Altair Engineering (NASDAQ:ALTR) Stock Price Expected to Rise, Rosenblatt Securities Analyst Says

Altair Engineering (NASDAQ:ALTR) had its price objective upped by Rosenblatt Securities from $88.00 to $113.00 in a research note published on Thursday morning, Benzinga reports. They currently have a neutral rating on the software’s stock.

A number of other equities research analysts have also recently commented on ALTR. Needham & Company LLC reaffirmed a “buy” rating and set a $100.00 price objective on shares of Altair Engineering in a research note on Friday, August 2nd. The Goldman Sachs Group lowered shares of Altair Engineering from a “neutral” rating to a “sell” rating and dropped their price target for the company from $85.00 to $71.00 in a research report on Friday, August 2nd. JPMorgan Chase & Co. downgraded shares of Altair Engineering from an “overweight” rating to a “neutral” rating and set a $95.00 price objective for the company. in a research report on Monday, July 15th. Finally, Royal Bank of Canada restated a “sector perform” rating and set a $90.00 target price on shares of Altair Engineering in a research report on Wednesday, October 23rd. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $100.71.

Altair Engineering Stock Performance

Shares of ALTR stock opened at $104.00 on Thursday. The business has a fifty day moving average of $94.30 and a 200 day moving average of $91.61. Altair Engineering has a 1 year low of $57.59 and a 1 year high of $113.12. The company has a debt-to-equity ratio of 0.27, a current ratio of 3.27 and a quick ratio of 3.14. The firm has a market capitalization of $8.83 billion, a price-to-earnings ratio of 273.69, a price-to-earnings-growth ratio of 13.28 and a beta of 1.44.

Altair Engineering (NASDAQ:ALTR) last released its quarterly earnings data on Thursday, August 1st. The software reported $0.16 earnings per share for the quarter, topping analysts’ consensus estimates of $0.15 by $0.01. Altair Engineering had a net margin of 5.10% and a return on equity of 7.49%. The firm had revenue of $148.80 million for the quarter, compared to analyst estimates of $146.88 million. During the same quarter in the prior year, the business earned ($0.15) earnings per share. The business’s quarterly revenue was up 5.4% compared to the same quarter last year. As a group, research analysts expect that Altair Engineering will post 0.65 earnings per share for the current year.

Insider Buying and Selling at Altair Engineering

In related news, Director Teresa A. Harris sold 620 shares of Altair Engineering 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 owns 21,242 shares in the company, valued at $1,753,951.94. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director Teresa A. Harris sold 620 shares of the firm’s stock in a transaction that occurred 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 transaction, the director now owns 21,242 shares in the company, valued at $1,753,951.94. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, major shareholder Jrs Investments Llc sold 6,500 shares of the firm’s stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $102.59, for a total transaction of $666,835.00. The disclosure for this sale can be found here. Insiders have sold 360,360 shares of company stock valued at $35,476,660 in the last quarter. Corporate insiders own 21.75% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Blue Trust Inc. lifted its holdings in shares of Altair Engineering by 572.1% in the 3rd quarter. Blue Trust Inc. now owns 289 shares of the software’s stock valued at $28,000 after buying an additional 246 shares during the period. GAMMA Investing LLC raised 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 lifted its holdings in Altair Engineering by 41.3% in the second quarter. FSC Wealth Advisors LLC now owns 832 shares of the software’s stock valued at $82,000 after acquiring an additional 243 shares during the period. Van ECK Associates Corp lifted its holdings in Altair Engineering by 41.7% in the second quarter. Van ECK Associates Corp now owns 1,057 shares of the software’s stock valued at $104,000 after acquiring an additional 311 shares during the period. Finally, SG Americas Securities LLC purchased a new stake in shares of Altair Engineering during the 1st quarter worth $177,000. 63.38% of the stock is currently owned by institutional investors and hedge funds.

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.