Altus Group (TSE:AIF) Stock Price Passes Above 200 Day Moving Average - Should You Sell?

Key Points

• Altus Group shares briefly moved above their 200-day moving average of C$46.14, reaching C$46.71 before trading at C$45.68, down 2.5%.
• Analysts raised their price targets, with estimates ranging from C$50.00 to C$57.10; however, the overall analyst consensus remains “Hold”, with an average target of C$55.64.
• The company reported quarterly EPS of C$0.53 on revenue of C$112.67 million and declared a C$0.15 quarterly dividend, but it continues to show negative net margins and return on equity. A director also purchased 15,265 shares at an average price of C$45.53.

Altus Group Limited (TSE:AIF - Get Free Report)'s stock price crossed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of C$46.14 and traded as high as C$46.71. Altus Group shares last traded at C$45.68, with a volume of 74,107 shares changing hands.

Analyst Ratings Changes

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

Altus Group Trading Down 2.5%

The firm has a market capitalization of C$1.56 billion, a P/E ratio of -111.41, a PEG ratio of 0.96 and a beta of 0.46. The business's 50 day moving average is C$46.87 and its two-hundred day moving average is C$46.14. 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 announced its earnings results on Thursday, August 6th. The company reported C$0.53 earnings per share (EPS) for the quarter. The firm had revenue of C$112.67 million during the quarter. Altus Group had a negative net margin of 5.32% and a negative return on equity of 5.13%. Analysts expect that Altus Group Limited will post 1.7263823 EPS for the current year.

Altus Group Dividend Announcement

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

Insider Activity

In related news, Director William Brennan acquired 15,265 shares of the firm's stock in a transaction dated Monday, August 17th. The stock was acquired at an average cost of C$45.53 per share, for a total transaction of C$695,015.45. Following the completion of the acquisition, the director directly owned 3,558,335 shares of the company's stock, valued at approximately C$162,010,992.55. The trade was a 0.43% increase in their position. 4.05% of the stock is owned by company 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.

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