Altus Group (TSE:AIF) Share Price Crosses Above 200 Day Moving Average - What's Next?

Key Points

• Altus Group shares moved above their 200-day moving average, reaching C$47.62 before last trading at C$45.57, near the C$45.52 long-term average.
• Analyst sentiment remains mixed: the stock has an overall “Hold” rating, with an average price target of C$55.62. Recent targets range from C$45 to C$58.
• The company reported C$112.67 million in quarterly revenue and C$0.53 EPS, while maintaining a quarterly dividend of C$0.15 per share, equivalent to a 1.3% yield. Insiders have also purchased more than 190,000 shares in the past 90 days.

Altus Group Limited (TSE:AIF - Get Free Report) shares passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$45.52 and traded as high as C$47.62. Altus Group shares last traded at C$45.57, with a volume of 128,602 shares trading hands.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the stock. BMO Capital Markets boosted their price objective on shares of Altus Group from C$48.00 to C$54.00 in a research report on Thursday, April 16th. ATB Cormark Capital Markets increased their price objective on Altus Group from C$54.00 to C$58.00 and gave the company an "outperform" rating in a research report on Friday, April 17th. Finally, National Bank Financial lowered their target price on Altus Group from C$52.00 to C$45.00 and set a "sector perform" rating for the company in a research note on Wednesday, May 27th. Three analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of C$55.62.

Altus Group Price Performance

The firm has a market capitalization of C$1.63 billion, a price-to-earnings ratio of -2,278.50, a price-to-earnings-growth ratio of 0.96 and a beta of 0.29. The company has a quick ratio of 1.30, a current ratio of 0.71 and a debt-to-equity ratio of 52.00. The company's fifty day moving average is C$45.58 and its two-hundred day moving average is C$45.52.

Altus Group (TSE:AIF - Get Free Report) last released its earnings results on Thursday, August 6th. The company reported C$0.53 EPS for the quarter. The firm had revenue of C$112.67 million during the quarter. Altus Group had a negative net margin of 3.42% and a negative return on equity of 2.76%. Equities research analysts anticipate that Altus Group Limited will post 1.7263823 earnings per share for the current fiscal year.

Altus Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Wednesday, July 15th were paid a dividend of $0.15 per share. The ex-dividend date of this dividend was Tuesday, June 30th. This represents a $0.60 annualized dividend and a yield of 1.3%. Altus Group's dividend payout ratio (DPR) is presently -3,000.00%.

Insider Transactions at Altus Group

In other news, Director William Brennan bought 106,515 shares of the stock in a transaction on Tuesday, May 19th. The stock was purchased at an average price of C$42.80 per share, with a total value of C$4,558,842.00. Following the completion of the purchase, the director owned 3,479,874 shares of the company's stock, valued at approximately C$148,938,607.20. This trade represents a 3.16% increase in their ownership of the stock. Insiders have purchased a total of 190,392 shares of company stock worth $8,052,187 in the last ninety days. 4.05% of the stock is currently owned by 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. A part of its revenue is also derived from the United States, Europe, and the Asia Pacific.

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