Altus Group (TSE:AIF) Hits New 52-Week High After Analyst Upgrade

Altus Group Limited (TSE:AIF) shares hit a new 52-week high during mid-day trading on Friday after TD Securities raised their price target on the stock from C$63.00 to C$70.00. TD Securities currently has a buy rating on the stock. Altus Group traded as high as C$62.10 and last traded at C$62.11, with a volume of 118116 shares trading hands. The stock had previously closed at C$60.83.

Several other analysts have also issued reports on the company. Scotiabank boosted their target price on Altus Group from C$52.00 to C$53.00 and gave the company a “sector perform” rating in a research note on Friday, August 8th. National Bankshares upgraded Altus Group from a “sector perform” rating to an “outperform” rating and boosted their target price for the company from C$60.00 to C$74.00 in a research note on Wednesday, August 13th. Finally, National Bank Financial upgraded Altus Group from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, August 12th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, Altus Group presently has a consensus rating of “Moderate Buy” and an average target price of C$61.83.

Altus Group Price Performance

The firm has a market capitalization of C$2.69 billion, a P/E ratio of 7.13, a price-to-earnings-growth ratio of 0.96 and a beta of 0.90. The company has a debt-to-equity ratio of 55.91, a quick ratio of 1.30 and a current ratio of 2.09. The business has a 50 day simple moving average of C$59.44 and a two-hundred day simple moving average of C$54.86.

Altus Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Wednesday, October 15th will be paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date is Monday, September 29th. Altus Group’s dividend payout ratio is currently 6.86%.

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.