Altair Engineering (NASDAQ:ALTR) Research Coverage Started at Goldman Sachs Group

Goldman Sachs Group started coverage on shares of Altair Engineering (NASDAQ:ALTR) in a research report released on Tuesday, The Fly reports. The brokerage issued a neutral rating and a $34.00 price objective on the software’s stock.

Other equities analysts also recently issued reports about the stock. Needham & Company LLC restated a buy rating and set a $38.00 target price on shares of Altair Engineering in a report on Friday, November 8th. Deutsche Bank downgraded shares of Altair Engineering from a buy rating to a hold rating and set a $36.00 target price on the stock. in a report on Friday, August 9th. William Blair downgraded shares of Altair Engineering from an outperform rating to a market perform rating in a report on Friday, November 8th. JPMorgan Chase & Co. lowered their target price on shares of Altair Engineering from $34.00 to $30.00 and set an underweight rating on the stock in a report on Friday, November 8th. Finally, Zacks Investment Research upgraded shares of Altair Engineering from a sell rating to a hold rating in a report on Wednesday, October 9th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the stock. The company currently has a consensus rating of Hold and an average price target of $36.95.

Altair Engineering stock traded up $0.50 during midday trading on Tuesday, hitting $28.88. 319,800 shares of the stock were exchanged, compared to its average volume of 483,169. The company has a quick ratio of 2.52, a current ratio of 2.52 and a debt-to-equity ratio of 0.57. Altair Engineering has a 52 week low of $25.28 and a 52 week high of $43.28. The stock has a market capitalization of $2.03 billion, a PE ratio of 78.05 and a beta of 1.50. The company has a fifty day simple moving average of $34.20 and a two-hundred day simple moving average of $36.57.

Altair Engineering (NASDAQ:ALTR) last issued its earnings results on Thursday, November 7th. The software reported ($0.09) earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.05 by ($0.14). The firm had revenue of $102.70 million for the quarter, compared to analyst estimates of $105.04 million. Altair Engineering had a positive return on equity of 4.40% and a negative net margin of 3.85%. Altair Engineering’s quarterly revenue was up 18.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.10 earnings per share. As a group, equities research analysts anticipate that Altair Engineering will post 0.2 EPS for the current fiscal year.

In other Altair Engineering news, major shareholder R. Scapa Declaration Of James sold 80,000 shares of Altair Engineering stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $33.51, for a total transaction of $2,680,800.00. Following the completion of the transaction, the insider now directly owns 75,960 shares of the company’s stock, valued at $2,545,419.60. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Uwe Schramm sold 8,000 shares of Altair Engineering stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $30.00, for a total transaction of $240,000.00. Over the last 90 days, insiders have sold 366,055 shares of company stock worth $12,385,980. 29.27% of the stock is owned by corporate insiders.

A number of hedge funds have recently added to or reduced their stakes in the business. Captrust Financial Advisors bought a new stake in shares of Altair Engineering in the second quarter valued at about $39,000. Advisor Group Inc. boosted its position in shares of Altair Engineering by 63.7% in the second quarter. Advisor Group Inc. now owns 1,020 shares of the software’s stock valued at $41,000 after acquiring an additional 397 shares during the period. Tower Research Capital LLC TRC boosted its position in shares of Altair Engineering by 116.4% in the second quarter. Tower Research Capital LLC TRC now owns 1,751 shares of the software’s stock valued at $71,000 after acquiring an additional 942 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank bought a new stake in shares of Altair Engineering in the second quarter valued at about $73,000. Finally, US Bancorp DE boosted its position in shares of Altair Engineering by 83.5% in the second quarter. US Bancorp DE now owns 2,299 shares of the software’s stock valued at $93,000 after acquiring an additional 1,046 shares during the period. 66.43% of the stock is owned by hedge funds and other institutional investors.

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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