Altair Engineering (ALTR) to Release Quarterly Earnings on Thursday

Altair Engineering (NASDAQ:ALTR) is projected to issue its quarterly earnings data before the market opens on Thursday, February 27th. Analysts expect the company to announce earnings of $0.51 per share and revenue of $182.98 million for the quarter.

Altair Engineering Trading Up 0.1 %

Shares of ALTR opened at $111.25 on Thursday. The company has a debt-to-equity ratio of 0.27, a current ratio of 3.27 and a quick ratio of 3.27. Altair Engineering has a 1 year low of $75.71 and a 1 year high of $113.12. The company has a 50 day simple moving average of $109.68 and a two-hundred day simple moving average of $101.12. The firm has a market cap of $9.47 billion, a P/E ratio of 292.77, a price-to-earnings-growth ratio of 10.66 and a beta of 1.42.

Analysts Set New Price Targets

ALTR has been the subject of a number of research analyst reports. Needham & Company LLC reaffirmed a “hold” rating and set a $100.00 price objective on shares of Altair Engineering in a report on Thursday, October 31st. Loop Capital reissued a “hold” rating and issued a $113.00 target price on shares of Altair Engineering in a report on Thursday, October 31st. Wolfe Research lowered shares of Altair Engineering from a “strong-buy” rating to a “hold” rating in a report on Sunday, November 3rd. Rosenblatt Securities raised their target price on shares of Altair Engineering from $88.00 to $113.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. Finally, William Blair reissued a “market perform” rating on shares of Altair Engineering in a report on Thursday, October 31st. One analyst has rated the stock with a sell rating, seven have given a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, Altair Engineering presently has a consensus rating of “Hold” and a consensus price target of $100.71.

Insiders Place Their Bets

In other news, CEO James Ralph Scapa sold 16,095 shares of Altair Engineering stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $105.65, for a total transaction of $1,700,436.75. Following the completion of the sale, the chief executive officer now directly owns 117,950 shares in the company, valued at approximately $12,461,417.50. This trade represents a 12.01 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Jrs Investments Llc sold 6,500 shares of Altair Engineering stock in a transaction on Friday, November 29th. The stock was sold at an average price of $105.69, for a total value of $686,985.00. The disclosure for this sale can be found here. Insiders sold 59,143 shares of company stock valued at $6,265,694 over the last three months. 21.75% of the stock is owned by company insiders.

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.