Altus Group (TSE:AIF) Share Price Crosses Above 200 Day Moving Average - Time to Sell?

Key Points

• Altus Group's share price recently crossed above its 200-day moving average of C$55.01, indicating positive momentum with the stock trading as high as C$61.90.
• Brokerages have set new price targets for Altus Group, with TD Securities increasing their target from C$63.00 to C$70.00 and maintaining a "buy" rating.
• The company announced a quarterly dividend of $0.15 per share, with an annualized yield of 1.0%, payable to shareholders on October 15th.

Altus Group Limited (TSE:AIF - Get Free Report)'s share price passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$55.01 and traded as high as C$61.90. Altus Group shares last traded at C$61.11, with a volume of 110,882 shares.

Analysts Set New Price Targets

Several brokerages recently weighed in on AIF. TD Securities boosted their price objective on shares of Altus Group from C$63.00 to C$70.00 and gave the stock a "buy" rating in a research note on Friday, October 3rd. Scotiabank boosted their target price on shares of 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. National Bank Financial raised shares of Altus Group from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, August 12th. Finally, National Bankshares raised shares of Altus Group from a "sector perform" rating to an "outperform" rating and upped their price objective for the stock from C$60.00 to C$74.00 in a research report on Wednesday, August 13th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of C$61.83.

Altus Group Stock Down 0.9%

The company has a market capitalization of C$2.63 billion, a PE ratio of 6.99, a PEG ratio of 0.96 and a beta of 0.72. 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 stock's 50 day moving average is C$59.63 and its 200 day moving average is C$55.01.

Altus Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Wednesday, October 15th will be paid a $0.15 dividend. The ex-dividend date is Monday, September 29th. This represents a $0.60 annualized dividend and a yield of 1.0%. Altus Group's dividend payout ratio 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.

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