Analysts Set Altair Engineering Inc. (NASDAQ:ALTR) Target Price at $100.71

Altair Engineering Inc. (NASDAQ:ALTR) has earned a consensus recommendation of “Hold” from the nine brokerages that are currently covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and one has assigned a buy rating to the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $100.71.

Several research firms have commented on ALTR. Rosenblatt Securities lifted their price target on Altair Engineering from $88.00 to $113.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. Loop Capital reaffirmed a “hold” rating and set a $113.00 price target on shares of Altair Engineering in a research report on Thursday, October 31st. The Goldman Sachs Group downgraded Altair Engineering from a “neutral” rating to a “sell” rating and lowered their price target for the company from $85.00 to $71.00 in a report on Friday, August 2nd. William Blair reiterated a “market perform” rating on shares of Altair Engineering in a research note on Thursday, October 31st. Finally, Needham & Company LLC reiterated a “hold” rating and issued a $100.00 price target on shares of Altair Engineering in a research note on Thursday, October 31st.

Altair Engineering Stock Performance

Shares of Altair Engineering stock opened at $104.00 on Friday. The company has a debt-to-equity ratio of 0.27, a current ratio of 3.27 and a quick ratio of 3.27. Altair Engineering has a 1 year low of $68.87 and a 1 year high of $113.12. The business has a 50 day moving average price of $96.33 and a 200 day moving average price of $92.74. The company has a market capitalization of $8.85 billion, a P/E ratio of 273.69, a P/E/G ratio of 11.91 and a beta of 1.44.

Insider Buying and Selling

In other Altair Engineering news, major shareholder Christ Revocable Trust sold 100,000 shares of the firm’s stock in a transaction dated Wednesday, October 23rd. The shares were sold at an average price of $106.57, for a total transaction of $10,657,000.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, CEO James Ralph Scapa sold 13,000 shares of the company’s stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $89.04, for a total value of $1,157,520.00. Following the completion of the sale, the chief executive officer now owns 134,045 shares in the company, valued at $11,935,366.80. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, major shareholder Christ Revocable Trust sold 100,000 shares of the firm’s stock in a transaction dated Wednesday, October 23rd. The shares were sold at an average price of $106.57, for a total value of $10,657,000.00. The disclosure for this sale can be found here. Insiders sold 362,544 shares of company stock valued at $35,717,201 over the last 90 days. 21.75% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Altair Engineering

Large investors have recently made changes to their positions in the business. SG Americas Securities LLC acquired a new stake in Altair Engineering during the first quarter valued at approximately $177,000. Swiss National Bank grew its holdings in shares of Altair Engineering by 1.2% in the 1st quarter. Swiss National Bank now owns 107,800 shares of the software’s stock worth $9,287,000 after acquiring an additional 1,300 shares during the last quarter. Sei Investments Co. raised its position in shares of Altair Engineering by 40.6% during the first quarter. Sei Investments Co. now owns 30,813 shares of the software’s stock worth $2,655,000 after purchasing an additional 8,905 shares during the period. QRG Capital Management Inc. lifted its holdings in shares of Altair Engineering by 9.5% during the first quarter. QRG Capital Management Inc. now owns 20,532 shares of the software’s stock valued at $1,769,000 after purchasing an additional 1,781 shares during the last quarter. Finally, Russell Investments Group Ltd. boosted its position in shares of Altair Engineering by 5,564.8% in the 1st quarter. Russell Investments Group Ltd. now owns 31,043 shares of the software’s stock valued at $2,676,000 after purchasing an additional 30,495 shares during the period. Institutional investors own 63.38% of the company’s stock.

About Altair Engineering

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.