Altus Group (TSE:AIF) Sets New 52-Week High – What’s Next?

Altus Group Limited (TSE:AIF) reached a new 52-week high during trading on Monday . The stock traded as high as C$59.62 and last traded at C$59.62, with a volume of 547130 shares. The stock had previously closed at C$57.75.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the stock. BMO Capital Markets dropped their price objective on shares of Altus Group from C$59.00 to C$55.00 in a report on Friday, August 9th. Cormark reduced their price target on shares of Altus Group from C$63.00 to C$56.00 and set a “hold” rating on the stock in a research report on Friday, August 9th. CIBC lowered their price objective on Altus Group from C$53.00 to C$52.00 in a research report on Friday, November 8th. TD Securities reduced their target price on Altus Group from C$65.00 to C$63.00 and set a “buy” rating on the stock in a research report on Friday, August 9th. Finally, Scotiabank lowered their price target on Altus Group from C$59.00 to C$51.00 and set a “sector perform” rating for the company in a report on Friday, August 9th. Five analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Altus Group currently has a consensus rating of “Hold” and a consensus target price of C$56.22.

Altus Group Price Performance

The company has a fifty day moving average of C$54.81 and a 200-day moving average of C$52.67. The stock has a market cap of C$2.76 billion, a PE ratio of 988.00, a P/E/G 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.

Altus Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be given a dividend of $0.15 per share. The ex-dividend date is Tuesday, December 31st. This represents a $0.60 annualized dividend and a dividend yield of 1.00%. Altus Group’s dividend payout ratio is presently 1,000.00%.

Insider Activity

In related news, Director William Brennan sold 18,551 shares of Altus Group stock in a transaction on Thursday, September 26th. The stock was sold at an average price of C$55.32, for a total value of C$1,026,241.32. Over the last quarter, insiders acquired 40,489 shares of company stock valued at $2,305,015. 4.05% of the stock is currently owned by company insiders.

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.