Altus Group (TSE:AIF) Shares Cross Above Two Hundred Day Moving Average - Time to Sell?

Key Points

• Altus Group's shares crossed above their 200-day moving average, reaching a recent trading high of C$61.23, indicating a positive trend in the stock performance.
• Analysts have upgraded Altus Group's stock rating, with National Bankshares raising their price target to C$74.00, suggesting strong investor confidence.
• The company declared a quarterly dividend of $0.15 per share, equating to an annual yield of 1.0%, reflecting its stable return to shareholders.

Altus Group Limited (TSE:AIF - Get Free Report)'s stock price passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$54.16 and traded as high as C$61.23. Altus Group shares last traded at C$60.45, with a volume of 132,154 shares changing hands.

Wall Street Analyst Weigh In

A number of research firms have weighed in on AIF. 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 upped their price objective on Altus Group from C$52.00 to C$53.00 and gave the stock a "sector perform" rating in a report on Friday, August 8th. National Bankshares upgraded Altus Group from a "sector perform" rating to an "outperform" rating and lifted their target price for the company from C$60.00 to C$74.00 in a report on Wednesday, August 13th. Finally, BMO Capital Markets boosted their price target on Altus Group from C$60.00 to C$62.00 in a research report on Thursday, May 22nd. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of C$60.20.

Altus Group Stock Up 0.1%

The firm's fifty day moving average is C$58.17 and its two-hundred day moving average is C$54.26. The firm has a market cap of C$2.57 billion, a price-to-earnings ratio of 6.83, a P/E/G ratio of 0.96 and a beta of 0.90. The company has a debt-to-equity ratio of 55.91, a current ratio of 2.09 and a quick ratio of 1.30.

Altus Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Tuesday, September 30th will be paid 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 (DPR) 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.