Altus Group (TSE:AIF) Share Price Crosses Above Two Hundred Day Moving Average – Here’s What Happened

Altus Group Limited (TSE:AIF) crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$56.46 and traded as high as C$57.35. Altus Group shares last traded at C$56.81, with a volume of 120,319 shares.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. CIBC increased their price target on Altus Group from C$54.00 to C$62.00 in a research note on Monday, November 24th. TD Securities lowered their target price on Altus Group from C$70.00 to C$67.00 and set a “buy” rating for the company in a report on Friday, November 7th. Royal Bank Of Canada cut their price target on Altus Group from C$58.00 to C$56.00 and set a “sector perform” rating on the stock in a research note on Friday, November 7th. BMO Capital Markets lifted their price target on Altus Group from C$57.00 to C$61.00 in a research note on Friday, December 5th. Finally, National Bankshares downgraded Altus Group from an “outperform” rating to a “sector perform” rating and lowered their price objective for the company from C$74.00 to C$52.00 in a research note on Friday, November 7th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, Altus Group has a consensus rating of “Moderate Buy” and an average target price of C$59.86.

Altus Group Price Performance

The stock has a market cap of C$2.46 billion, a P/E ratio of 6.35, a price-to-earnings-growth ratio of 0.96 and a beta of 0.59. The business has a 50-day simple moving average of C$54.73 and a 200 day simple moving average of C$56.46. The company has a current ratio of 2.09, a quick ratio of 1.30 and a debt-to-equity ratio of 55.91.

Altus Group (TSE:AIF) last posted its quarterly earnings data on Thursday, November 6th. The company reported C$0.38 EPS for the quarter. Altus Group had a return on equity of 0.43% and a net margin of 0.36%.The company had revenue of C$133.32 million for the quarter. On average, analysts forecast that Altus Group Limited will post 1.7263823 earnings per share for the current year.

Insider Buying and Selling

In other news, Director William Brennan sold 93,975 shares of the company’s stock in a transaction on Wednesday, November 26th. The shares were sold at an average price of C$53.99, for a total value of C$5,073,710.25. Following the sale, the director directly owned 2,364,956 shares of the company’s stock, valued at approximately C$127,683,974.44. This represents a 3.82% decrease in their position. Also, Director Michael Gordon acquired 10,290 shares of the firm’s stock in a transaction dated Tuesday, November 11th. The shares were purchased at an average price of C$50.15 per share, with a total value of C$516,043.50. Following the completion of the transaction, the director owned 16,290 shares of the company’s stock, valued at C$816,943.50. This trade represents a 171.50% increase in their ownership of the stock. Insiders bought a total of 176,789 shares of company stock worth $9,403,085 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.