Shares of Altair Engineering Inc (NASDAQ:ALTR) have earned an average recommendation of “Hold” from the eight brokerages that are covering the firm, MarketBeat reports. Two equities research analysts have rated the stock with a sell recommendation, five have given a hold recommendation and one has given a buy recommendation to the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $35.14.
ALTR has been the subject of several research reports. Deutsche Bank lowered shares of Altair Engineering from a “buy” rating to a “hold” rating and set a $36.00 price target for the company. in a report on Friday, August 9th. Goldman Sachs Group initiated coverage on shares of Altair Engineering in a report on Tuesday. They issued a “neutral” rating and a $34.00 price target for the company. JPMorgan Chase & Co. decreased their price target on shares of Altair Engineering from $34.00 to $30.00 and set an “underweight” rating for the company in a report on Friday, November 8th. Zacks Investment Research lowered shares of Altair Engineering from a “hold” rating to a “strong sell” rating in a report on Wednesday. Finally, William Blair lowered shares of Altair Engineering from an “outperform” rating to a “market perform” rating in a report on Friday, November 8th.
In other Altair Engineering news, insider Uwe Schramm sold 8,000 shares of the business’s stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $30.00, for a total transaction of $240,000.00. Also, insider James Dagg sold 6,840 shares of the business’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $35.18, for a total transaction of $240,631.20. The disclosure for this sale can be found here. Insiders have sold a total of 366,055 shares of company stock valued at $12,385,980 over the last three months. 29.27% of the stock is currently owned by company insiders.
A number of institutional investors have recently bought and sold shares of ALTR. First Trust Advisors LP boosted its stake in Altair Engineering by 0.9% during the 1st quarter. First Trust Advisors LP now owns 59,237 shares of the software’s stock valued at $2,181,000 after purchasing an additional 511 shares during the period. Redwood Investments LLC bought a new stake in shares of Altair Engineering during the 2nd quarter worth about $10,555,000. Zurcher Kantonalbank Zurich Cantonalbank bought a new stake in shares of Altair Engineering during the 2nd quarter worth about $73,000. ARK Investment Management LLC bought a new stake in shares of Altair Engineering during the 2nd quarter worth about $1,225,000. Finally, Advisor Group Inc. raised its position in shares of Altair Engineering by 63.7% during the 2nd quarter. Advisor Group Inc. now owns 1,020 shares of the software’s stock worth $41,000 after buying an additional 397 shares in the last quarter. 66.43% of the stock is owned by hedge funds and other institutional investors.
Shares of ALTR stock traded up $0.50 during mid-day trading on Monday, reaching $28.88. The company’s stock had a trading volume of 319,800 shares, compared to its average volume of 483,169. Altair Engineering has a 12-month low of $25.28 and a 12-month high of $43.28. The company’s 50 day simple moving average is $34.20 and its 200-day simple moving average is $36.57. The company has a quick ratio of 2.52, a current ratio of 2.52 and a debt-to-equity ratio of 0.57. The firm has a market capitalization of $2.03 billion, a PE ratio of 78.05 and a beta of 1.50.
Altair Engineering (NASDAQ:ALTR) last posted its quarterly earnings results on Thursday, November 7th. The software reported ($0.09) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.05 by ($0.14). Altair Engineering had a negative net margin of 3.85% and a positive return on equity of 4.40%. The business had revenue of $102.70 million during the quarter, compared to analyst estimates of $105.04 million. During the same period last year, the firm posted $0.10 earnings per share. The company’s quarterly revenue was up 18.3% on a year-over-year basis. As a group, research analysts anticipate that Altair Engineering will post 0.2 EPS for the current fiscal year.
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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