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

Altair Engineering Inc. (NASDAQ:ALTR) has received an average rating of “Hold” from the nine brokerages that are presently covering the company, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, seven have assigned a hold recommendation and one has issued a buy recommendation on the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $100.71.

Several research firms have issued reports on ALTR. Needham & Company LLC restated a “hold” rating and set a $100.00 target price on shares of Altair Engineering in a research note on Thursday, October 31st. William Blair restated a “market perform” rating on shares of Altair Engineering in a report on Thursday, October 31st. Loop Capital reiterated a “hold” rating and set a $113.00 target price on shares of Altair Engineering in a research note on Thursday, October 31st. Rosenblatt Securities increased their price target on Altair Engineering from $88.00 to $113.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. Finally, Royal Bank of Canada upped their price objective on Altair Engineering from $90.00 to $113.00 and gave the company a “sector perform” rating in a research report on Thursday, October 31st.

Insider Buying and Selling at Altair Engineering

In other Altair Engineering news, major shareholder George J. Christ sold 49,952 shares of the company’s stock in a transaction that occurred on Wednesday, October 9th. The shares were sold at an average price of $95.72, for a total value of $4,781,405.44. Following the completion of the transaction, the insider now directly owns 100,000 shares in the company, valued at $9,572,000. This represents a 33.31 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Teresa A. Harris sold 620 shares of the firm’s stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $104.10, for a total transaction of $64,542.00. Following the sale, the director now owns 21,242 shares in the company, valued at $2,211,292.20. The trade was a 2.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 331,399 shares of company stock valued at $33,519,513. Company insiders own 21.75% of the company’s stock.

Institutional Investors Weigh In On Altair Engineering

A number of institutional investors have recently bought and sold shares of ALTR. Conestoga Capital Advisors LLC lifted its position in shares of Altair Engineering by 1.4% in the third quarter. Conestoga Capital Advisors LLC now owns 2,522,551 shares of the software’s stock valued at $240,929,000 after acquiring an additional 33,985 shares in the last quarter. State Street Corp lifted its holdings in Altair Engineering by 3.3% in the 3rd quarter. State Street Corp now owns 2,053,957 shares of the software’s stock worth $196,173,000 after purchasing an additional 65,589 shares in the last quarter. Geode Capital Management LLC boosted its stake in Altair Engineering by 3.9% in the 3rd quarter. Geode Capital Management LLC now owns 1,423,880 shares of the software’s stock worth $136,020,000 after purchasing an additional 53,088 shares during the period. William Blair Investment Management LLC purchased a new stake in Altair Engineering during the 2nd quarter valued at approximately $91,589,000. Finally, Candriam S.C.A. raised its position in shares of Altair Engineering by 28.9% during the second quarter. Candriam S.C.A. now owns 560,565 shares of the software’s stock valued at $54,978,000 after buying an additional 125,816 shares during the last quarter. Hedge funds and other institutional investors own 63.38% of the company’s stock.

Altair Engineering Stock Up 0.3 %

ALTR stock opened at $109.65 on Monday. The stock has a market capitalization of $9.33 billion, a P/E ratio of 288.56, a P/E/G ratio of 12.16 and a beta of 1.44. The company has a debt-to-equity ratio of 0.27, a current ratio of 3.27 and a quick ratio of 3.27. Altair Engineering has a 1-year low of $75.71 and a 1-year high of $113.12. The business has a fifty day moving average price of $106.12 and a 200-day moving average price of $97.37.

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.