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, reaching C$47.43 and closing near C$46.99, compared with the C$45.71 average.
• Analysts have a consensus “Hold” rating with an average target price of C$55.64; recent targets ranged from C$50.00 to C$57.10.
• The company reported C$0.53 quarterly EPS on C$112.67 million in revenue and pays a C$0.60 annualized dividend, while director William Brennan purchased 15,265 shares worth about C$695,000.

Altus Group Limited (TSE:AIF - Get Free Report)'s stock price passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$45.71 and traded as high as C$47.43. Altus Group shares last traded at C$46.99, with a volume of 255,549 shares traded.

Wall Street Analyst Weigh In

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

Altus Group Stock Down 1.2%

The company has a market capitalization of C$1.61 billion, a P/E ratio of -114.61, a price-to-earnings-growth ratio of 0.96 and a beta of 0.29. The company has a 50-day moving average of C$46.59 and a two-hundred day moving average of C$45.71. The company has a quick ratio of 1.30, a current ratio of 1.09 and a debt-to-equity ratio of 83.44.

Altus Group (TSE:AIF - Get Free Report) last posted its quarterly earnings data on Thursday, August 6th. The company reported C$0.53 earnings per share (EPS) for the quarter. The business had revenue of C$112.67 million during the quarter. Altus Group had a negative return on equity of 5.13% and a negative net margin of 5.32%. On average, research analysts predict that Altus Group Limited will post 1.7263823 EPS for the current year.

Altus Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Wednesday, July 15th were given a $0.15 dividend. The ex-dividend date of this dividend was Tuesday, June 30th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.3%. Altus Group's dividend payout ratio is currently -146.34%.

Insider Activity

In other Altus Group news, Director William Brennan purchased 15,265 shares of the stock in a transaction that occurred on Monday, August 17th. The stock was bought at an average cost of C$45.53 per share, with a total value of C$695,015.45. Following the transaction, the director directly owned 3,558,335 shares in the company, valued at approximately C$162,010,992.55. The trade was a 0.43% increase in their position. 4.05% of the stock is currently 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. 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.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source