Shares of Altair Engineering Inc. (NASDAQ:ALTR) have received an average recommendation of “Buy” from the nine brokerages that are presently covering the firm, Marketbeat.com reports. Three investment analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 1-year price objective among analysts that have covered the stock in the last year is $69.40.
A number of research firms recently issued reports on ALTR. Zacks Investment Research downgraded Altair Engineering from a “buy” rating to a “hold” rating in a research note on Tuesday, October 5th. Royal Bank of Canada lifted their price target on Altair Engineering from $64.00 to $74.00 and gave the company a “sector perform” rating in a research note on Friday, August 6th. William Blair reaffirmed a “buy” rating on shares of Altair Engineering in a report on Tuesday, September 7th. Finally, Rosenblatt Securities boosted their target price on shares of Altair Engineering from $79.00 to $80.00 and gave the stock a “buy” rating in a research report on Friday, August 6th.
In other news, major shareholder George J. Christ sold 35,465 shares of Altair Engineering stock in a transaction dated Friday, July 23rd. The shares were sold at an average price of $68.00, for a total transaction of $2,411,620.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder George J. Christ sold 44,514 shares of the business’s stock in a transaction on Wednesday, August 11th. The shares were sold at an average price of $70.76, for a total transaction of $3,149,810.64. The disclosure for this sale can be found here. Insiders sold 331,758 shares of company stock worth $23,922,686 in the last ninety days. Insiders own 25.26% of the company’s stock.
NASDAQ ALTR traded up $1.09 during trading on Monday, reaching $73.70. 701 shares of the company’s stock were exchanged, compared to its average volume of 263,002. Altair Engineering has a 1 year low of $42.48 and a 1 year high of $76.91. The stock has a market cap of $5.57 billion, a P/E ratio of -806.78 and a beta of 1.50. The company has a 50 day moving average price of $72.82 and a two-hundred day moving average price of $68.51.
Altair Engineering (NASDAQ:ALTR) last released its quarterly earnings data on Thursday, August 5th. The software reported ($0.04) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.11) by $0.07. Altair Engineering had a negative net margin of 1.10% and a positive return on equity of 4.74%. The company had revenue of $119.91 million during the quarter, compared to the consensus estimate of $111.50 million. As a group, research analysts anticipate that Altair Engineering will post 0.13 earnings per share for the current fiscal year.
About Altair Engineering
Altair Engineering, Inc engages in the provision of software and cloud solutions for product design & development, high performance cloud computing and data intelligence. It operates through the following segments: Software and Client Engineering Services. The Software segment includes a portfolio of software products; as well as solvers and optimization technology products, modelling and visualization tools.
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