Altair Engineering Inc. (NASDAQ:ALTR) Receives Consensus Recommendation of “Hold” from Analysts

Altair Engineering Inc. (NASDAQ:ALTR) has received an average rating of “Hold” from the nine research firms that are presently covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, seven have assigned a hold recommendation and one has assigned a buy recommendation to the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $100.71.

A number of brokerages have weighed in on ALTR. Wolfe Research cut shares of Altair Engineering from a “strong-buy” rating to a “hold” rating in a research report on Sunday, November 3rd. Royal Bank of Canada lifted their price target on shares of Altair Engineering from $90.00 to $113.00 and gave the company a “sector perform” rating in a research report on Thursday, October 31st. William Blair reiterated a “market perform” rating on shares of Altair Engineering in a research report on Thursday, October 31st. Needham & Company LLC reiterated a “hold” rating on shares of Altair Engineering in a research report on Friday. Finally, Rosenblatt Securities lifted their price target on shares of Altair Engineering from $88.00 to $113.00 and gave the company a “neutral” rating in a research report on Thursday, October 31st.

Altair Engineering Trading Up 0.0 %

Altair Engineering stock traded up $0.05 during midday trading on Friday, hitting $111.83. 417,020 shares of the stock were exchanged, compared to its average volume of 778,877. Altair Engineering has a fifty-two week low of $75.71 and a fifty-two week high of $113.12. The stock has a market capitalization of $9.51 billion, a price-to-earnings ratio of 294.28, a PEG ratio of 10.70 and a beta of 1.42. The stock’s 50-day simple moving average is $109.80 and its 200 day simple moving average is $101.19. The company has a current ratio of 3.27, a quick ratio of 3.27 and a debt-to-equity ratio of 0.27.

Altair Engineering (NASDAQ:ALTR) last released its quarterly earnings data on Thursday, February 20th. The software reported $0.36 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.51 by ($0.15). Altair Engineering had a return on equity of 7.49% and a net margin of 5.10%. The firm had revenue of $192.63 million for the quarter, compared to analyst estimates of $182.98 million. On average, equities analysts anticipate that Altair Engineering will post 0.75 EPS for the current year.

Insider Buying and Selling at Altair Engineering

In other Altair Engineering news, major shareholder Jrs Investments Llc sold 6,500 shares of the business’s stock in a transaction on Friday, November 29th. The shares were sold at an average price of $105.69, for a total transaction of $686,985.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO James Ralph Scapa sold 13,000 shares of the business’s stock in a transaction on Friday, November 29th. The stock was sold at an average price of $105.69, for a total transaction of $1,373,970.00. Following the sale, the chief executive officer now owns 134,045 shares in the company, valued at $14,167,216.05. The trade was a 8.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 59,143 shares of company stock valued at $6,265,694. 21.75% of the stock is owned by company insiders.

Institutional Investors Weigh In On Altair Engineering

Several institutional investors and hedge funds have recently made changes to their positions in the business. NBT Bank N A NY lifted its holdings in Altair Engineering by 76.4% in the 4th quarter. NBT Bank N A NY now owns 247 shares of the software’s stock valued at $27,000 after purchasing an additional 107 shares in the last quarter. Blue Trust Inc. lifted its holdings in Altair Engineering by 572.1% in the 3rd quarter. Blue Trust Inc. now owns 289 shares of the software’s stock valued at $28,000 after purchasing an additional 246 shares in the last quarter. UMB Bank n.a. lifted its holdings in Altair Engineering by 77.0% in the 4th quarter. UMB Bank n.a. now owns 285 shares of the software’s stock valued at $31,000 after purchasing an additional 124 shares in the last quarter. Johnson Financial Group Inc. purchased a new position in Altair Engineering in the 4th quarter valued at about $37,000. Finally, GAMMA Investing LLC lifted its holdings in Altair Engineering by 14.6% in the 4th quarter. GAMMA Investing LLC now owns 729 shares of the software’s stock valued at $80,000 after purchasing an additional 93 shares in the last quarter. 63.38% of the stock is currently owned by hedge funds and other institutional investors.

About Altair Engineering

Altair Engineering Inc, together with its subsidiaries, provides software and cloud solutions in the areas of simulation and design, high-performance computing, data analytics, and artificial intelligence in the United States and internationally. It operates in two segments, Software and Client Engineering Services.