Altair Engineering’s (ALTR) “Hold” Rating Reiterated at Loop Capital

Altair Engineering (NASDAQ:ALTR)‘s stock had its “hold” rating reiterated by research analysts at Loop Capital in a research report issued on Thursday, Benzinga reports. They currently have a $113.00 price target on the software’s stock. Loop Capital’s price objective would indicate a potential upside of 4.02% from the company’s current price.

Other equities research analysts have also issued research reports about the company. William Blair reissued a “market perform” rating on shares of Altair Engineering in a research note on Thursday. Needham & Company LLC reiterated a “buy” rating and set a $100.00 target price on shares of Altair Engineering in a research report on Friday, August 2nd. JPMorgan Chase & Co. cut Altair Engineering from an “overweight” rating to a “neutral” rating and set a $95.00 price target for the company. in a research report on Monday, July 15th. Rosenblatt Securities boosted their price objective on shares of Altair Engineering from $88.00 to $113.00 and gave the stock a “neutral” rating in a research report on Thursday. Finally, The Goldman Sachs Group downgraded shares of Altair Engineering from a “neutral” rating to a “sell” rating and dropped their target price for the company from $85.00 to $71.00 in a report on Friday, August 2nd. One research analyst has rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $97.43.

Altair Engineering Price Performance

Shares of NASDAQ ALTR opened at $108.63 on Thursday. The company has a debt-to-equity ratio of 0.29, a quick ratio of 3.14 and a current ratio of 3.14. Altair Engineering has a one year low of $57.59 and a one year high of $113.12. The firm has a market capitalization of $9.02 billion, a P/E ratio of 1,207.00, a PEG ratio of 12.15 and a beta of 1.45. The company’s fifty day moving average is $93.72 and its two-hundred day moving average is $91.29.

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

Insider Buying and Selling

In other Altair Engineering news, major shareholder Christ Revocable Trust sold 100,000 shares of the company’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 transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, CEO James Ralph Scapa sold 13,000 shares of Altair Engineering stock in a transaction on Monday, October 28th. The stock was sold at an average price of $102.59, for a total value of $1,333,670.00. Following the completion of the sale, the chief executive officer now owns 134,045 shares of the company’s stock, valued at $13,751,676.55. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Christ Revocable Trust sold 100,000 shares of the stock in a transaction dated Wednesday, October 23rd. The stock was 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. In the last quarter, insiders sold 360,360 shares of company stock worth $35,476,660. 21.75% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of ALTR. Blue Trust Inc. grew its holdings in Altair Engineering by 572.1% in the third quarter. Blue Trust Inc. now owns 289 shares of the software’s stock valued at $28,000 after purchasing an additional 246 shares during the period. GAMMA Investing LLC boosted its holdings in shares of Altair Engineering by 81.7% in the 2nd quarter. GAMMA Investing LLC now owns 418 shares of the software’s stock valued at $41,000 after purchasing an additional 188 shares during the last quarter. FSC Wealth Advisors LLC grew its stake in shares of Altair Engineering by 41.3% during the 2nd quarter. FSC Wealth Advisors LLC now owns 832 shares of the software’s stock valued at $82,000 after buying an additional 243 shares during the period. Van ECK Associates Corp increased its holdings in shares of Altair Engineering by 41.7% during the 2nd quarter. Van ECK Associates Corp now owns 1,057 shares of the software’s stock worth $104,000 after buying an additional 311 shares during the last quarter. Finally, SG Americas Securities LLC acquired a new stake in shares of Altair Engineering during the 1st quarter worth $177,000. Institutional investors and hedge funds 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.