Altair Engineering (ALTR) Upgraded at Zacks Investment Research

Zacks Investment Research upgraded shares of Altair Engineering (NASDAQ:ALTR) from a sell rating to a hold rating in a report published on Monday morning, Zacks.com reports.

According to Zacks, “Altair Engineering Inc. is focused on the development and broad application of simulation technology to synthesize and optimize designs, processes and decisions for business performance. The company serves broad industry segments. Altair Engineering Inc. is headquartered in Michigan, USA. “

A number of other analysts have also issued reports on the company. Guggenheim began coverage on Altair Engineering in a research note on Tuesday, March 19th. They issued a neutral rating and a $37.70 price target on the stock. Needham & Company LLC lifted their price target on Altair Engineering from $40.00 to $42.00 and gave the stock a buy rating in a research note on Thursday, March 14th. Finally, ValuEngine raised Altair Engineering from a hold rating to a buy rating in a research note on Monday, February 4th. Five equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Altair Engineering has an average rating of Hold and a consensus price target of $38.67.

Shares of NASDAQ:ALTR opened at $37.17 on Monday. The company has a current ratio of 1.21, a quick ratio of 1.19 and a debt-to-equity ratio of 0.11. The company has a market capitalization of $2.62 billion, a PE ratio of 100.46 and a beta of 1.60. Altair Engineering has a 1 year low of $25.28 and a 1 year high of $43.99.

Altair Engineering (NASDAQ:ALTR) last issued its quarterly earnings results on Thursday, May 9th. The software reported $0.26 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.22 by $0.04. The firm had revenue of $127.86 million for the quarter, compared to analyst estimates of $125.82 million. Altair Engineering had a return on equity of 8.25% and a net margin of 0.50%. The business’s revenue was up 12.9% on a year-over-year basis. During the same period in the previous year, the company posted $0.35 earnings per share. Research analysts anticipate that Altair Engineering will post 0.45 EPS for the current fiscal year.

In other Altair Engineering news, President Brett R. Chouinard sold 8,000 shares of the business’s stock in a transaction on Tuesday, April 16th. The stock was sold at an average price of $36.53, for a total transaction of $292,240.00. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, President Brett R. Chouinard sold 4,000 shares of the business’s stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $35.61, for a total value of $142,440.00. The disclosure for this sale can be found here. Insiders have sold 224,372 shares of company stock worth $8,326,045 in the last three months. 29.27% of the stock is currently owned by corporate insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Well Done LLC lifted its position in Altair Engineering by 0.7% during the 1st quarter. Well Done LLC now owns 52,106 shares of the software’s stock worth $1,918,000 after acquiring an additional 355 shares during the period. Royce & Associates LP lifted its position in Altair Engineering by 22.6% during the 1st quarter. Royce & Associates LP now owns 83,154 shares of the software’s stock worth $3,061,000 after acquiring an additional 15,338 shares during the period. Acadian Asset Management LLC acquired a new stake in Altair Engineering during the 1st quarter worth approximately $163,000. Parametric Portfolio Associates LLC lifted its position in Altair Engineering by 7.9% during the 1st quarter. Parametric Portfolio Associates LLC now owns 14,702 shares of the software’s stock worth $541,000 after acquiring an additional 1,082 shares during the period. Finally, First Trust Advisors LP lifted its position in Altair Engineering by 0.9% during the 1st quarter. First Trust Advisors LP now owns 59,237 shares of the software’s stock worth $2,181,000 after acquiring an additional 511 shares during the period. 38.23% of the stock is currently owned by institutional investors.

Altair Engineering Company Profile

Altair Engineering Inc, together with its subsidiaries, provides software and cloud solutions worldwide. The company operates through two segments, Software and Client Engineering Services. Its integrated suite of multi-disciplinary computer aided engineering software optimizes design performance across various disciplines, including structures, motion, fluids, thermal management, electromagnetics, system modeling and embedded systems.

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