Altair Engineering Inc. (NASDAQ:ALTR) Receives $100.71 Consensus Target Price from Analysts

Altair Engineering Inc. (NASDAQ:ALTR) has been assigned a consensus recommendation of “Hold” from the nine ratings firms that are presently covering the company, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, seven have given a hold recommendation and one has issued a buy recommendation on the company. The average 1 year price target among brokers that have covered the stock in the last year is $100.71.

A number of analysts have weighed in on ALTR shares. Rosenblatt Securities increased their price objective on Altair Engineering from $88.00 to $113.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. Royal Bank of Canada increased their price objective on Altair Engineering from $90.00 to $113.00 and gave the stock a “sector perform” rating in a research report on Thursday, October 31st. Loop Capital reissued a “hold” rating and set a $113.00 target price on shares of Altair Engineering in a research note on Thursday, October 31st. Wolfe Research downgraded Altair Engineering from a “strong-buy” rating to a “hold” rating in a research note on Sunday, November 3rd. Finally, Needham & Company LLC reissued a “hold” rating and set a $100.00 target price on shares of Altair Engineering in a research note on Thursday, October 31st.

Insiders Place Their Bets

In other Altair Engineering news, CFO Matthew Charles Brown sold 1,048 shares of the firm’s stock in a transaction on Monday, December 23rd. The stock was sold at an average price of $108.90, for a total transaction of $114,127.20. Following the completion of the transaction, the chief financial officer now owns 55,519 shares of the company’s stock, valued at approximately $6,046,019.10. This trade represents a 1.85 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO James Ralph Scapa sold 13,000 shares of the firm’s stock in a transaction on Friday, November 29th. The stock was sold at an average price of $105.69, for a total value of $1,373,970.00. Following the transaction, the chief executive officer now directly owns 134,045 shares of the company’s stock, valued at $14,167,216.05. The trade was a 8.84 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 61,947 shares of company stock valued at $6,557,428. Corporate insiders own 21.75% of the company’s stock.

Institutional Investors Weigh In On Altair Engineering

Several hedge funds have recently made changes to their positions in ALTR. GAMMA Investing LLC boosted its holdings in Altair Engineering by 14.6% in the fourth quarter. GAMMA Investing LLC now owns 729 shares of the software’s stock valued at $80,000 after acquiring an additional 93 shares during the last quarter. New York State Teachers Retirement System boosted its holdings in Altair Engineering by 1.2% in the third quarter. New York State Teachers Retirement System now owns 8,500 shares of the software’s stock valued at $812,000 after acquiring an additional 100 shares during the last quarter. UMB Bank n.a. boosted its holdings in Altair Engineering by 77.0% in the fourth quarter. UMB Bank n.a. now owns 285 shares of the software’s stock valued at $31,000 after acquiring an additional 124 shares during the last quarter. ProShare Advisors LLC boosted its holdings in Altair Engineering by 1.6% in the second quarter. ProShare Advisors LLC now owns 10,219 shares of the software’s stock valued at $1,002,000 after acquiring an additional 160 shares during the last quarter. Finally, Ballentine Partners LLC boosted its holdings in Altair Engineering by 8.5% in the third quarter. Ballentine Partners LLC now owns 2,236 shares of the software’s stock valued at $214,000 after acquiring an additional 175 shares during the last quarter. Institutional investors and hedge funds own 63.38% of the company’s stock.

Altair Engineering Stock Up 0.0 %

Altair Engineering stock opened at $110.32 on Friday. Altair Engineering has a twelve month low of $75.71 and a twelve month high of $113.12. The stock has a 50 day moving average of $108.08 and a two-hundred day moving average of $98.85. The company has a current ratio of 3.27, a quick ratio of 3.27 and a debt-to-equity ratio of 0.27. The stock has a market capitalization of $9.39 billion, a price-to-earnings ratio of 290.32, a PEG ratio of 10.62 and a beta of 1.42.

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.