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

Altair Engineering Inc. (NASDAQ:ALTR) has received a consensus recommendation of “Hold” from the six brokerages that are covering the stock, MarketBeat reports. One investment analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating on the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $90.67.

Several equities analysts recently issued reports on ALTR shares. JPMorgan Chase & Co. cut shares of Altair Engineering from an “overweight” rating to a “neutral” rating and set a $95.00 price target on the stock. in a research report on Monday, July 15th. Needham & Company LLC reiterated a “buy” rating and set a $100.00 target price on shares of Altair Engineering in a report on Friday, August 2nd. 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 research report on Friday, August 2nd.

Insider Activity at Altair Engineering

In other Altair Engineering news, major shareholder George J. Christ sold 100,000 shares of the business’s stock in a transaction on Thursday, June 27th. The shares were sold at an average price of $98.40, for a total transaction of $9,840,000.00. Following the completion of the sale, the insider now directly owns 200,000 shares in the company, valued at approximately $19,680,000. The sale was disclosed in a document filed with the SEC, which is available through this link. In other Altair Engineering news, CEO James Ralph Scapa sold 13,000 shares of the firm’s stock in a transaction that occurred on Friday, June 28th. The shares were sold at an average price of $98.26, for a total transaction of $1,277,380.00. Following the sale, the chief executive officer now owns 134,045 shares in the company, valued at approximately $13,171,261.70. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, major shareholder George J. Christ sold 100,000 shares of the company’s stock in a transaction that occurred on Thursday, June 27th. The stock was sold at an average price of $98.40, for a total transaction of $9,840,000.00. Following the completion of the transaction, the insider now owns 200,000 shares of the company’s stock, valued at $19,680,000. The disclosure for this sale can be found here. Insiders have sold 153,860 shares of company stock valued at $14,739,205 over the last ninety days. Insiders own 21.75% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Sanctuary Advisors LLC bought a new stake in Altair Engineering in the 2nd quarter valued at $293,000. Teachers Retirement System of The State of Kentucky grew its holdings in Altair Engineering by 59.9% during the 2nd quarter. Teachers Retirement System of The State of Kentucky now owns 26,261 shares of the software’s stock valued at $2,576,000 after buying an additional 9,834 shares in the last quarter. Creative Planning raised its holdings in shares of Altair Engineering by 97.3% during the 2nd quarter. Creative Planning now owns 10,648 shares of the software’s stock worth $1,044,000 after acquiring an additional 5,252 shares in the last quarter. Algert Global LLC purchased a new position in shares of Altair Engineering in the second quarter valued at $562,000. Finally, Select Equity Group L.P. raised its stake in Altair Engineering by 2.3% during the second quarter. Select Equity Group L.P. now owns 21,789 shares of the software’s stock valued at $2,137,000 after purchasing an additional 495 shares in the last quarter. 63.38% of the stock is owned by hedge funds and other institutional investors.

Altair Engineering Stock Down 0.7 %

ALTR opened at $94.43 on Friday. The company has a market cap of $7.84 billion, a P/E ratio of 1,049.22, a P/E/G ratio of 10.94 and a beta of 1.45. Altair Engineering has a 12 month low of $57.59 and a 12 month high of $101.39. The business’s 50-day moving average price is $89.11 and its 200-day moving average price is $88.46. The company has a current ratio of 3.14, a quick ratio of 3.14 and a debt-to-equity ratio of 0.29.

Altair Engineering (NASDAQ:ALTR) last announced its quarterly earnings results on Thursday, August 1st. The software reported $0.16 earnings per share for the quarter, beating the consensus estimate of $0.15 by $0.01. The business had revenue of $148.80 million during the quarter, compared to analysts’ expectations of $146.88 million. Altair Engineering had a net margin of 4.26% and a return on equity of 6.89%. The firm’s revenue for the quarter was up 5.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.15) EPS. On average, equities analysts expect that Altair Engineering will post 0.65 EPS for the current 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.