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

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%.

Altus Group Limited (TSE:AIF - Get Free Report)'s share price passed above its 200-day moving average during trading on Thursday . The stock has a 200-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.

Analysts Set New Price Targets

A number of brokerages recently issued reports on AIF. BMO Capital Markets lifted their price target on shares of Altus Group from C$60.00 to C$62.00 in a research note on Thursday, May 22nd. Scotiabank lifted their price target on shares of Altus Group from C$52.00 to C$53.00 and gave the stock a "sector perform" rating in a research note on Friday, August 8th. National Bankshares upgraded shares of Altus Group from a "sector perform" rating to an "outperform" rating and lifted their price target for the stock from C$60.00 to C$74.00 in a research note on Wednesday, August 13th. 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 equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, Altus Group has an average rating of "Moderate Buy" and an average price target of C$60.20.

Altus Group Stock Up 0.4%

The firm has a market cap of C$2.86 billion, a PE ratio of 1,074.04, a P/E/G ratio of 0.96 and a beta of 0.82. 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 firm's 50-day moving average price is C$56.00 and its two-hundred day moving average price is C$53.84.

Altus Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Tuesday, September 30th will be given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 1.0%. Altus Group's dividend payout ratio is presently 1,049.89%.

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.