Altus Group (TSE:AIF) Stock Price Passes Above 200-Day Moving Average - Here's Why

Key Points

• Altus Group's stock price surpassed its 200-day moving average, currently trading at C$58.19, indicating a bullish trend.
• National Bank Financial upgraded Altus Group shares to a "strong-buy" rating, while analysts have an average rating of "Moderate Buy" with a consensus target price of C$60.20.
• The company declared a quarterly dividend of $0.15, translating to an annualized yield of 1.0% and a low payout ratio of 6.86%.

Altus Group Limited (TSE:AIF - Get Free Report) shares crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$54.36 and traded as high as C$59.73. Altus Group shares last traded at C$58.19, with a volume of 1,406,790 shares.

Analyst Ratings Changes

AIF has been the subject of several research analyst reports. National Bankshares raised Altus Group from a "sector perform" rating to an "outperform" rating and upped their target price for the stock from C$60.00 to C$74.00 in a research note on Wednesday, August 13th. Scotiabank lifted their target price on Altus Group from C$52.00 to C$53.00 and gave the stock a "sector perform" rating in a research report on Friday, August 8th. Finally, 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. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and three have issued a Hold rating to the company's stock. According to data from MarketBeat.com, Altus Group presently has an average rating of "Moderate Buy" and an average target price of C$60.20.

Altus Group Trading Down 0.3%

The firm has a 50 day moving average of C$58.59 and a 200 day moving average of C$54.41. The firm has a market cap of C$2.56 billion, a PE ratio of 6.79, a P/E/G ratio of 0.96 and a beta of 0.90. The company has a quick ratio of 1.30, a current ratio of 2.09 and a debt-to-equity ratio of 55.91.

Altus Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Tuesday, September 30th will be given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 1.0%. Altus Group's dividend payout ratio (DPR) is currently 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.