Altair Engineering Inc. (NASDAQ:ALTR) Given Consensus Recommendation of “Hold” by Brokerages

Shares of Altair Engineering Inc. (NASDAQ:ALTR) have earned a consensus rating of “Hold” from the five ratings firms that are presently covering the company, MarketBeat Ratings reports. Three analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $94.60.

Several equities research analysts have recently weighed in on ALTR shares. Needham & Company LLC reissued a “buy” rating and issued a $100.00 target price on shares of Altair Engineering in a research note on Friday. JPMorgan Chase & Co. downgraded shares of Altair Engineering from an “overweight” rating to a “neutral” rating and set a $95.00 target price on the stock. in a research note on Monday, July 15th. Rosenblatt Securities reissued a “neutral” rating and issued a $88.00 target price on shares of Altair Engineering in a research note on Monday, April 29th. Finally, The Goldman Sachs Group downgraded shares of Altair Engineering from a “neutral” rating to a “sell” rating and reduced their target price for the company from $85.00 to $71.00 in a research note on Friday.

Altair Engineering Price Performance

ALTR stock opened at $85.32 on Friday. Altair Engineering has a 52 week low of $57.59 and a 52 week high of $101.39. The company has a quick ratio of 2.46, a current ratio of 2.46 and a debt-to-equity ratio of 0.30. The company has a fifty day simple moving average of $93.54 and a two-hundred day simple moving average of $88.16. The firm has a market capitalization of $7.08 billion, a P/E ratio of 948.00, a price-to-earnings-growth ratio of 11.11 and a beta of 1.48.

Altair Engineering (NASDAQ:ALTR) last released its quarterly earnings data on Thursday, May 2nd. The software reported $0.40 EPS for the quarter, beating the consensus estimate of $0.34 by $0.06. Altair Engineering had a net margin of 1.55% and a return on equity of 5.60%. The business had revenue of $172.91 million during the quarter, compared to analyst estimates of $169.29 million. During the same quarter last year, the business earned $0.13 earnings per share. Altair Engineering’s quarterly revenue was up 4.1% compared to the same quarter last year. Analysts anticipate that Altair Engineering will post 0.66 earnings per share for the current fiscal year.

Insider Transactions at Altair Engineering

In other news, CAO Brian Gayle sold 773 shares of Altair Engineering stock in a transaction that occurred on Friday, May 17th. The shares were sold at an average price of $90.10, for a total value of $69,647.30. Following the transaction, the chief accounting officer now owns 18,423 shares of the company’s stock, valued at approximately $1,659,912.30. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, CAO Brian Gayle sold 773 shares of Altair Engineering stock in a transaction that occurred on Friday, May 17th. The shares were sold at an average price of $90.10, for a total value of $69,647.30. Following the transaction, the chief accounting officer now owns 18,423 shares of the company’s stock, valued at approximately $1,659,912.30. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Teresa A. Harris sold 620 shares of Altair Engineering stock in a transaction that occurred on Tuesday, May 7th. The stock was sold at an average price of $82.89, for a total transaction of $51,391.80. Following the completion of the transaction, the director now directly owns 18,895 shares in the company, valued at approximately $1,566,206.55. The disclosure for this sale can be found here. Insiders have sold a total of 486,754 shares of company stock valued at $45,114,245 in the last 90 days. Insiders own 21.75% of the company’s stock.

Institutional Trading of Altair Engineering

Several large investors have recently bought and sold shares of ALTR. EdgeRock Capital LLC purchased a new stake in Altair Engineering during the 4th quarter worth approximately $33,000. GAMMA Investing LLC grew its position in Altair Engineering by 81.7% during the 2nd quarter. GAMMA Investing LLC now owns 418 shares of the software’s stock worth $41,000 after purchasing an additional 188 shares during the last quarter. FSC Wealth Advisors LLC grew its position in Altair Engineering by 41.3% during the 2nd quarter. FSC Wealth Advisors LLC now owns 832 shares of the software’s stock worth $82,000 after purchasing an additional 243 shares during the last quarter. Harvest Fund Management Co. Ltd boosted its holdings in shares of Altair Engineering by 1,157.7% in the 4th quarter. Harvest Fund Management Co. Ltd now owns 981 shares of the software’s stock valued at $83,000 after acquiring an additional 903 shares during the last quarter. Finally, Van ECK Associates Corp boosted its holdings in shares of Altair Engineering by 41.7% in the 2nd quarter. Van ECK Associates Corp now owns 1,057 shares of the software’s stock valued at $104,000 after acquiring an additional 311 shares during the last quarter. Hedge funds and other institutional investors own 63.38% of the company’s stock.

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.