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

Shares of Altair Engineering Inc. (NASDAQ:ALTR) have earned a consensus rating of “Reduce” from the eight ratings firms that are currently covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a sell rating and seven have assigned a hold rating to the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $100.83.

A number of equities analysts have weighed in on the stock. Royal Bank of Canada upped their price target on shares of Altair Engineering from $90.00 to $113.00 and gave the stock a “sector perform” rating in a research report on Thursday, October 31st. Needham & Company LLC reaffirmed a “hold” rating on shares of Altair Engineering in a report on Friday, February 21st. Loop Capital reissued a “hold” rating and set a $113.00 price target on shares of Altair Engineering in a report on Thursday, October 31st. Wolfe Research lowered Altair Engineering from a “strong-buy” rating to a “hold” rating in a research note on Sunday, November 3rd. Finally, William Blair reiterated a “market perform” rating on shares of Altair Engineering in a research report on Thursday, October 31st.

Altair Engineering Stock Performance

NASDAQ ALTR opened at $111.49 on Friday. The business’s fifty day moving average is $110.29 and its 200 day moving average is $102.10. Altair Engineering has a fifty-two week low of $75.71 and a fifty-two week high of $113.12. The company has a market capitalization of $9.49 billion, a PE ratio of 655.82, a price-to-earnings-growth ratio of 10.75 and a beta of 1.42.

Altair Engineering (NASDAQ:ALTR) last posted its quarterly earnings data on Thursday, February 20th. The software reported $0.36 earnings per share for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.15). The company had revenue of $192.63 million for the quarter, compared to analysts’ expectations of $182.98 million. Altair Engineering had a net margin of 2.13% and a return on equity of 8.08%. On average, sell-side analysts forecast that Altair Engineering will post 0.87 EPS for the current year.

Insider Activity

In other Altair Engineering news, CEO James Ralph Scapa sold 16,095 shares of the firm’s stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $105.65, for a total transaction of $1,700,436.75. Following the completion of the transaction, the chief executive officer now owns 117,950 shares in the company, valued at $12,461,417.50. This trade represents a 12.01 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CRO Nelson Dias sold 22,500 shares of Altair Engineering stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $106.23, for a total value of $2,390,175.00. Following the completion of the sale, the executive now directly owns 48,437 shares in the company, valued at approximately $5,145,462.51. The trade was a 31.72 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 47,019 shares of company stock worth $5,027,600 over the last 90 days. Corporate insiders own 21.75% of the company’s stock.

Hedge Funds Weigh In On Altair Engineering

Institutional investors have recently bought and sold shares of the business. Magnetar Financial LLC bought a new stake in shares of Altair Engineering in the 4th quarter worth about $62,142,000. Norges Bank bought a new stake in Altair Engineering during the fourth quarter worth approximately $37,899,000. Schonfeld Strategic Advisors LLC increased its stake in Altair Engineering by 13,097.8% during the fourth quarter. Schonfeld Strategic Advisors LLC now owns 331,528 shares of the software’s stock worth $36,173,000 after acquiring an additional 329,016 shares during the last quarter. Vanguard Group Inc. raised its position in Altair Engineering by 4.8% during the fourth quarter. Vanguard Group Inc. now owns 6,894,230 shares of the software’s stock valued at $752,229,000 after purchasing an additional 317,575 shares during the period. Finally, Woodline Partners LP bought a new stake in shares of Altair Engineering in the 4th quarter valued at approximately $32,733,000. Institutional investors own 63.38% of the company’s stock.

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.