Altair Engineering (NASDAQ:ALTR) Releases Earnings Results

Altair Engineering (NASDAQ:ALTR) announced its earnings results on Thursday. The software reported $0.36 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.15), Zacks reports. Altair Engineering had a return on equity of 7.49% and a net margin of 5.10%.

Altair Engineering Trading Up 0.5 %

Altair Engineering stock traded up $0.53 during midday trading on Thursday, hitting $111.78. 886,505 shares of the stock were exchanged, compared to its average volume of 791,149. Altair Engineering has a 52 week low of $75.71 and a 52 week high of $113.12. 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 has a market capitalization of $9.51 billion, a PE ratio of 294.17, a P/E/G ratio of 10.69 and a beta of 1.42. The company has a fifty day simple moving average of $109.68 and a two-hundred day simple moving average of $101.12.

Insiders Place Their Bets

In other news, CEO James Ralph Scapa sold 13,000 shares of the company’s stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $105.69, for a total value of $1,373,970.00. Following the completion of the transaction, the chief executive officer now owns 134,045 shares in the company, valued at $14,167,216.05. This represents a 8.84 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Matthew Charles Brown sold 1,048 shares of the firm’s stock in a transaction on Monday, December 23rd. The stock was sold at an average price of $108.90, for a total transaction of $114,127.20. Following the sale, the chief financial officer now owns 55,519 shares in the company, valued at approximately $6,046,019.10. The trade was a 1.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 59,143 shares of company stock worth $6,265,694. Company insiders own 21.75% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have issued reports on ALTR shares. Royal Bank of Canada upped their price objective on Altair Engineering from $90.00 to $113.00 and gave the stock a “sector perform” rating in a report on Thursday, October 31st. Needham & Company LLC reaffirmed a “hold” rating and set a $100.00 price target on shares of Altair Engineering in a research note on Thursday, October 31st. Loop Capital reiterated a “hold” rating and issued a $113.00 price objective on shares of Altair Engineering in a research report on Thursday, October 31st. Rosenblatt Securities upped their target price on shares of Altair Engineering from $88.00 to $113.00 and gave the company a “neutral” rating in a research report on Thursday, October 31st. Finally, William Blair reiterated a “market perform” rating on shares of Altair Engineering in a research report on Thursday, October 31st. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $100.71.

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.