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

Shares of Altair Engineering Inc. (NASDAQ:ALTR) have been given a consensus recommendation of “Hold” by the nine ratings firms that are currently covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, seven have assigned a hold recommendation and one has issued a buy recommendation on the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $100.71.

Several analysts recently issued reports on ALTR shares. Needham & Company LLC reaffirmed a “hold” rating and issued a $100.00 price target on shares of Altair Engineering in a report on Thursday, October 31st. Rosenblatt Securities upped their price objective on Altair Engineering from $88.00 to $113.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. Royal Bank of Canada boosted their price target on Altair Engineering from $90.00 to $113.00 and gave the company a “sector perform” rating in a report on Thursday, October 31st. Wolfe Research downgraded shares of Altair Engineering from a “strong-buy” rating to a “hold” rating in a report on Sunday, November 3rd. Finally, Loop Capital reaffirmed a “hold” rating and issued a $113.00 price target on shares of Altair Engineering in a report on Thursday, October 31st.

Altair Engineering Price Performance

ALTR stock opened at $109.65 on Monday. The company has a market capitalization of $9.33 billion, a PE ratio of 288.56, a P/E/G ratio of 12.16 and a beta of 1.42. The company has a quick ratio of 3.27, a current ratio of 3.27 and a debt-to-equity ratio of 0.27. The stock’s 50 day moving average is $106.12 and its two-hundred day moving average is $97.36. Altair Engineering has a 52-week low of $75.71 and a 52-week high of $113.12.

Insider Activity at Altair Engineering

In other Altair Engineering news, insider Ravi Kunju sold 360 shares of the business’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $103.65, for a total transaction of $37,314.00. Following the sale, the insider now directly owns 30,305 shares in the company, valued at approximately $3,141,113.25. The trade was a 1.17 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Christ Revocable Trust sold 100,000 shares of the firm’s stock in a transaction that occurred on Wednesday, October 23rd. The shares were sold at an average price of $106.57, for a total transaction of $10,657,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 331,399 shares of company stock worth $33,519,513 over the last ninety days. 21.75% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of ALTR. William Blair Investment Management LLC acquired a new position in shares of Altair Engineering in the 2nd quarter worth approximately $91,589,000. Principal Financial Group Inc. increased its holdings in shares of Altair Engineering by 772.7% in the second quarter. Principal Financial Group Inc. now owns 212,560 shares of the software’s stock valued at $20,848,000 after buying an additional 188,203 shares in the last quarter. Great Lakes Advisors LLC acquired a new stake in shares of Altair Engineering during the 2nd quarter valued at $13,343,000. Candriam S.C.A. boosted its stake in shares of Altair Engineering by 28.9% during the 2nd quarter. Candriam S.C.A. now owns 560,565 shares of the software’s stock worth $54,978,000 after acquiring an additional 125,816 shares in the last quarter. Finally, Rhumbline Advisers grew its holdings in shares of Altair Engineering by 127.2% in the 2nd quarter. Rhumbline Advisers now owns 178,788 shares of the software’s stock worth $17,536,000 after acquiring an additional 100,106 shares during the last quarter. 63.38% of the stock is owned by institutional investors and hedge funds.

Altair Engineering Company Profile

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.