Altair Engineering (NASDAQ:ALTR) Stock Price Expected to Rise, Rosenblatt Securities Analyst Says

Altair Engineering (NASDAQ:ALTR) had its price objective raised by equities researchers at Rosenblatt Securities from $88.00 to $113.00 in a research report issued on Thursday, Benzinga reports. The brokerage currently has a “neutral” rating on the software’s stock. Rosenblatt Securities’ price target indicates a potential upside of 8.65% from the company’s previous close.

ALTR has been the subject of a number of other research reports. Needham & Company LLC reiterated a “buy” rating and issued a $100.00 target price on shares of Altair Engineering in a research report on Friday, August 2nd. The Goldman Sachs Group lowered shares of Altair Engineering from a “neutral” rating to a “sell” rating and reduced their price objective for the company from $85.00 to $71.00 in a research report on Friday, August 2nd. JPMorgan Chase & Co. lowered shares of Altair Engineering from an “overweight” rating to a “neutral” rating and set a $95.00 price objective for the company. in a research report on Monday, July 15th. Finally, Royal Bank of Canada restated a “sector perform” rating and set a $90.00 price objective on shares of Altair Engineering in a research report on Wednesday, October 23rd. One analyst has rated the stock with a sell rating, six have assigned a hold rating and one has given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $100.71.

Altair Engineering Stock Performance

Shares of ALTR opened at $104.00 on Thursday. The firm has a 50-day moving average price of $94.30 and a 200 day moving average price of $91.54. The firm has a market capitalization of $8.83 billion, a PE 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. Altair Engineering has a 52-week low of $57.59 and a 52-week high of $113.12.

Altair Engineering (NASDAQ:ALTR) last announced its earnings results on Wednesday, October 30th. The software reported $0.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.02 by $0.07. The firm had revenue of $151.45 million during the quarter, compared to analyst estimates of $146.55 million. Altair Engineering had a net margin of 5.10% and a return on equity of 7.70%. On average, sell-side analysts anticipate 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, major shareholder Christ Revocable Trust sold 100,000 shares of the company’s stock in a transaction dated Wednesday, October 23rd. The shares were sold at an average price of $106.57, for a total transaction of $10,657,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Altair Engineering news, major shareholder Christ Revocable Trust sold 100,000 shares of the company’s stock in a transaction dated Wednesday, October 23rd. The shares were sold at an average price of $106.57, for a total transaction of $10,657,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO James Ralph Scapa sold 13,000 shares of the stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $102.59, for a total transaction of $1,333,670.00. Following the completion of the sale, the chief executive officer now directly owns 134,045 shares of the company’s stock, valued at $13,751,676.55. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 360,360 shares of company stock valued at $35,476,660. 21.75% of the stock is currently owned by corporate insiders.

Institutional Trading of Altair Engineering

A number of hedge funds have recently made changes to their positions in ALTR. Blue Trust Inc. lifted its position in shares of Altair Engineering by 572.1% in 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. GAMMA Investing LLC lifted its position in shares of Altair Engineering by 81.7% in the second quarter. GAMMA Investing LLC now owns 418 shares of the software’s stock worth $41,000 after purchasing an additional 188 shares in the last quarter. FSC Wealth Advisors LLC lifted its position in shares of Altair Engineering by 41.3% in the second quarter. FSC Wealth Advisors LLC now owns 832 shares of the software’s stock worth $82,000 after purchasing an additional 243 shares in the last quarter. Van ECK Associates Corp lifted its position in shares of Altair Engineering by 41.7% in the second quarter. Van ECK Associates Corp now owns 1,057 shares of the software’s stock worth $104,000 after purchasing an additional 311 shares in the last quarter. Finally, SG Americas Securities LLC purchased a new stake in shares of Altair Engineering in the first quarter worth approximately $177,000. 63.38% of the stock is owned by hedge funds and other institutional investors.

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.