Altus Group (TSE:AIF) Share Price Breaks 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 Tuesday. The stock has a 200-day moving average of C$46.03 and traded as high as C$49.01. Altus Group shares last traded at C$48.31, with a volume of 197,307 shares changing hands.

Analyst Upgrades and Downgrades

AIF has been the topic of several analyst reports. BMO Capital Markets upped their price objective on Altus Group from C$41.00 to C$50.00 and gave the company a “sector perform” rating in a research note on Friday, August 7th. ATB Cormark Capital Markets boosted their price target on Altus Group from C$56.00 to C$57.10 and gave the company an “outperform” rating in a research note on Friday, August 7th. Finally, National Bank Financial boosted their price target on Altus Group from C$50.00 to C$55.00 and gave the company a “sector perform” rating in a research note on Wednesday. Three research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, Altus Group has a consensus rating of “Hold” and an average target price of C$56.26.

Altus Group Stock Up 4.0%

The firm has a market cap of C$1.75 billion, a price-to-earnings ratio of -124.39, a PEG ratio of 0.96 and a beta of 0.40. The company has a debt-to-equity ratio of 83.44, a quick ratio of 1.30 and a current ratio of 1.09. The business’s 50-day moving average is C$46.55 and its 200-day moving average is C$46.07.

Altus Group (TSE:AIF) last released its quarterly earnings results on Thursday, August 6th. The company reported C$0.53 EPS for the quarter. The firm had revenue of C$112.67 million for the quarter. Altus Group had a negative net margin of 5.32% and a negative return on equity of 5.13%. On average, equities analysts predict that Altus Group Limited will post 1.73 EPS for the current year.

Insider Buying and Selling

In other Altus Group news, Director Michael Gordon purchased 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 22nd. The shares were acquired at an average cost of C$44.36 per share, for a total transaction of C$221,800.00. Following the transaction, the director directly owned 46,940 shares in the company, valued at approximately C$2,082,258.40. The trade was a 11.92% increase in their ownership of the stock. Also, Director William Brennan purchased 15,265 shares of the firm’s stock in a transaction that occurred on Monday, August 17th. The shares were acquired at an average price of C$45.53 per share, for a total transaction of C$695,015.45. Following the completion of the transaction, the director owned 3,558,335 shares in the company, valued at C$162,010,992.55. The trade was a 0.43% increase in their ownership of the stock. Insiders bought 63,208 shares of company stock valued at $2,865,356 in the last quarter. 4.05% of the stock is currently owned by corporate insiders.

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.