Altair Engineering Inc. (NASDAQ:ALTR) Receives $90.67 Average Target Price from Brokerages

Shares of Altair Engineering Inc. (NASDAQ:ALTR) have earned a consensus rating of “Hold” from the six research firms that are covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and two have given a buy recommendation to the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $90.67.

ALTR has been the topic of a number of recent analyst reports. The Goldman Sachs Group cut shares of Altair Engineering from a “neutral” rating to a “sell” rating and decreased their target price for the stock from $85.00 to $71.00 in a research note on Friday, August 2nd. Needham & Company LLC restated a “buy” rating and set a $100.00 price objective on shares of Altair Engineering in a research report on Friday, August 2nd. Finally, JPMorgan Chase & Co. downgraded shares of Altair Engineering from an “overweight” rating to a “neutral” rating and set a $95.00 target price for the company. in a report on Monday, July 15th.

Insider Buying and Selling

In other Altair Engineering news, Director Teresa A. Harris sold 620 shares of Altair Engineering stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $82.57, for a total value of $51,193.40. Following the sale, the director now directly owns 21,242 shares in the company, valued at approximately $1,753,951.94. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, major shareholder George J. Christ sold 100,000 shares of the stock in a transaction that occurred on Thursday, June 27th. The stock was sold at an average price of $98.40, for a total transaction of $9,840,000.00. Following the completion of the transaction, the insider now directly owns 200,000 shares in the company, valued at approximately $19,680,000. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Teresa A. Harris sold 620 shares of the business’s stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $82.57, for a total transaction of $51,193.40. Following the completion of the sale, the director now owns 21,242 shares in the company, valued at approximately $1,753,951.94. The disclosure for this sale can be found here. Over the last quarter, insiders sold 153,860 shares of company stock worth $14,739,205. 21.75% of the stock is owned by insiders.

Hedge Funds Weigh In On Altair Engineering

Institutional investors and hedge funds have recently made changes to their positions in the business. GAMMA Investing LLC grew its position in Altair Engineering by 81.7% in the second quarter. GAMMA Investing LLC now owns 418 shares of the software’s stock worth $41,000 after acquiring an additional 188 shares in the last quarter. FSC Wealth Advisors LLC boosted its holdings in shares of Altair Engineering by 41.3% in the 2nd quarter. FSC Wealth Advisors LLC now owns 832 shares of the software’s stock worth $82,000 after purchasing an additional 243 shares during the period. Van ECK Associates Corp increased its position in shares of Altair Engineering by 41.7% during the 2nd quarter. Van ECK Associates Corp now owns 1,057 shares of the software’s stock valued at $104,000 after purchasing an additional 311 shares during the last quarter. Natixis Investment Managers International lifted its position in Altair Engineering by 68.7% in the fourth quarter. Natixis Investment Managers International now owns 1,940 shares of the software’s stock worth $163,000 after buying an additional 790 shares during the last quarter. Finally, SG Americas Securities LLC purchased a new position in Altair Engineering during the first quarter worth $177,000. 63.38% of the stock is owned by hedge funds and other institutional investors.

Altair Engineering Trading Down 0.4 %

NASDAQ:ALTR opened at $94.06 on Friday. Altair Engineering has a one year low of $57.59 and a one year high of $101.39. The business has a fifty day moving average price of $88.93 and a 200-day moving average price of $88.69. The firm has a market capitalization of $7.81 billion, a price-to-earnings ratio of 1,045.11, a price-to-earnings-growth ratio of 10.94 and a beta of 1.45. The company has a debt-to-equity ratio of 0.29, a current ratio of 3.14 and a quick ratio of 3.14.

Altair Engineering (NASDAQ:ALTR) last issued its quarterly earnings results on Thursday, August 1st. The software reported $0.16 EPS for the quarter, topping analysts’ consensus estimates of $0.15 by $0.01. Altair Engineering had a return on equity of 6.89% and a net margin of 4.26%. The business had revenue of $148.80 million during the quarter, compared to analysts’ expectations of $146.88 million. During the same quarter in the prior year, the business posted ($0.15) earnings per share. The business’s quarterly revenue was up 5.4% on a year-over-year basis. Sell-side analysts forecast that Altair Engineering will post 0.65 EPS for the current year.

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.