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

Shares of Altair Engineering Inc. (NASDAQ:ALTR) have been given a consensus recommendation of “Hold” by the nine ratings firms that are covering the stock, Marketbeat.com reports. One analyst has rated the stock with a sell rating, seven have given a hold rating and one has issued a buy rating on the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $100.71.

A number of analysts recently issued reports on the stock. Rosenblatt Securities increased their target price on shares of Altair Engineering from $88.00 to $113.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. Needham & Company LLC reaffirmed a “hold” rating on shares of Altair Engineering in a research report on Friday. Wolfe Research downgraded 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 increased their price objective 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. Finally, Loop Capital reaffirmed a “hold” rating and issued a $113.00 price objective on shares of Altair Engineering in a research report on Thursday, October 31st.

Insider Activity

In related news, CFO Matthew Charles Brown sold 1,048 shares of the firm’s stock in a transaction on Monday, December 23rd. The stock was sold at an average price of $108.90, for a total transaction of $114,127.20. Following the transaction, the chief financial officer now directly owns 55,519 shares in the company, valued at $6,046,019.10. This trade represents a 1.85 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO James Ralph Scapa sold 13,000 shares of the firm’s stock in a transaction on Friday, November 29th. The stock was sold at an average price of $105.69, for a total value of $1,373,970.00. Following the transaction, the chief executive officer now owns 134,045 shares in the company, valued at $14,167,216.05. This trade represents 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 sold 59,143 shares of company stock worth $6,265,694. 21.75% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Altair Engineering

Large investors have recently added to or reduced their stakes in the company. Magnetar Financial LLC acquired a new stake in Altair Engineering in the fourth quarter worth $62,142,000. Norges Bank acquired a new stake in Altair Engineering in the fourth quarter worth $37,899,000. Schonfeld Strategic Advisors LLC increased its position in Altair Engineering by 13,097.8% in the fourth quarter. Schonfeld Strategic Advisors LLC now owns 331,528 shares of the software’s stock worth $36,173,000 after buying an additional 329,016 shares during the period. Vanguard Group Inc. increased its position in Altair Engineering by 4.8% in the fourth quarter. Vanguard Group Inc. now owns 6,894,230 shares of the software’s stock worth $752,229,000 after buying an additional 317,575 shares during the period. Finally, Woodline Partners LP acquired a new stake in Altair Engineering in the fourth quarter worth $32,733,000. 63.38% of the stock is currently owned by institutional investors.

Altair Engineering Trading Up 0.0 %

NASDAQ:ALTR traded up $0.05 on Friday, reaching $111.83. The stock had a trading volume of 417,020 shares, compared to its average volume of 778,877. Altair Engineering has a 12-month low of $75.71 and a 12-month high of $113.12. The firm’s fifty day moving average is $109.80 and its two-hundred day moving average is $101.19. The company has a debt-to-equity ratio of 0.27, a current ratio of 3.27 and a quick ratio of 3.27. The company has a market cap of $9.51 billion, a price-to-earnings ratio of 294.28, a P/E/G ratio of 10.70 and a beta of 1.42.

Altair Engineering (NASDAQ:ALTR) last posted its quarterly earnings data on Thursday, February 20th. The software reported $0.36 EPS for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.15). Altair Engineering had a net margin of 5.10% and a return on equity of 7.49%. The company had revenue of $192.63 million for the quarter, compared to analyst estimates of $182.98 million. Equities analysts expect that Altair Engineering will post 0.75 EPS for the current fiscal year.

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.