Altair Engineering Inc. (NASDAQ:ALTR) Given Average Rating of “Hold” by Analysts

Shares of Altair Engineering Inc. (NASDAQ:ALTR) have received a consensus recommendation of “Hold” from the six research firms that are covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating on the company. The average 12-month target price among brokerages that have covered the stock in the last year is $90.67.

Several research firms recently weighed in on ALTR. Needham & Company LLC restated a “buy” rating and set a $100.00 price target on shares of Altair Engineering in a research report on Friday, August 2nd. JPMorgan Chase & Co. lowered shares of Altair Engineering from an “overweight” rating to a “neutral” rating and set a $95.00 price target for the company. in a research note on Monday, July 15th. Finally, The Goldman Sachs Group cut shares of Altair Engineering from a “neutral” rating to a “sell” rating and lowered their price target for the stock from $85.00 to $71.00 in a report on Friday, August 2nd.

Insider Activity at Altair Engineering

In other Altair Engineering news, CAO Brian Gayle sold 1,866 shares of the stock in a transaction on Thursday, June 13th. The stock was sold at an average price of $96.57, for a total transaction of $180,199.62. Following the sale, the chief accounting officer now owns 16,557 shares in the company, valued at $1,598,909.49. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, CAO Brian Gayle sold 1,866 shares of the company’s stock in a transaction dated Thursday, June 13th. The stock was sold at an average price of $96.57, for a total transaction of $180,199.62. Following the sale, the chief accounting officer now directly owns 16,557 shares in the company, valued at $1,598,909.49. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, major shareholder Jrs Investments Llc sold 6,500 shares of the firm’s stock in a transaction that occurred on Wednesday, August 28th. The shares were sold at an average price of $89.04, for a total transaction of $578,760.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 278,735 shares of company stock worth $26,776,555. 21.75% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Handelsbanken Fonder AB increased its position in shares of Altair Engineering by 37.5% in the fourth quarter. Handelsbanken Fonder AB now owns 8,800 shares of the software’s stock worth $741,000 after purchasing an additional 2,400 shares during the last quarter. New York State Common Retirement Fund raised its position in shares of Altair Engineering by 0.5% during the 4th quarter. New York State Common Retirement Fund now owns 119,612 shares of the software’s stock valued at $10,065,000 after buying an additional 628 shares in the last quarter. Marco Investment Management LLC bought a new stake in shares of Altair Engineering during the 4th quarter worth $248,000. New York Life Investment Management LLC grew its position in Altair Engineering by 6.7% in the fourth quarter. New York Life Investment Management LLC now owns 5,982 shares of the software’s stock worth $503,000 after acquiring an additional 376 shares in the last quarter. Finally, Fisher Asset Management LLC increased its stake in Altair Engineering by 3.8% in the fourth quarter. Fisher Asset Management LLC now owns 61,470 shares of the software’s stock valued at $5,173,000 after acquiring an additional 2,278 shares during the last quarter. Institutional investors own 63.38% of the company’s stock.

Altair Engineering Trading Up 1.0 %

NASDAQ:ALTR opened at $90.36 on Tuesday. Altair Engineering has a 52 week low of $57.59 and a 52 week high of $101.39. The firm has a 50-day moving average price of $91.82 and a two-hundred day moving average price of $88.39. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.46 and a current ratio of 2.46. The firm has a market cap of $7.50 billion, a price-to-earnings ratio of 1,004.00, a price-to-earnings-growth ratio of 10.73 and a beta of 1.48.

Altair Engineering (NASDAQ:ALTR) last issued its quarterly earnings results on Thursday, August 1st. The software reported $0.16 EPS for the quarter, beating analysts’ consensus estimates of $0.15 by $0.01. The company had revenue of $148.80 million during the quarter, compared to the consensus estimate of $146.88 million. Altair Engineering had a return on equity of 7.11% and a net margin of 4.26%. Altair Engineering’s revenue was up 5.4% on a year-over-year basis. During the same period last year, the business posted ($0.15) earnings per share. On average, equities analysts expect that Altair Engineering will post 0.66 earnings per share for the current fiscal year.

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.