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

Altair Engineering Inc. (NASDAQ:ALTR) has received a consensus recommendation of “Hold” from the five research firms that are covering the company, MarketBeat.com reports. Three research analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $94.60.

A number of research firms have recently weighed in on ALTR. Rosenblatt Securities reaffirmed a “neutral” rating and set a $88.00 price target on shares of Altair Engineering in a research report on Monday, April 29th. Needham & Company LLC reaffirmed a “buy” rating and set a $100.00 price target on shares of Altair Engineering in a research report on Friday. The Goldman Sachs Group lowered shares of Altair Engineering from a “neutral” rating to a “sell” rating and dropped their price target for the stock from $85.00 to $71.00 in a research report on Friday. Finally, JPMorgan Chase & Co. lowered shares of Altair Engineering from an “overweight” rating to a “neutral” rating and set a $95.00 price target for the company. in a research report on Monday, July 15th.

Altair Engineering Stock Down 3.4 %

Shares of Altair Engineering stock opened at $85.32 on Friday. The company has a market cap of $7.08 billion, a P/E ratio of 948.00, a PEG ratio of 11.11 and a beta of 1.48. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.46 and a current ratio of 2.46. Altair Engineering has a one year low of $57.59 and a one year high of $101.39. The firm has a fifty day moving average of $93.54 and a two-hundred day moving average of $88.16.

Altair Engineering (NASDAQ:ALTR) last issued its quarterly earnings data on Thursday, May 2nd. The software reported $0.40 EPS for the quarter, beating analysts’ consensus estimates of $0.34 by $0.06. The firm had revenue of $172.91 million for the quarter, compared to analysts’ expectations of $169.29 million. Altair Engineering had a net margin of 1.55% and a return on equity of 5.60%. The firm’s revenue was up 4.1% on a year-over-year basis. During the same period in the prior year, the company earned $0.13 EPS. On average, analysts forecast that Altair Engineering will post 0.66 earnings per share for the current year.

Insider Activity

In related news, Director Teresa A. Harris sold 620 shares of the company’s stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $82.89, for a total value of $51,391.80. Following the sale, the director now directly owns 18,895 shares of the company’s stock, valued at $1,566,206.55. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Director Teresa A. Harris sold 620 shares of the company’s stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $82.89, for a total value of $51,391.80. Following the sale, the director now directly owns 18,895 shares of the company’s stock, valued at $1,566,206.55. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Brian Gayle sold 773 shares of the stock in a transaction on Friday, May 17th. The stock was sold at an average price of $90.10, for a total transaction of $69,647.30. Following the sale, the chief accounting officer now directly owns 18,423 shares in the company, valued at $1,659,912.30. The disclosure for this sale can be found here. Over the last three months, insiders sold 486,754 shares of company stock worth $45,114,245. 21.75% of the stock is currently owned by company insiders.

Institutional Trading of Altair Engineering

A number of large investors have recently modified their holdings of the company. EdgeRock Capital LLC bought a new position in Altair Engineering in the 4th quarter valued at about $33,000. GAMMA Investing LLC grew its position in Altair Engineering by 81.7% in the 2nd quarter. GAMMA Investing LLC now owns 418 shares of the software’s stock valued at $41,000 after buying an additional 188 shares in the last quarter. FSC Wealth Advisors LLC grew its position in Altair Engineering by 41.3% in the 2nd quarter. FSC Wealth Advisors LLC now owns 832 shares of the software’s stock valued at $82,000 after buying an additional 243 shares in the last quarter. Harvest Fund Management Co. Ltd grew its position in Altair Engineering by 1,157.7% in the 4th quarter. Harvest Fund Management Co. Ltd now owns 981 shares of the software’s stock valued at $83,000 after buying an additional 903 shares in the last quarter. Finally, Van ECK Associates Corp grew its position in Altair Engineering by 41.7% in the 2nd quarter. Van ECK Associates Corp now owns 1,057 shares of the software’s stock valued at $104,000 after buying an additional 311 shares in the last quarter. Institutional investors and hedge funds own 63.38% of the company’s stock.

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.