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

Key Points

• Altus Group's share price recently rose above its 200-day moving average of C$55.30, trading as high as C$58.48 before closing at C$57.35.
• Following positive analyst reports, including upgrades from National Bank Financial and TD Securities, Altus Group has achieved a consensus rating of Moderate Buy with a price target of C$61.83.
• The company declared a quarterly dividend of $0.15, resulting in an annualized dividend yield of 1.0%, with a payout ratio of only 6.86%.

Altus Group Limited (TSE:AIF - Get Free Report)'s share price crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of C$55.30 and traded as high as C$58.48. Altus Group shares last traded at C$57.35, with a volume of 146,494 shares changing hands.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. National Bank Financial raised shares of Altus Group from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, August 12th. 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. National Bankshares raised shares of Altus Group from a "sector perform" rating to an "outperform" rating and boosted their target price for the company from C$60.00 to C$74.00 in a research note on Wednesday, August 13th. Finally, TD Securities boosted their target price on shares of Altus Group from C$63.00 to C$70.00 and gave the company a "buy" rating in a research note on Friday, October 3rd. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Altus Group has a consensus rating of "Moderate Buy" and a consensus price target of C$61.83.

Altus Group Price Performance

The company has a current ratio of 2.09, a quick ratio of 1.30 and a debt-to-equity ratio of 55.91. The business's fifty day moving average is C$59.79 and its 200 day moving average is C$55.30. The firm has a market capitalization of C$2.47 billion, a P/E ratio of 6.56, a P/E/G ratio of 0.96 and a beta of 0.72.

Altus Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 15th. Investors of record on Wednesday, October 15th were issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date was Monday, September 29th. Altus Group's payout ratio is presently 6.86%.

About Altus Group

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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