Altus Group (TSE:AIF) Shares Cross Above 200 Day Moving Average - Here's Why

Altus Group Limited (TSE:AIF - Get Free Report)'s share price crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$54.99 and traded as high as C$57.76. Altus Group shares last traded at C$57.49, with a volume of 45,104 shares trading hands.

Analyst Upgrades and Downgrades

Several brokerages have commented on AIF. Royal Bank of Canada upped their target price on shares of Altus Group from C$55.00 to C$56.00 in a research report on Friday, November 8th. CIBC upped their target price on shares of Altus Group from C$52.00 to C$60.00 and gave the company a "neutral" rating in a research report on Thursday, December 19th. Five investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of C$57.11.

Altus Group Stock Up 0.5 %

The company has a market cap of C$2.66 billion, a price-to-earnings ratio of 962.83, a price-to-earnings-growth ratio of 0.96 and a beta of 0.82. The company has a current ratio of 1.41, a quick ratio of 1.30 and a debt-to-equity ratio of 57.13. The firm's fifty day moving average price is C$56.87 and its 200-day moving average price is C$54.99.

Altus Group (TSE:AIF - Get Free Report) last announced its earnings results on Thursday, November 7th. The company reported C$0.19 earnings per share for the quarter, missing analysts' consensus estimates of C$0.23 by C($0.04). Altus Group had a return on equity of 0.48% and a net margin of 0.37%. During the same quarter last year, the business earned $0.33 earnings per share. Sell-side analysts predict that Altus Group Limited will post 1.7263823 earnings per share for the current year.

Altus Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 1.04%. The ex-dividend date was Tuesday, December 31st. Altus Group's payout ratio is presently 1,000.00%.

Insider Buying and Selling

In other news, Director William Brennan sold 11,150 shares of the stock in a transaction dated Monday, December 30th. The shares were sold at an average price of C$55.45, for a total transaction of C$618,267.50. In the last ninety days, insiders purchased 48,973 shares of company stock valued at $2,790,608. Company insiders own 4.05% of the company's stock.

About Altus Group

Altus Group Limited provides asset and funds intelligence solutions for commercial real estate (CRE). The company operates through Analytics, Property Tax, and Appraisals and Development Advisory segments. The Analytics segment portfolio includes software, data analytics, market data, and consulting services; CRE asset and fund management services; ARGUS-branded, finance active-branded debt management, and valuation management solutions; technology consulting services, such as strategic advisory for front-to-back-office strategies, processes, and technology; and software services related to education, training, and implementation.