Altus Group (TSE:AIF) Shares Pass Above Two Hundred Day Moving Average - What's Next?

Key Points

• Shares of Altus Group exceeded their 200-day moving average, trading at C$60.45 as of Thursday, indicating positive momentum.
• Wall Street analysts have upgraded Altus Group's ratings, with National Bank Financial recommending it as a "strong-buy" and raising their target price to C$74.00.
• The company recently announced a quarterly dividend of $0.15, resulting in an annualized yield of 1.0%, despite a notably high payout ratio of 1,049.89%.

Shares of Altus Group Limited (TSE:AIF - Get Free Report) crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of C$53.79 and traded as high as C$61.05. Altus Group shares last traded at C$60.45, with a volume of 90,322 shares.

Analyst Ratings Changes

AIF has been the subject of a number of research reports. Scotiabank increased their price target on shares of 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. National Bankshares raised Altus Group from a "sector perform" rating to an "outperform" rating and lifted their price objective for the stock from C$60.00 to C$74.00 in a report on Wednesday, August 13th. National Bank Financial upgraded Altus Group from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, August 12th. Finally, BMO Capital Markets raised their target price on Altus Group from C$60.00 to C$62.00 in a research report on Thursday, May 22nd. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and three have given a Hold rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of C$60.20.

Altus Group Stock Down 0.4%

The stock has a market capitalization of C$2.85 billion, a P/E ratio of 1,072.64, a PEG ratio of 0.96 and a beta of 0.82. The business has a 50-day simple moving average of C$55.48 and a two-hundred day simple moving average of C$53.72. 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 company also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Tuesday, September 30th will be issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 1.0%. Altus Group's dividend payout ratio is currently 1,049.89%.

Insider Buying and Selling

In other Altus Group news, Senior Officer Kimberly Carter sold 725 shares of the company's stock in a transaction dated Wednesday, May 28th. The shares were sold at an average price of C$55.00, for a total transaction of C$39,875.00. 4.05% of the stock is currently owned by company 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.