Analysts Set Altair Engineering Inc. (NASDAQ:ALTR) Target Price at $100.71

Shares of Altair Engineering Inc. (NASDAQ:ALTR) have earned a consensus recommendation of “Hold” from the nine brokerages that are currently covering the stock, MarketBeat.com reports. One investment 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 12-month target price among brokers that have updated their coverage on the stock in the last year is $100.71.

A number of brokerages have weighed in on ALTR. Rosenblatt Securities lifted their target price on Altair Engineering from $88.00 to $113.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. Wolfe Research cut shares of Altair Engineering from a “strong-buy” rating to a “hold” rating in a research report on Sunday, November 3rd. William Blair reiterated a “market perform” rating on shares of Altair Engineering in a research note on Thursday, October 31st. Loop Capital reiterated a “hold” rating and issued a $113.00 price target on shares of Altair Engineering in a report on Thursday, October 31st. Finally, Royal Bank of Canada boosted their price target on Altair Engineering from $90.00 to $113.00 and gave the company a “sector perform” rating in a research note on Thursday, October 31st.

Insider Activity

In related news, CEO James Ralph Scapa sold 16,095 shares of the business’s stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $105.65, for a total value of $1,700,436.75. Following the sale, the chief executive officer now directly owns 117,950 shares in the company, valued at approximately $12,461,417.50. The trade was a 12.01 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, major shareholder Christ Revocable Trust sold 50,048 shares of the firm’s stock in a transaction dated Friday, September 27th. The shares were sold at an average price of $95.07, for a total value of $4,758,063.36. Following the transaction, the insider now directly owns 149,952 shares in the company, valued at $14,255,936.64. This trade represents a 25.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 378,019 shares of company stock valued at $37,686,698 in the last ninety days. 21.75% of the stock is owned by insiders.

Institutional Investors Weigh In On Altair Engineering

Hedge funds have recently modified their holdings of the business. Retirement Systems of Alabama lifted its holdings in shares of Altair Engineering by 2.7% during the third quarter. Retirement Systems of Alabama now owns 72,191 shares of the software’s stock worth $6,895,000 after purchasing an additional 1,904 shares during the period. Teachers Retirement System of The State of Kentucky raised its stake in Altair Engineering by 30.4% in the third quarter. Teachers Retirement System of The State of Kentucky now owns 34,242 shares of the software’s stock valued at $3,270,000 after buying an additional 7,981 shares in the last quarter. Geode Capital Management LLC grew its stake in Altair Engineering by 3.9% during the 3rd quarter. Geode Capital Management LLC now owns 1,423,880 shares of the software’s stock worth $136,020,000 after buying an additional 53,088 shares during the last quarter. MML Investors Services LLC lifted its stake in shares of Altair Engineering by 12.4% in the 3rd quarter. MML Investors Services LLC now owns 6,007 shares of the software’s stock worth $574,000 after acquiring an additional 665 shares during the period. Finally, Orion Portfolio Solutions LLC raised its stake in shares of Altair Engineering by 20.4% during the 3rd quarter. Orion Portfolio Solutions LLC now owns 3,782 shares of the software’s stock worth $361,000 after buying an additional 642 shares during the last quarter. Institutional investors own 63.38% of the company’s stock.

Altair Engineering Trading Up 0.4 %

ALTR opened at $106.17 on Thursday. Altair Engineering has a 12 month low of $70.07 and a 12 month high of $113.12. 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 $9.03 billion, a P/E ratio of 279.40, a P/E/G ratio of 12.16 and a beta of 1.44. The firm’s fifty day simple moving average is $101.63 and its 200 day simple moving average is $95.09.

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.