Altus Group (TSE:AIF) Shares Pass Above 200 Day Moving Average - Here's Why

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) shares crossed 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.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on AIF. National Bankshares upgraded Altus Group from a "sector perform" rating to an "outperform" rating and raised their price objective for the stock from C$60.00 to C$74.00 in a research report on Wednesday, August 13th. Scotiabank raised their price objective on Altus Group from C$52.00 to C$53.00 and gave the stock a "sector perform" rating in a research report on Friday, August 8th. National Bank Financial upgraded Altus Group from a "hold" rating to a "strong-buy" rating in a report on Tuesday, August 12th. Finally, BMO Capital Markets lifted their target price on Altus Group from C$60.00 to C$62.00 in a report on Thursday, May 22nd. One investment 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 stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of C$60.20.

Altus Group Stock Performance

The firm has a market capitalization of C$2.61 billion, a P/E ratio of 6.92, a P/E/G ratio of 0.96 and a beta of 0.90. The stock has a fifty day simple moving average of C$57.78 and a two-hundred day simple moving average of C$54.16. 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 Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Tuesday, September 30th will be paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 1.0%. Altus Group's dividend payout ratio (DPR) is presently 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.

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