Altair Engineering (NASDAQ:ALTR) Receives “Market Perform” Rating from William Blair

Altair Engineering (NASDAQ:ALTRGet Free Report)‘s stock had its “market perform” rating reaffirmed by analysts at William Blair in a report released on Thursday, Benzinga reports.

Several other analysts have also commented on ALTR. Needham & Company LLC reaffirmed a “buy” rating and issued a $100.00 price objective on shares of Altair Engineering in a report on Friday, August 2nd. Rosenblatt Securities raised their target price on Altair Engineering from $88.00 to $113.00 and gave the stock a “neutral” rating in a research report on Thursday. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $90.00 price target on shares of Altair Engineering in a research report on Wednesday, October 23rd. The Goldman Sachs Group downgraded shares of Altair Engineering from a “neutral” rating to a “sell” rating and dropped their price objective for the stock from $85.00 to $71.00 in a report on Friday, August 2nd. Finally, JPMorgan Chase & Co. cut shares of Altair Engineering from an “overweight” rating to a “neutral” rating and set a $95.00 target price for the company. in a report on Monday, July 15th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, Altair Engineering has a consensus rating of “Hold” and a consensus price target of $97.43.

Check Out Our Latest Analysis on Altair Engineering

Altair Engineering Price Performance

NASDAQ ALTR opened at $108.63 on Thursday. Altair Engineering has a one year low of $57.59 and a one year high of $113.12. The stock has a 50-day moving average of $93.72 and a 200 day moving average of $91.29. The company has a debt-to-equity ratio of 0.29, a quick ratio of 3.14 and a current ratio of 3.14. The company has a market capitalization of $9.02 billion, a price-to-earnings ratio of 1,207.00, a PEG ratio of 12.15 and a beta of 1.45.

Altair Engineering (NASDAQ:ALTRGet Free Report) last announced its quarterly earnings results 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 during the quarter, compared to analyst estimates of $146.88 million. During the same period in the previous year, the business posted ($0.15) earnings per share. The business’s revenue for the quarter was up 5.4% on a year-over-year basis. On average, sell-side analysts forecast that Altair Engineering will post 0.65 EPS for the current year.

Insiders Place Their Bets

In other news, CEO James Ralph Scapa sold 13,000 shares of the firm’s stock in a transaction on Monday, October 28th. The shares were sold at an average price of $102.59, for a total transaction of $1,333,670.00. Following the sale, the chief executive officer now directly owns 134,045 shares in the company, valued at $13,751,676.55. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CEO James Ralph Scapa sold 13,000 shares of the company’s stock in a transaction on Monday, October 28th. The shares were sold at an average price of $102.59, for a total value of $1,333,670.00. Following the completion of the transaction, the chief executive officer now owns 134,045 shares of the company’s stock, valued at approximately $13,751,676.55. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible 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 a total of 360,360 shares of company stock worth $35,476,660 over the last three months. 21.75% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. New York State Teachers Retirement System raised its position in shares of Altair Engineering by 1.2% during the third quarter. New York State Teachers Retirement System now owns 8,500 shares of the software’s stock valued at $812,000 after buying an additional 100 shares during the last quarter. ProShare Advisors LLC increased its holdings in Altair Engineering by 1.6% in the 2nd quarter. ProShare Advisors LLC now owns 10,219 shares of the software’s stock valued at $1,002,000 after acquiring an additional 160 shares during the last quarter. Ballentine Partners LLC increased its holdings in Altair Engineering by 8.5% in the 3rd quarter. Ballentine Partners LLC now owns 2,236 shares of the software’s stock valued at $214,000 after acquiring an additional 175 shares during the last quarter. GAMMA Investing LLC lifted its stake in Altair Engineering by 81.7% in the 2nd quarter. GAMMA Investing LLC now owns 418 shares of the software’s stock worth $41,000 after purchasing an additional 188 shares in the last quarter. Finally, FSC Wealth Advisors LLC boosted its holdings 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 purchasing an additional 243 shares during the last quarter. 63.38% of the stock is owned by hedge funds and other institutional investors.

Altair Engineering Company Profile

(Get Free Report)

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.

Further Reading

Analyst Recommendations for Altair Engineering (NASDAQ:ALTR)

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