Altair Engineering (NASDAQ:ALTR) Posts Quarterly Earnings Results

Altair Engineering (NASDAQ:ALTR) issued its quarterly earnings data on Thursday. The software reported $0.36 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.51 by ($0.15), Zacks reports. Altair Engineering had a return on equity of 7.49% and a net margin of 5.10%.

Altair Engineering Stock Performance

NASDAQ ALTR opened at $111.78 on Friday. The company has a quick ratio of 3.27, a current ratio of 3.27 and a debt-to-equity ratio of 0.27. Altair Engineering has a 52-week low of $75.71 and a 52-week high of $113.12. The business’s 50-day moving average price is $109.80 and its 200 day moving average price is $101.19. The firm has a market cap of $9.51 billion, a P/E ratio of 294.17, a P/E/G ratio of 10.70 and a beta of 1.42.

Insider Buying and Selling

In related news, CRO Nelson Dias sold 22,500 shares of the firm’s stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $106.23, for a total value of $2,390,175.00. Following the completion of the sale, the executive now owns 48,437 shares in the company, valued at $5,145,462.51. This trade represents a 31.72 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Matthew Charles Brown sold 1,048 shares of the firm’s stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of $108.90, for a total transaction of $114,127.20. Following the completion of the sale, the chief financial officer now owns 55,519 shares of the company’s stock, valued at approximately $6,046,019.10. The trade was a 1.85 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 59,143 shares of company stock valued at $6,265,694 over the last quarter. 21.75% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several brokerages have issued reports on ALTR. Rosenblatt Securities raised their price objective on Altair Engineering from $88.00 to $113.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. William Blair reaffirmed a “market perform” rating on shares of Altair Engineering in a report on Thursday, October 31st. Wolfe Research lowered Altair Engineering from a “strong-buy” rating to a “hold” rating in a report on Sunday, November 3rd. Loop Capital reaffirmed a “hold” rating and set a $113.00 price objective on shares of Altair Engineering in a report on Thursday, October 31st. Finally, Royal Bank of Canada raised their price objective on Altair Engineering from $90.00 to $113.00 and gave the stock a “sector perform” rating in a report on Thursday, October 31st. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, Altair Engineering presently has a consensus rating of “Hold” and an average target price of $100.71.

Altair Engineering Company Profile

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.