Altair Engineering (ALTR) PT Raised to $29.00

Altair Engineering (NASDAQ:ALTR) had its price target raised by equities research analysts at Royal Bank of Canada to $29.00 in a report issued on Monday, The Fly reports. The brokerage presently has a “sector perform” rating on the semiconductor manufacturer’s stock. Royal Bank of Canada’s price target points to a potential downside of 1.36% from the stock’s previous close. The analysts noted that the move was a valuation call.

ALTR has been the topic of several other reports. William Blair initiated coverage on shares of Altair Engineering in a research note on Monday, November 27th. They set an “outperform” rating on the stock. Deutsche Bank initiated coverage on shares of Altair Engineering in a research note on Monday, November 27th. They set a “buy” rating and a $28.00 target price on the stock. JPMorgan Chase & Co. initiated coverage on shares of Altair Engineering in a research note on Monday, November 27th. They set a “neutral” rating and a $25.00 target price on the stock. Canaccord Genuity initiated coverage on shares of Altair Engineering in a research note on Monday, November 27th. They set a “hold” rating and a $25.00 target price on the stock. Finally, Berenberg Bank initiated coverage on shares of Altair Engineering in a research note on Tuesday, January 30th. They set a “buy” rating and a $33.00 target price on the stock. Three analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $28.00.

Shares of Altair Engineering (NASDAQ ALTR) opened at $29.40 on Monday. The company has a debt-to-equity ratio of -1.31, a current ratio of 0.52 and a quick ratio of 0.51. Altair Engineering has a one year low of $16.55 and a one year high of $30.65.

Institutional investors have recently bought and sold shares of the company. Two Sigma Advisers LP purchased a new position in shares of Altair Engineering during the 4th quarter valued at $287,000. Goldman Sachs Group Inc. purchased a new position in shares of Altair Engineering during the 4th quarter valued at $439,000. Royce & Associates LP purchased a new position in shares of Altair Engineering during the 4th quarter valued at $485,000. Deutsche Bank AG purchased a new position in shares of Altair Engineering during the 4th quarter valued at $542,000. Finally, Arrowstreet Capital Limited Partnership purchased a new position in shares of Altair Engineering during the 4th quarter valued at $622,000. Institutional investors and hedge funds own 20.51% of the company’s stock.

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About Altair Engineering

Altair Engineering Inc is a United States-based software company. The Company is focused on developing engineering software and computing technologies. The Company’s products include HyperWorks, solidThinking, PBS Works, and Carriots. The Company offers a range of solutions such as product engineering, industrial design, and tailored solutions.

The Fly

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