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

Key Points

• Altus Group shares moved above their 200-day moving average, reaching C$47.84 before last trading at C$45.44 on volume of 91,612 shares.
• Analysts raised price targets, with an average target of C$55.64, but the consensus rating remains “Hold” based on three Buy and four Hold ratings.
• The company reported quarterly EPS of C$0.53 on C$112.67 million in revenue and maintains a quarterly dividend of C$0.15 per share, although it posted negative margins and return on equity.

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$45.45 and traded as high as C$47.84. Altus Group shares last traded at C$45.44, with a volume of 91,612 shares changing hands.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. ATB Cormark Capital Markets raised their price objective on shares of Altus Group from C$56.00 to C$57.10 and gave the company an "outperform" rating in a research report on Friday, August 7th. National Bank Financial increased their target price on shares of Altus Group from C$41.00 to C$50.00 and gave the company a "sector perform" rating in a research note on Friday, August 7th. Finally, BMO Capital Markets increased their target price on shares of Altus Group from C$41.00 to C$50.00 and gave the company a "sector perform" rating in a research note on Friday, August 7th. Three investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of C$55.64.

Altus Group Stock Down 5.3%

The stock has a fifty day moving average of C$46.10 and a 200-day moving average of C$45.45. The firm has a market capitalization of C$1.56 billion, a price-to-earnings ratio of -110.83, a PEG ratio of 0.96 and a beta of 0.29. The company has a current ratio of 1.09, a quick ratio of 1.30 and a debt-to-equity ratio of 83.44.

Altus Group (TSE:AIF - Get Free Report) last announced its earnings results on Thursday, August 6th. The company reported C$0.53 EPS for the quarter. Altus Group had a negative return on equity of 5.13% and a negative net margin of 5.32%.The business had revenue of C$112.67 million during the quarter. As a group, sell-side analysts expect that Altus Group Limited will post 1.7263823 EPS for the current year.

Altus Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Wednesday, July 15th were issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 1.3%. The ex-dividend date was Tuesday, June 30th. Altus Group's payout ratio is presently -146.34%.

Insider Buying and Selling

In other news, Director William Brennan bought 2,000 shares of the firm's stock in a transaction on Thursday, May 28th. The stock was bought at an average cost of C$42.90 per share, for a total transaction of C$85,800.00. Following the completion of the acquisition, the director directly owned 3,529,831 shares in the company, valued at C$151,429,749.90. This represents a 0.06% increase in their position. Insiders have bought 19,733 shares of company stock worth $850,066 over the last ninety days. 4.05% of the stock is currently owned by corporate insiders.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

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