Altair Engineering Inc (NASDAQ:ALTR) Receives $39.14 Consensus Target Price from Analysts

Altair Engineering Inc (NASDAQ:ALTR) has been given a consensus rating of “Hold” by the eight analysts that are presently covering the stock, MarketBeat Ratings reports. Six investment analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average 1-year price objective among brokers that have covered the stock in the last year is $39.14.

ALTR has been the topic of several research analyst reports. Zacks Investment Research lowered shares of Altair Engineering from a “buy” rating to a “hold” rating in a research note on Tuesday, July 23rd. ValuEngine lowered shares of Altair Engineering from a “buy” rating to a “hold” rating in a research note on Saturday, May 18th.

Shares of NASDAQ:ALTR traded up $0.76 during trading on Friday, reaching $40.45. The stock had a trading volume of 3,650 shares, compared to its average volume of 315,437. The business’s fifty day moving average is $41.07. The company has a current ratio of 1.09, a quick ratio of 1.06 and a debt-to-equity ratio of 0.12. Altair Engineering has a 52 week low of $25.28 and a 52 week high of $43.99. The stock has a market capitalization of $2.89 billion, a PE ratio of 108.81 and a beta of 1.40.

Altair Engineering (NASDAQ:ALTR) last posted its quarterly earnings data on Thursday, May 9th. The software reported $0.26 EPS for the quarter, beating the Zacks’ consensus estimate of $0.22 by $0.04. Altair Engineering had a net margin of 2.62% and a return on equity of 11.56%. The company had revenue of $127.86 million for the quarter, compared to analyst estimates of $125.82 million. During the same period in the prior year, the firm posted $0.35 EPS. The company’s quarterly revenue was up 12.9% on a year-over-year basis. As a group, research analysts predict that Altair Engineering will post 0.52 earnings per share for the current year.

In other Altair Engineering news, insider Martin E. Nichols sold 2,500 shares of the company’s stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $34.76, for a total transaction of $86,900.00. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, President Brett R. Chouinard sold 7,998 shares of the company’s stock in a transaction on Monday, May 13th. The stock was sold at an average price of $34.13, for a total transaction of $272,971.74. The disclosure for this sale can be found here. Over the last three months, insiders have sold 437,233 shares of company stock worth $17,265,226. 29.27% of the stock is owned by insiders.

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Royce & Associates LP raised its holdings in Altair Engineering by 22.6% during the first quarter. Royce & Associates LP now owns 83,154 shares of the software’s stock worth $3,061,000 after buying an additional 15,338 shares during the last quarter. Well Done LLC raised its holdings in shares of Altair Engineering by 0.7% in the first quarter. Well Done LLC now owns 52,106 shares of the software’s stock valued at $1,918,000 after purchasing an additional 355 shares during the last quarter. Oppenheimer Asset Management Inc. raised its holdings in shares of Altair Engineering by 53.2% in the first quarter. Oppenheimer Asset Management Inc. now owns 11,039 shares of the software’s stock valued at $406,000 after purchasing an additional 3,835 shares during the last quarter. Legal & General Group Plc raised its holdings in shares of Altair Engineering by 313.6% in the fourth quarter. Legal & General Group Plc now owns 18,869 shares of the software’s stock valued at $520,000 after purchasing an additional 14,307 shares during the last quarter. Finally, Lombard Odier Asset Management USA Corp purchased a new stake in shares of Altair Engineering in the first quarter valued at about $2,209,000. Hedge funds and other institutional investors own 38.76% of the company’s stock.

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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Analyst Recommendations for Altair Engineering (NASDAQ:ALTR)

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