 52-Week High After Analyst Upgrade

Key Points

• Altus Group Limited reached a new 52-week high of C$62.11 after TD Securities raised its price target from C$63.00 to C$70.00, maintaining a buy rating on the stock.
• The firm recently declared a quarterly dividend of $0.15 per share, with an annualized yield of 1.0% and an ex-dividend date set for September 29th.
• Consensus ratings for Altus Group currently include one Strong Buy, two Buy, and three Hold ratings, with a price target averaging C$61.83.

Altus Group Limited (TSE:AIF - Get Free Report) hit a new 52-week high during trading on Friday after TD Securities raised their price target on the stock from C$63.00 to C$70.00. TD Securities currently has a buy rating on the stock. Altus Group traded as high as C$62.10 and last traded at C$62.11, with a volume of 118116 shares trading hands. The stock had previously closed at C$60.83.

Several other research firms have also recently weighed in on AIF. National Bank Financial raised Altus Group from a "hold" rating to a "strong-buy" rating in a report on Tuesday, August 12th. National Bankshares raised Altus Group from a "sector perform" rating to an "outperform" rating and raised their price target for the company from C$60.00 to C$74.00 in a report on Wednesday, August 13th. Finally, Scotiabank raised their price target on Altus Group from C$52.00 to C$53.00 and gave the company a "sector perform" rating in a report on Friday, August 8th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and three have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of C$61.83.

Altus Group Trading Up 2.4%

The firm has a 50-day moving average of C$59.32 and a 200-day moving average of C$54.78. The company has a debt-to-equity ratio of 55.91, a quick ratio of 1.30 and a current ratio of 2.09. The firm has a market capitalization of C$2.68 billion, a P/E ratio of 7.12, a price-to-earnings-growth ratio of 0.96 and a beta of 0.90.

Altus Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Wednesday, October 15th will be given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 1.0%. The ex-dividend date is Monday, September 29th. Altus Group's dividend payout ratio (DPR) is presently 6.86%.

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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