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

Shares of Altair Engineering Inc. (NASDAQ:ALTR) have been given a consensus rating of “Hold” by the six research firms that are currently covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, three have given a hold recommendation and two have given a buy recommendation to the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $90.67.

Several equities analysts have recently issued reports on ALTR shares. Needham & Company LLC reiterated a “buy” rating and set a $100.00 target price on shares of Altair Engineering in a report on Friday, August 2nd. The Goldman Sachs Group lowered shares of Altair Engineering from a “neutral” rating to a “sell” rating and decreased their price objective for the stock from $85.00 to $71.00 in a report on Friday, August 2nd. Finally, JPMorgan Chase & Co. lowered shares of Altair Engineering from an “overweight” rating to a “neutral” rating and set a $95.00 price objective for the company. in a report on Monday, July 15th.

Insiders Place Their Bets

In other Altair Engineering news, major shareholder George J. Christ sold 2,176 shares of Altair Engineering stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $95.31, for a total value of $207,394.56. Following the completion of the sale, the insider now owns 300,000 shares of the company’s stock, valued at approximately $28,593,000. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Altair Engineering news, major shareholder George J. Christ sold 2,176 shares of Altair Engineering stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $95.31, for a total value of $207,394.56. Following the completion of the sale, the insider now owns 300,000 shares of the company’s stock, valued at approximately $28,593,000. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, major shareholder George J. Christ sold 49,952 shares of Altair Engineering stock in a transaction that occurred on Wednesday, October 9th. The stock was sold at an average price of $95.72, for a total transaction of $4,781,405.44. Following the completion of the sale, the insider now directly owns 100,000 shares of the company’s stock, valued at approximately $9,572,000. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 260,360 shares of company stock valued at $24,537,300. Company insiders own 21.75% of the company’s stock.

Institutional Investors Weigh In On Altair Engineering

A number of hedge funds have recently modified their holdings of the business. Private Advisor Group LLC bought a new stake in shares of Altair Engineering during the 3rd quarter valued at $208,000. Blue Trust Inc. grew its position in shares of Altair Engineering by 572.1% during the 3rd quarter. Blue Trust Inc. now owns 289 shares of the software’s stock valued at $28,000 after acquiring an additional 246 shares during the period. nVerses Capital LLC bought a new stake in shares of Altair Engineering during the 3rd quarter valued at $334,000. Rheos Capital Works Inc. bought a new stake in shares of Altair Engineering during the 3rd quarter valued at $716,000. Finally, Creative Planning grew its position in shares of Altair Engineering by 5.9% during the 3rd quarter. Creative Planning now owns 11,279 shares of the software’s stock valued at $1,077,000 after acquiring an additional 631 shares during the period. Institutional investors own 63.38% of the company’s stock.

Altair Engineering Price Performance

ALTR stock opened at $103.00 on Wednesday. The firm has a 50 day moving average price of $91.53 and a 200-day moving average price of $90.28. Altair Engineering has a 52-week low of $57.59 and a 52-week high of $108.72. The firm has a market capitalization of $8.55 billion, a price-to-earnings ratio of 1,144.44, a PEG ratio of 12.15 and a beta of 1.45. The company has a debt-to-equity ratio of 0.29, a quick ratio of 3.14 and a current ratio of 3.14.

Altair Engineering (NASDAQ:ALTR) last released its earnings results on Thursday, August 1st. The software reported $0.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.15 by $0.01. Altair Engineering had a net margin of 4.26% and a return on equity of 6.89%. The firm had revenue of $148.80 million during the quarter, compared to analyst estimates of $146.88 million. During the same period last year, the business earned ($0.15) earnings per share. The business’s revenue was up 5.4% on a year-over-year basis. Equities research analysts forecast that Altair Engineering will post 0.65 EPS for the current fiscal year.

About Altair Engineering

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.