Altair Engineering Inc. (NASDAQ:ALTR) Receives Consensus Rating of “Moderate Buy” from Brokerages

Shares of Altair Engineering Inc. (NASDAQ:ALTR) have received a consensus recommendation of “Moderate Buy” from the six ratings firms that are covering the company, Marketbeat Ratings reports. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $90.00.

Several equities analysts recently issued reports on the stock. Needham & Company LLC reiterated a “buy” rating and set a $100.00 price target on shares of Altair Engineering in a research report on Monday, March 25th. Rosenblatt Securities reissued a “neutral” rating and issued a $88.00 target price on shares of Altair Engineering in a research report on Monday. Royal Bank of Canada restated a “sector perform” rating and issued a $90.00 target price on shares of Altair Engineering in a research note on Thursday, March 21st. Oppenheimer upped their price target on Altair Engineering from $95.00 to $100.00 and gave the stock an “outperform” rating in a research note on Friday, February 23rd. Finally, JPMorgan Chase & Co. raised their price objective on Altair Engineering from $86.00 to $95.00 and gave the company an “overweight” rating in a research report on Tuesday, March 26th.

Altair Engineering Price Performance

Shares of ALTR stock opened at $81.41 on Thursday. The company has a debt-to-equity ratio of 0.32, a quick ratio of 2.16 and a current ratio of 2.16. Altair Engineering has a fifty-two week low of $57.59 and a fifty-two week high of $92.92. The firm has a market cap of $6.72 billion, a P/E ratio of -619.23, a P/E/G ratio of 10.99 and a beta of 1.42. The business’s 50 day moving average price is $83.57 and its 200-day moving average price is $79.12.

Altair Engineering (NASDAQ:ALTR) last released its quarterly earnings results on Thursday, February 22nd. The software reported $0.29 earnings per share for the quarter, beating the consensus estimate of $0.22 by $0.07. Altair Engineering had a negative net margin of 1.46% and a positive return on equity of 3.77%. The business had revenue of $171.50 million for the quarter, compared to analysts’ expectations of $172.48 million. On average, equities research analysts anticipate that Altair Engineering will post 0.63 earnings per share for the current year.

Insider Activity at Altair Engineering

In other Altair Engineering news, major shareholder Jrs Investments Llc sold 5,000 shares of the business’s stock in a transaction on Friday, February 16th. The stock was sold at an average price of $91.07, for a total value of $455,350.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other news, major shareholder George J. Christ sold 12,760 shares of the stock in a transaction that occurred on Friday, March 22nd. The shares were sold at an average price of $86.71, for a total transaction of $1,106,419.60. Following the sale, the insider now owns 287,240 shares in the company, valued at $24,906,580.40. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, major shareholder Jrs Investments Llc sold 5,000 shares of the business’s stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $91.07, for a total transaction of $455,350.00. The disclosure for this sale can be found here. Insiders sold a total of 161,830 shares of company stock valued at $13,876,320 in the last 90 days. Corporate insiders own 21.75% of the company’s stock.

Institutional Trading of Altair Engineering

A number of institutional investors and hedge funds have recently modified their holdings of the business. Matrix Capital Management Company LP lifted its holdings in shares of Altair Engineering by 8.3% during the fourth quarter. Matrix Capital Management Company LP now owns 12,233,174 shares of the software’s stock valued at $1,029,422,000 after purchasing an additional 932,717 shares in the last quarter. Bain Capital Public Equity Management II LLC bought a new position in Altair Engineering during the 4th quarter valued at about $57,728,000. Wellington Management Group LLP purchased a new stake in shares of Altair Engineering during the 3rd quarter valued at about $37,487,000. Victory Capital Management Inc. grew its stake in shares of Altair Engineering by 95.7% in the third quarter. Victory Capital Management Inc. now owns 392,414 shares of the software’s stock worth $24,549,000 after acquiring an additional 191,866 shares during the period. Finally, Vanguard Group Inc. raised its holdings in shares of Altair Engineering by 3.2% during the third quarter. Vanguard Group Inc. now owns 5,727,942 shares of the software’s stock valued at $358,340,000 after purchasing an additional 179,838 shares during the last quarter. 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.