Altus Group (TSE:AIF) Stock Crosses Above 200-Day Moving Average - Time to Sell?

Key Points

• Altus Group shares crossed above their 200-day moving average on Monday, trading as high as C$46.97 before last changing hands at C$45.95. The move comes amid average volumes of 198,990 shares.
• Analyst sentiment is mixed but broadly cautious: the stock has three Buy ratings and five Hold ratings, with a consensus “Hold” and an average price target of C$55.62. Recent target changes ranged from BMO raising its target to C$54 and ATB Cormark lifting theirs to C$58, while National Bank Financial cut its target to C$45.
• The company reported recent earnings and announced a dividend, posting C$0.42 EPS on revenue of C$108.23 million for the quarter. Altus Group also declared a quarterly dividend of C$0.15 per share, implying a 1.3% annualized yield.

Altus Group Limited (TSE:AIF - Get Free Report) crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$46.78 and traded as high as C$46.97. Altus Group shares last traded at C$45.95, with a volume of 198,990 shares traded.

Wall Street Analysts Forecast Growth

AIF has been the subject of several research reports. BMO Capital Markets upped their target price on shares of Altus Group from C$48.00 to C$54.00 in a research report on Thursday, April 16th. ATB Cormark Capital Markets raised their price target on Altus Group from C$54.00 to C$58.00 and gave the company an "outperform" rating in a research report on Friday, April 17th. Finally, National Bank Financial dropped their price target on Altus Group from C$52.00 to C$45.00 and set a "sector perform" rating for the company in a research note on Wednesday, May 27th. Three investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of C$55.62.

Altus Group Price Performance

The firm has a market capitalization of C$1.64 billion, a P/E ratio of -2,297.50, a PEG ratio of 0.96 and a beta of 0.29. The business's 50-day simple moving average is C$44.42 and its 200 day simple moving average is C$46.78. The company has a quick ratio of 1.30, a current ratio of 0.71 and a debt-to-equity ratio of 52.00.

Altus Group (TSE:AIF - Get Free Report) last announced its quarterly earnings data on Thursday, May 7th. The company reported C$0.42 earnings per share for the quarter. Altus Group had a negative net margin of 3.42% and a negative return on equity of 2.76%. The firm had revenue of C$108.23 million during the quarter. Sell-side analysts forecast that Altus Group Limited will post 1.7263823 earnings per share for the current year.

Altus Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Wednesday, July 15th will be given a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date is Tuesday, June 30th. Altus Group's dividend payout ratio (DPR) is presently -3,000.00%.

Insiders Place Their Bets

In other Altus Group news, Director William Brennan purchased 2,000 shares of the stock in a transaction on Thursday, May 28th. The stock was acquired at an average cost of C$42.90 per share, with a total value of C$85,800.00. Following the completion of the purchase, the director directly owned 3,529,831 shares of the company's stock, valued at approximately C$151,429,749.90. This trade represents a 0.06% increase in their position. Insiders have acquired 190,392 shares of company stock valued at $8,052,187 over the last ninety days. Insiders own 4.05% of the company's stock.

About Altus Group

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. A part of its revenue is also derived from the United States, Europe, and the Asia Pacific.

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