Analysts Set Altair Engineering Inc. (NASDAQ:ALTR) Price Target at $90.67

Shares of Altair Engineering Inc. (NASDAQ:ALTR) have been given a consensus rating of “Hold” by the six ratings firms that are presently covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating on the company. The average 1-year target price among analysts that have covered the stock in the last year is $90.67.

Several research firms have recently weighed in on ALTR. JPMorgan Chase & Co. lowered Altair Engineering from an “overweight” rating to a “neutral” rating and set a $95.00 price objective for the company. in a research note on Monday, July 15th. Needham & Company LLC reiterated a “buy” rating and issued a $100.00 price target on shares of Altair Engineering in a research report on Friday, August 2nd. Finally, The Goldman Sachs Group downgraded Altair Engineering from a “neutral” rating to a “sell” rating and cut their price objective for the stock from $85.00 to $71.00 in a report on Friday, August 2nd.

Altair Engineering Price Performance

Shares of NASDAQ ALTR opened at $95.66 on Wednesday. Altair Engineering has a twelve month low of $57.59 and a twelve month high of $101.39. The company has a current ratio of 3.14, a quick ratio of 3.14 and a debt-to-equity ratio of 0.29. The firm has a 50-day moving average of $91.38 and a two-hundred day moving average of $90.15. The company has a market capitalization of $7.94 billion, a price-to-earnings ratio of 1,062.89, a PEG ratio of 12.15 and a beta of 1.45.

Altair Engineering (NASDAQ:ALTR) last released its earnings results on Thursday, August 1st. The software reported $0.16 EPS for the quarter, beating the consensus estimate of $0.15 by $0.01. The business had revenue of $148.80 million during the quarter, compared to analyst estimates of $146.88 million. Altair Engineering had a net margin of 4.26% and a return on equity of 6.89%. The business’s quarterly revenue was up 5.4% on a year-over-year basis. During the same period in the prior year, the business earned ($0.15) earnings per share. As a group, analysts expect that Altair Engineering will post 0.65 earnings per share for the current fiscal year.

Insider Activity at Altair Engineering

In other Altair Engineering news, major shareholder George J. Christ sold 2,176 shares of the firm’s stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $95.31, for a total transaction of $207,394.56. Following the completion of the sale, the insider now directly owns 300,000 shares in the company, valued at approximately $28,593,000. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, CEO James Ralph Scapa sold 13,000 shares of Altair Engineering stock in a transaction on Monday, July 29th. The stock was sold at an average price of $88.11, for a total transaction of $1,145,430.00. Following the completion of the sale, the chief executive officer now owns 134,045 shares of the company’s stock, valued at approximately $11,810,704.95. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder George J. Christ sold 2,176 shares of the company’s stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $95.31, for a total value of $207,394.56. Following the completion of the transaction, the insider now directly owns 300,000 shares in the company, valued at approximately $28,593,000. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 260,360 shares of company stock valued at $24,537,300. Company insiders own 21.75% of the company’s stock.

Institutional Investors Weigh In On Altair Engineering

Several large investors have recently made changes to their positions in the company. Teachers Retirement System of The State of Kentucky raised its position in Altair Engineering by 28.1% during the fourth quarter. Teachers Retirement System of The State of Kentucky now owns 21,478 shares of the software’s stock valued at $1,807,000 after acquiring an additional 4,712 shares in the last quarter. American International Group Inc. increased its stake in shares of Altair Engineering by 0.7% during the 4th quarter. American International Group Inc. now owns 27,018 shares of the software’s stock worth $2,274,000 after purchasing an additional 189 shares during the last quarter. Wellington Management Group LLP raised its holdings in shares of Altair Engineering by 97.3% during the 4th quarter. Wellington Management Group LLP now owns 1,182,339 shares of the software’s stock valued at $99,494,000 after purchasing an additional 583,127 shares in the last quarter. Fisher Asset Management LLC lifted its stake in shares of Altair Engineering by 3.9% in the 4th quarter. Fisher Asset Management LLC now owns 61,493 shares of the software’s stock valued at $5,175,000 after purchasing an additional 2,301 shares during the last quarter. Finally, Vanguard Group Inc. boosted its holdings in Altair Engineering by 0.6% in the fourth quarter. Vanguard Group Inc. now owns 5,761,445 shares of the software’s stock worth $484,826,000 after purchasing an additional 33,503 shares in the last quarter. 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.