Altus Group (TSE:AIF) Share Price Crosses Above 200-Day Moving Average - What's Next?

Key Points

• Altus Group's stock price recently surpassed its 200-day moving average of C$53.72, trading as high as C$58.50, with a closing price of C$58.05.
• Equities analysts have mixed views on the stock, with BMO Capital Markets increasing their target price to C$62.00, while Royal Bank of Canada and CIBC have lowered their price targets.
• The company announced a quarterly dividend of $0.15 per share, reflecting a 1.0% dividend yield, but also has a high payout ratio of 1,049.89%.

Shares of Altus Group Limited (TSE:AIF - Get Free Report) passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$53.72 and traded as high as C$58.50. Altus Group shares last traded at C$58.05, with a volume of 162,247 shares changing hands.

Analyst Ratings Changes

Several brokerages have commented on AIF. BMO Capital Markets raised their price target on shares of Altus Group from C$60.00 to C$62.00 in a research report on Thursday, May 22nd. Royal Bank Of Canada decreased their price target on shares of Altus Group from C$62.00 to C$58.00 and set a "sector perform" rating for the company in a research report on Tuesday, April 22nd. Finally, CIBC decreased their price target on shares of Altus Group from C$57.00 to C$54.00 in a research report on Thursday, April 17th. Four investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of C$57.00.

Altus Group Stock Performance

The company has a debt-to-equity ratio of 55.91, a current ratio of 2.09 and a quick ratio of 1.30. The company has a market capitalization of C$2.70 billion, a price-to-earnings ratio of 1,015.77, a price-to-earnings-growth ratio of 0.96 and a beta of 0.82. The business's 50 day simple moving average is C$53.98 and its 200 day simple moving average is C$53.71.

Altus Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th were issued a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 1.0%. Altus Group's payout ratio is 1,049.89%.

Insider Activity

In other news, Senior Officer Kimberly Carter sold 725 shares of Altus Group stock in a transaction dated Wednesday, May 28th. The shares were sold at an average price of C$55.00, for a total value of C$39,875.00. Also, Director Anthony Long sold 3,000 shares of Altus Group stock in a transaction dated Wednesday, May 21st. The shares were sold at an average price of C$56.16, for a total transaction of C$168,468.00. 4.05% of the stock is owned by insiders.

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.