Altair Engineering Inc. (NASDAQ:ALTR) Given Average Rating of “Hold” by Analysts

Altair Engineering Inc. (NASDAQ:ALTR) has earned an average recommendation of “Hold” from the six research firms that are presently covering the firm, MarketBeat reports. One analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating on the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $90.67.

ALTR has been the subject of several research analyst reports. The Goldman Sachs Group downgraded 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 report on Friday, August 2nd. 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. Finally, Needham & Company LLC restated a “buy” rating and issued a $100.00 target price on shares of Altair Engineering in a research note on Friday, August 2nd.

Insider Buying and Selling

In related news, Director Teresa A. Harris sold 620 shares of the stock in a transaction that occurred 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 completion of the transaction, the director now directly owns 21,242 shares of the company’s stock, valued at approximately $1,753,951.94. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Altair Engineering news, Director Teresa A. Harris sold 620 shares of Altair Engineering stock in a transaction dated 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 of the company’s stock, valued at approximately $1,753,951.94. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO James Ralph Scapa sold 13,000 shares of the stock in a transaction dated Friday, June 28th. The shares were sold at an average price of $98.26, for a total value of $1,277,380.00. Following the completion of the transaction, the chief executive officer now directly owns 134,045 shares in the company, valued at $13,171,261.70. The disclosure for this sale can be found here. Insiders have sold a total of 153,860 shares of company stock worth $14,739,205 in the last ninety days. 21.75% of the stock is owned by insiders.

Institutional Trading of Altair Engineering

Several institutional investors and hedge funds have recently bought and sold shares of ALTR. William Blair Investment Management LLC acquired a new stake in Altair Engineering during the second quarter worth about $91,589,000. Matrix Capital Management Company LP boosted its holdings in Altair Engineering by 8.3% during the fourth quarter. Matrix Capital Management Company LP now owns 12,233,174 shares of the software’s stock worth $1,029,422,000 after buying an additional 932,717 shares in the last quarter. Bain Capital Public Equity Management II LLC acquired a new stake in Altair Engineering during the fourth quarter valued at $57,728,000. Wellington Management Group LLP raised its position in shares of Altair Engineering by 97.3% in the fourth quarter. Wellington Management Group LLP now owns 1,182,339 shares of the software’s stock worth $99,494,000 after acquiring an additional 583,127 shares during the period. Finally, Bank of New York Mellon Corp boosted its stake in shares of Altair Engineering by 121.7% during the 2nd quarter. Bank of New York Mellon Corp now owns 569,109 shares of the software’s stock worth $55,818,000 after acquiring an additional 312,448 shares in the last quarter. 63.38% of the stock is currently owned by institutional investors and hedge funds.

Altair Engineering Stock Down 0.7 %

NASDAQ ALTR opened at $94.43 on Friday. Altair Engineering has a 52 week low of $57.59 and a 52 week high of $101.39. The firm has a market capitalization of $7.84 billion, a price-to-earnings ratio of 1,049.22, a PEG ratio of 10.94 and a beta of 1.45. The company has a quick ratio of 3.14, a current ratio of 3.14 and a debt-to-equity ratio of 0.29. The company has a fifty day moving average of $89.11 and a two-hundred day moving average of $88.46.

Altair Engineering (NASDAQ:ALTR) last announced its quarterly earnings data on Thursday, August 1st. The software reported $0.16 earnings per share (EPS) for the quarter, topping 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 business had revenue of $148.80 million during the quarter, compared to the consensus estimate of $146.88 million. During the same quarter last year, the firm earned ($0.15) earnings per share. The firm’s quarterly revenue was up 5.4% compared to the same quarter last year. On average, analysts predict that Altair Engineering will post 0.65 earnings per share 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.