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

Key Points

• Altus Group Limited's stock recently crossed above its 200-day moving average of C$54.65, with a high of C$59.05 during trading, closing at C$58.50.
• Analysts have upgraded Altus Group's ratings, with National Bankraising their target price from C$60.00 to C$74.00 and classifying it as an "outperform."
• The company also announced a quarterly dividend of $0.15 per share, with an ex-dividend date of September 29th, reflecting a dividend yield of 1.0%.

Altus Group Limited (TSE:AIF - Get Free Report) passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$54.65 and traded as high as C$59.05. Altus Group shares last traded at C$58.50, with a volume of 165,861 shares.

Analysts Set New Price Targets

AIF has been the topic of several recent analyst reports. National Bankshares upgraded shares of Altus Group from a "sector perform" rating to an "outperform" rating and increased their target price for the stock from C$60.00 to C$74.00 in a research note on Wednesday, August 13th. 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. Finally, Scotiabank increased their target price 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. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of C$60.20.

Altus Group Stock 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 company's fifty day moving average is C$59.02 and its 200 day moving average is C$54.65. The company has a market cap of C$2.52 billion, a P/E ratio of 6.69, a price-to-earnings-growth ratio of 0.96 and a beta of 0.90.

Altus Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Wednesday, October 15th will be issued a dividend of $0.15 per share. The ex-dividend date of this dividend is Monday, September 29th. This represents a $0.60 annualized dividend and a dividend 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.

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