Altair Engineering (ALTR) Price Target Raised to $42.00 at Needham & Company LLC

Altair Engineering (NASDAQ:ALTR) had its target price upped by Needham & Company LLC from $40.00 to $42.00 in a research report sent to investors on Thursday morning. They currently have a buy rating on the software’s stock.

A number of other brokerages have also commented on ALTR. ValuEngine upgraded Altair Engineering from a hold rating to a buy rating in a report on Monday, February 4th. Zacks Investment Research upgraded Altair Engineering from a hold rating to a buy rating and set a $32.00 price target on the stock in a report on Wednesday, January 9th. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The company has a consensus rating of Buy and an average target price of $38.57.

NASDAQ:ALTR traded up $0.88 on Thursday, reaching $39.15. The company’s stock had a trading volume of 6,739 shares, compared to its average volume of 222,166. Altair Engineering has a 1-year low of $25.28 and a 1-year high of $43.99. The company has a current ratio of 1.21, a quick ratio of 1.19 and a debt-to-equity ratio of 0.11. The stock has a market cap of $2.72 billion, a price-to-earnings ratio of 105.84 and a beta of 1.63.



In related news, Director Jan Kowal sold 8,000 shares of the company’s stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $37.62, for a total transaction of $300,960.00. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, President Brett R. Chouinard sold 4,000 shares of the company’s stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $35.61, for a total value of $142,440.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 17,000 shares of company stock worth $621,350. Corporate insiders own 38.24% of the company’s stock.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc raised its holdings in Altair Engineering by 11.4% during the third quarter. Vanguard Group Inc now owns 2,733,081 shares of the software’s stock worth $118,752,000 after acquiring an additional 280,056 shares in the last quarter. Vanguard Group Inc. raised its stake in Altair Engineering by 11.4% in the third quarter. Vanguard Group Inc. now owns 2,733,081 shares of the software’s stock valued at $118,752,000 after buying an additional 280,056 shares during the period. BlackRock Inc. raised its stake in Altair Engineering by 15.3% in the third quarter. BlackRock Inc. now owns 2,536,341 shares of the software’s stock valued at $110,204,000 after buying an additional 337,323 shares during the period. Alliancebernstein L.P. raised its stake in Altair Engineering by 870.0% in the third quarter. Alliancebernstein L.P. now owns 1,457,602 shares of the software’s stock valued at $63,333,000 after buying an additional 1,307,332 shares during the period. Finally, Polar Capital LLP bought a new stake in Altair Engineering in the fourth quarter valued at approximately $20,295,000. Institutional investors and hedge funds own 38.17% of the company’s stock.

About Altair Engineering

Altair Engineering Inc, together with its subsidiaries, provides software and cloud solutions worldwide. The company operates through two segments, Software and Client Engineering Services. Its integrated suite of multi-disciplinary computer aided engineering software optimizes design performance across various disciplines, including structures, motion, fluids, thermal management, electromagnetics, system modeling and embedded systems.

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Analyst Recommendations for Altair Engineering (NASDAQ:ALTR)

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