Altair Engineering Inc. (NASDAQ:ALTR) Receives $100.71 Consensus PT from Analysts

Altair Engineering Inc. (NASDAQ:ALTR) has earned an average recommendation of “Reduce” from the eight brokerages that are covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation and seven have assigned a hold recommendation to the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $100.83.

Several research analysts have recently weighed in on the stock. Needham & Company LLC reissued a “hold” rating on shares of Altair Engineering in a research report on Friday. Loop Capital reissued a “hold” rating and set a $113.00 price target on shares of Altair Engineering in a research 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 reaffirmed a “market perform” rating on shares of Altair Engineering in a research report on Thursday, October 31st. Finally, Royal Bank of Canada lifted their price target on shares of Altair Engineering from $90.00 to $113.00 and gave the company a “sector perform” rating in a research report on Thursday, October 31st.

Insider Activity at Altair Engineering

In other Altair Engineering news, CRO Nelson Dias sold 22,500 shares of the firm’s stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $106.23, for a total value of $2,390,175.00. Following the sale, the executive now directly owns 48,437 shares in the company, valued at $5,145,462.51. This trade represents a 31.72 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Matthew Charles Brown sold 1,048 shares of the firm’s stock in a transaction on Monday, December 23rd. The shares were sold at an average price of $108.90, for a total value of $114,127.20. Following the completion of the sale, the chief financial officer now owns 55,519 shares in the company, valued at approximately $6,046,019.10. This represents a 1.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 59,143 shares of company stock worth $6,265,694. Company insiders own 21.75% of the company’s stock.

Institutional Trading of Altair Engineering

Hedge funds and other institutional investors have recently bought and sold shares of the business. NBT Bank N A NY increased its position in shares of Altair Engineering by 76.4% during the fourth quarter. NBT Bank N A NY now owns 247 shares of the software’s stock worth $27,000 after purchasing an additional 107 shares in the last quarter. UMB Bank n.a. increased its position in shares of Altair Engineering by 77.0% during the fourth quarter. UMB Bank n.a. now owns 285 shares of the software’s stock worth $31,000 after purchasing an additional 124 shares in the last quarter. Blue Trust Inc. increased its position in shares of Altair Engineering by 572.1% during the third quarter. Blue Trust Inc. now owns 289 shares of the software’s stock worth $28,000 after purchasing an additional 246 shares in the last quarter. Johnson Financial Group Inc. acquired a new stake in shares of Altair Engineering during the fourth quarter worth about $37,000. Finally, GAMMA Investing LLC increased its position in shares of Altair Engineering by 14.6% during the fourth quarter. GAMMA Investing LLC now owns 729 shares of the software’s stock worth $80,000 after purchasing an additional 93 shares in the last quarter. 63.38% of the stock is currently owned by institutional investors and hedge funds.

Altair Engineering Price Performance

Altair Engineering stock opened at $111.78 on Friday. Altair Engineering has a 52-week low of $75.71 and a 52-week high of $113.12. The firm has a market capitalization of $9.51 billion, a price-to-earnings ratio of 657.53, a PEG ratio of 10.75 and a beta of 1.42. The company has a fifty day simple moving average of $109.90 and a 200-day simple moving average of $101.65. The company has a quick ratio of 3.27, a current ratio of 3.27 and a debt-to-equity ratio of 0.27.

Altair Engineering (NASDAQ:ALTR) last released its earnings results on Thursday, February 20th. The software reported $0.36 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.15). Altair Engineering had a return on equity of 8.23% and a net margin of 2.13%. The business had revenue of $192.63 million for the quarter, compared to analysts’ expectations of $182.98 million. On average, equities analysts anticipate that Altair Engineering will post 0.87 EPS for the current fiscal year.

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.