Altair Engineering (NASDAQ:ALTR) Receives Neutral Rating from Rosenblatt Securities

Rosenblatt Securities reiterated their neutral rating on shares of Altair Engineering (NASDAQ:ALTR) in a research note published on Monday morning,Benzinga reports. Rosenblatt Securities currently has a $113.00 target price on the software’s stock.

Several other equities research analysts have also recently weighed in on ALTR. Royal Bank of Canada increased 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. William Blair reiterated a “market perform” rating 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 research note on Thursday, October 31st. Wolfe Research lowered Altair Engineering from a “strong-buy” rating to a “hold” rating in a research report on Sunday, November 3rd. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Altair Engineering in a report on Friday. One investment analyst has rated the stock with a sell rating and seven have assigned a hold rating to the company. Based on data from MarketBeat.com, Altair Engineering currently has a consensus rating of “Hold” and an average price target of $100.83.

Altair Engineering Trading Down 0.1 %

NASDAQ ALTR opened at $111.70 on Monday. The firm has a market cap of $9.50 billion, a PE ratio of 657.06, a price-to-earnings-growth ratio of 10.75 and a beta of 1.42. Altair Engineering has a 1-year low of $75.71 and a 1-year high of $113.12. The stock has a 50-day moving average of $110.00 and a 200-day moving average of $101.81. The company has a current ratio of 3.27, a quick ratio of 3.27 and a debt-to-equity ratio of 0.27.

Altair Engineering (NASDAQ:ALTR) last announced its quarterly earnings results on Thursday, February 20th. The software reported $0.36 EPS for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.15). The company had revenue of $192.63 million during the quarter, compared to analysts’ expectations of $182.98 million. Altair Engineering had a return on equity of 8.23% and a net margin of 2.13%. As a group, sell-side analysts forecast that Altair Engineering will post 0.87 EPS for the current year.

Insider Activity at Altair Engineering

In other news, CEO James Ralph Scapa sold 16,095 shares of the business’s stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $105.65, for a total transaction of $1,700,436.75. Following the sale, the chief executive officer now owns 117,950 shares in the company, valued at approximately $12,461,417.50. The trade was a 12.01 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, major shareholder Jrs Investments Llc sold 6,500 shares of the company’s stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $105.69, for a total transaction of $686,985.00. The disclosure for this sale can be found here. Insiders have sold 59,143 shares of company stock worth $6,265,694 over the last 90 days. 21.75% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in ALTR. NBT Bank N A NY raised its stake in shares of Altair Engineering by 76.4% in 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 during the last quarter. UMB Bank n.a. increased its position in Altair Engineering by 77.0% in the fourth quarter. UMB Bank n.a. now owns 285 shares of the software’s stock worth $31,000 after buying an additional 124 shares in the last quarter. Blue Trust Inc. raised its stake 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 buying an additional 246 shares during the period. Johnson Financial Group Inc. purchased a new position in shares of Altair Engineering during the 4th quarter valued at about $37,000. Finally, GAMMA Investing LLC grew its stake in shares of Altair Engineering by 14.6% during the 4th quarter. GAMMA Investing LLC now owns 729 shares of the software’s stock valued at $80,000 after acquiring an additional 93 shares during the period. Hedge funds and other institutional investors own 63.38% of the company’s stock.

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.