Altus Group (TSE:AIF) Stock Price Breaks Above Two Hundred Day Moving Average - What's Next?

Key Points

• Altus Group shares broke above their 200-day moving average, reaching C$49.01 before closing at C$48.31, compared with the 200-day average of C$46.03.
• Analyst sentiment remains mixed: three analysts rate the stock a Buy and four rate it a Hold, resulting in an average Hold rating and a consensus price target of C$55.64.
• Insiders have been buying shares, with directors acquiring more than 63,000 shares worth approximately C$2.87 million over the past 90 days.

Altus Group Limited (TSE:AIF - Get Free Report) passed above its 200-day moving average during trading on Tuesday. The stock has a 200-day moving average of C$46.03 and traded as high as C$49.01. Altus Group shares last traded at C$48.31, with a volume of 197,307 shares changing hands.

Wall Street Analysts Forecast Growth

AIF has been the topic of several research reports. ATB Cormark Capital Markets upped their price target on 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 lifted their price objective on shares of Altus Group from C$41.00 to C$50.00 and gave the stock a "sector perform" rating in a report on Friday, August 7th. Finally, BMO Capital Markets boosted 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 assigned a Hold rating to the company's stock. According to data from MarketBeat.com, Altus Group has an average rating of "Hold" and a consensus target price of C$55.64.

Altus Group Price Performance

The company has a market capitalization of C$1.65 billion, a P/E ratio of -117.83, a price-to-earnings-growth ratio of 0.96 and a beta of 0.40. The company has a fifty day moving average price of C$46.48 and a 200 day moving average price of C$46.03. The company has a debt-to-equity ratio of 83.44, a current ratio of 1.09 and a quick ratio of 1.30.

Altus Group (TSE:AIF - Get Free Report) last announced its quarterly earnings results on Thursday, August 6th. The company reported C$0.53 earnings per share for the quarter. The business had revenue of C$112.67 million for the quarter. Altus Group had a negative return on equity of 5.13% and a negative net margin of 5.32%. On average, sell-side analysts forecast that Altus Group Limited will post 1.73 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Michael Gordon acquired 5,000 shares of the stock in a transaction that occurred on Tuesday, September 22nd. The stock was purchased at an average cost of C$44.36 per share, for a total transaction of C$221,800.00. Following the purchase, the director directly owned 46,940 shares in the company, valued at C$2,082,258.40. This represents a 11.92% increase in their ownership of the stock. Also, Director William Brennan bought 15,265 shares of the company's stock in a transaction on Monday, August 17th. The stock was bought at an average cost of C$45.53 per share, for a total transaction of C$695,015.45. Following the completion of the transaction, the director directly owned 3,558,335 shares of the company's stock, valued at C$162,010,992.55. This trade represents a 0.43% increase in their ownership of the stock. Over the last 90 days, insiders have purchased 63,208 shares of company stock valued at $2,865,356. 4.05% of the stock is owned by company 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.

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