Altus Group (TSE:AIF) Stock Price Passes Above 200-Day Moving Average – Here’s What Happened

Shares of Altus Group Limited (TSE:AIF) crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$45.52 and traded as high as C$47.62. Altus Group shares last traded at C$45.57, with a volume of 128,602 shares changing hands.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the stock. ATB Cormark Capital Markets increased their price target on shares of Altus Group from C$56.00 to C$57.10 and gave the stock an “outperform” rating in a research note on Friday. National Bank Financial upped 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. Finally, BMO Capital Markets raised 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. Three equities research 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 currently has a consensus rating of “Hold” and an average price target of C$55.64.

Altus Group Price Performance

The firm has a fifty day moving average price of C$45.78 and a two-hundred day moving average price of C$45.57. The company has a quick ratio of 1.30, a current ratio of 0.71 and a debt-to-equity ratio of 52.00. The stock has a market capitalization of C$1.88 billion, a P/E ratio of -2,621.50, a P/E/G ratio of 0.96 and a beta of 0.29.

Altus Group (TSE:AIF) last announced its quarterly earnings results on Thursday, August 6th. The company reported C$0.53 earnings per share (EPS) for the quarter. Altus Group had a negative net margin of 3.42% and a negative return on equity of 2.76%. The company had revenue of C$112.67 million for the quarter. On average, analysts expect that Altus Group Limited will post 1.7263823 EPS for the current year.

Altus Group Announces Dividend

The company also recently announced 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 annualized dividend and a dividend yield of 1.1%. The ex-dividend date was Tuesday, June 30th. Altus Group’s dividend payout ratio is currently -3,000.00%.

Insider Activity at Altus Group

In other news, Director William Brennan purchased 2,000 shares of the business’s stock in a transaction dated Thursday, May 28th. The shares were purchased at an average price 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 purchased a total of 190,392 shares of company stock worth $8,052,187 in the last 90 days. Corporate insiders own 4.05% of the company’s stock.

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.