Altus Group (TSE:AIF) Shares Pass Above 200-Day Moving Average – Here’s Why

Shares of Altus Group Limited (TSE:AIF) crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of C$53.79 and traded as high as C$61.05. Altus Group shares last traded at C$60.45, with a volume of 90,322 shares.

Wall Street Analysts Forecast Growth

AIF has been the subject of a number of research reports. National Bank Financial raised Altus Group from a “hold” rating to a “strong-buy” rating in a report on Tuesday, August 12th. National Bankshares raised Altus Group from a “sector perform” rating to an “outperform” rating and lifted their target price for the stock from C$60.00 to C$74.00 in a report on Wednesday, August 13th. BMO Capital Markets lifted their target price on Altus Group from C$60.00 to C$62.00 in a report on Thursday, May 22nd. Finally, Scotiabank boosted their price target on Altus Group from C$52.00 to C$53.00 and gave the company a “sector perform” rating in a report on Friday, August 8th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of C$60.20.

Altus Group Stock Performance

The company has a debt-to-equity ratio of 55.91, a current ratio of 2.09 and a quick ratio of 1.30. The firm has a fifty day simple moving average of C$55.29 and a 200 day simple moving average of C$53.79. The company has a market capitalization of C$2.81 billion, a price-to-earnings ratio of 1,057.76, a price-to-earnings-growth ratio of 0.96 and a beta of 0.82.

Altus Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Tuesday, September 30th will be issued a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 1.0%. Altus Group’s payout ratio is currently 1,049.89%.

Insider Buying and Selling

In other Altus Group news, Senior Officer Kimberly Carter sold 725 shares of the firm’s stock in a transaction that occurred on Wednesday, May 28th. The stock was sold at an average price of C$55.00, for a total value of C$39,875.00. Insiders own 4.05% of the company’s stock.

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.