Altus Group (TSE:AIF) Shares Pass Above 200 Day Moving Average - Here's What Happened

Altus Group Limited (TSE:AIF - Get Free Report)'s share price passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$51.83 and traded as high as C$53.25. Altus Group shares last traded at C$52.30, with a volume of 40,150 shares changing hands.

Analysts Set New Price Targets

Several research firms have recently weighed in on AIF. Royal Bank of Canada upped their price objective on Altus Group from C$52.00 to C$55.00 in a research note on Friday, August 9th. Scotiabank lowered their price objective on Altus Group from C$59.00 to C$51.00 and set a "sector perform" rating on the stock in a research note on Friday, August 9th. BMO Capital Markets lowered their price objective on Altus Group from C$59.00 to C$55.00 in a research note on Friday, August 9th. TD Securities lowered their price objective on Altus Group from C$65.00 to C$63.00 and set a "buy" rating on the stock in a research note on Friday, August 9th. Finally, Eight Capital upped their price objective on Altus Group from C$50.00 to C$55.00 in a research note on Wednesday, July 10th. Seven equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of C$56.33.

Altus Group Stock Performance

The firm has a market capitalization of C$2.41 billion, a P/E ratio of 871.67, a price-to-earnings-growth ratio of 0.96 and a beta of 0.82. The stock has a 50-day moving average of C$54.27 and a 200 day moving average of C$51.83. The company has a debt-to-equity ratio of 57.13, a quick ratio of 1.30 and a current ratio of 1.41.

Altus Group (TSE:AIF - Get Free Report) last released its quarterly earnings results on Thursday, August 8th. The company reported C$0.45 EPS for the quarter, topping analysts' consensus estimates of C$0.22 by C$0.23. The business had revenue of C$206.71 million for the quarter, compared to analyst estimates of C$132.50 million. Altus Group had a return on equity of 0.48% and a net margin of 0.37%. On average, research analysts anticipate that Altus Group Limited will post 1.6875773 earnings per share for the current year.

Altus Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Tuesday, October 15th will be given a $0.15 dividend. The ex-dividend date is Friday, September 27th. This represents a $0.60 dividend on an annualized basis and a yield of 1.14%. Altus Group's payout ratio is 1,000.00%.

Insider Buying and Selling at Altus Group

In other news, Director William Brennan acquired 500 shares of the firm's stock in a transaction on Tuesday, September 24th. The shares were purchased at an average cost of C$54.48 per share, for a total transaction of C$27,240.00. In related news, Director William Brennan purchased 500 shares of the business's stock in a transaction dated Tuesday, September 24th. The shares were bought at an average price of C$54.48 per share, with a total value of C$27,240.00. Also, Senior Officer Kimberly Carter sold 1,100 shares of the stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of C$54.00, for a total value of C$59,400.00. Corporate insiders own 4.04% of the company's stock.

Altus Group Company Profile

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.