William Blair Reiterates “Market Perform” Rating for Altair Engineering (NASDAQ:ALTR)

Altair Engineering (NASDAQ:ALTR)‘s stock had its “market perform” rating reissued by stock analysts at William Blair in a research note issued to investors on Thursday, Marketbeat Ratings reports.

A number of other research analysts have also weighed in on ALTR. Needham & Company LLC reissued a “buy” rating and set a $100.00 target price on shares of Altair Engineering in a report on Friday, August 2nd. JPMorgan Chase & Co. lowered Altair Engineering from an “overweight” rating to a “neutral” rating and set a $95.00 target price on the stock. in a report on Monday, July 15th. Rosenblatt Securities boosted their target price on Altair Engineering from $88.00 to $113.00 and gave the stock a “neutral” rating in a report on Thursday. Royal Bank of Canada reissued a “sector perform” rating and set a $90.00 target price on shares of Altair Engineering in a report on Wednesday, October 23rd. Finally, The Goldman Sachs Group lowered 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 report on Friday, August 2nd. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $100.71.

Altair Engineering Trading Up 0.0 %

Shares of Altair Engineering stock opened at $104.00 on Thursday. Altair Engineering has a 12-month low of $57.59 and a 12-month high of $113.12. The stock has a market cap of $8.83 billion, a P/E ratio of 273.68, a P/E/G ratio of 13.87 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 business’s 50 day moving average is $94.30 and its 200-day moving average is $91.54.

Altair Engineering (NASDAQ:ALTR) last announced its quarterly earnings data on Wednesday, October 30th. The software reported $0.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.02 by $0.07. Altair Engineering had a return on equity of 7.70% and a net margin of 5.10%. The company had revenue of $151.45 million for the quarter, compared to analysts’ expectations of $146.55 million. Equities research analysts predict that Altair Engineering will post 0.65 earnings per share for the current fiscal year.

Insider Buying and Selling at Altair Engineering

In other Altair Engineering news, CEO James Ralph Scapa sold 13,000 shares of the company’s stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $89.04, for a total value of $1,157,520.00. Following the transaction, the chief executive officer now directly owns 134,045 shares of the company’s stock, valued at $11,935,366.80. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other Altair Engineering news, major shareholder Christ Revocable Trust sold 100,000 shares of the company’s stock in a transaction on Wednesday, October 23rd. The stock was sold at an average price of $106.57, for a total value of $10,657,000.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO James Ralph Scapa sold 13,000 shares of the stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $89.04, for a total value of $1,157,520.00. Following the sale, the chief executive officer now directly owns 134,045 shares in the company, valued at approximately $11,935,366.80. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 360,360 shares of company stock valued at $35,476,660 in the last ninety days. 21.75% of the stock is currently owned by corporate insiders.

Institutional Trading of Altair Engineering

Several large investors have recently modified their holdings of ALTR. Principal Financial Group Inc. grew its holdings in shares of Altair Engineering by 288.6% during the 1st quarter. Principal Financial Group Inc. now owns 24,357 shares of the software’s stock worth $2,098,000 after purchasing an additional 18,089 shares in the last quarter. Daiwa Securities Group Inc. acquired a new stake in shares of Altair Engineering during the 1st quarter worth $1,465,000. GSA Capital Partners LLP grew its holdings in shares of Altair Engineering by 355.9% during the 1st quarter. GSA Capital Partners LLP now owns 24,852 shares of the software’s stock worth $2,141,000 after purchasing an additional 19,401 shares in the last quarter. SG Americas Securities LLC acquired a new stake in shares of Altair Engineering during the 1st quarter worth $177,000. Finally, Swiss National Bank grew its holdings in shares of Altair Engineering by 1.2% during the 1st quarter. Swiss National Bank now owns 107,800 shares of the software’s stock worth $9,287,000 after purchasing an additional 1,300 shares in the last quarter. 63.38% of the stock is owned by institutional investors and hedge funds.

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.