Altair Engineering Inc. (NASDAQ:ALTR) Given Average Rating of “Moderate Buy” by Brokerages

Shares of Altair Engineering Inc. (NASDAQ:ALTR) have been given an average rating of “Moderate Buy” by the six ratings firms that are covering the firm, Marketbeat Ratings reports. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $90.00.

Several equities research analysts have recently commented on ALTR shares. Oppenheimer lifted their price target on shares of Altair Engineering from $95.00 to $100.00 and gave the stock an “outperform” rating in a research report on Friday, February 23rd. 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 reiterated a “neutral” rating and set a $88.00 price target (up previously from $74.00) on shares of Altair Engineering in a research report on Friday, February 23rd. Royal Bank of Canada restated a “sector perform” rating and set a $90.00 price objective on shares of Altair Engineering in a report on Thursday, March 21st. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Altair Engineering from $86.00 to $95.00 and gave the company an “overweight” rating in a report on Tuesday, March 26th.

Insider Activity

In other news, major shareholder George J. Christ sold 12,783 shares of the company’s stock in a transaction that occurred on Tuesday, April 9th. The shares were sold at an average price of $85.85, for a total value of $1,097,420.55. Following the completion of the transaction, the insider now owns 187,217 shares in the company, valued at $16,072,579.45. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, major shareholder George J. Christ sold 12,783 shares of the business’s stock in a transaction on Tuesday, April 9th. The shares were sold at an average price of $85.85, for a total value of $1,097,420.55. Following the sale, the insider now owns 187,217 shares of the company’s stock, valued at $16,072,579.45. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CRO Nelson Dias sold 375 shares of the business’s stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $83.65, for a total transaction of $31,368.75. Following the completion of the sale, the executive now directly owns 33,838 shares in the company, valued at approximately $2,830,548.70. The disclosure for this sale can be found here. Insiders sold 161,830 shares of company stock worth $13,876,320 over the last quarter. 21.75% of the stock is currently owned by company insiders.

Institutional Trading of Altair Engineering

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Matrix Capital Management Company LP raised its position in 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 worth $1,029,422,000 after acquiring an additional 932,717 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Altair Engineering by 0.6% in the fourth quarter. Vanguard Group Inc. now owns 5,761,445 shares of the software’s stock valued at $484,826,000 after purchasing an additional 33,503 shares during the period. Conestoga Capital Advisors LLC grew its stake in shares of Altair Engineering by 0.6% in the fourth quarter. Conestoga Capital Advisors LLC now owns 2,424,711 shares of the software’s stock valued at $204,039,000 after acquiring an additional 15,200 shares in the last quarter. Impax Asset Management Group plc grew its stake in shares of Altair Engineering by 6.9% in the third quarter. Impax Asset Management Group plc now owns 2,130,550 shares of the software’s stock valued at $132,570,000 after acquiring an additional 137,933 shares in the last quarter. Finally, Wellington Management Group LLP grew its stake in shares of Altair Engineering by 97.3% in the fourth quarter. Wellington Management Group LLP now owns 1,182,339 shares of the software’s stock valued at $99,494,000 after acquiring an additional 583,127 shares in the last quarter. 63.38% of the stock is owned by institutional investors.

Altair Engineering Price Performance

Shares of Altair Engineering stock opened at $83.45 on Thursday. Altair Engineering has a twelve month low of $57.59 and a twelve month high of $92.92. The firm has a market cap of $6.88 billion, a P/E ratio of -641.92, a price-to-earnings-growth ratio of 10.96 and a beta of 1.42. The firm’s 50-day simple moving average is $84.18 and its 200-day simple moving average is $78.59. 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 (NASDAQ:ALTR) last announced its quarterly earnings results on Thursday, February 22nd. The software reported $0.29 earnings per share (EPS) 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 firm had revenue of $171.50 million during the quarter, compared to the consensus estimate of $172.48 million. As a group, research analysts expect that Altair Engineering will post 0.63 EPS for the current fiscal year.

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.