Altair Engineering Inc. (NASDAQ:ALTR) Receives $90.67 Consensus PT from Analysts

Altair Engineering Inc. (NASDAQ:ALTR) has earned a consensus rating of “Hold” from the six ratings firms that are covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and two have issued a buy recommendation on the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $90.67.

A number of equities analysts recently weighed in on ALTR shares. 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 report on Monday, July 15th. The Goldman Sachs Group downgraded Altair Engineering from a “neutral” rating to a “sell” rating and reduced their target price for the stock from $85.00 to $71.00 in a research note on Friday, August 2nd. Finally, Needham & Company LLC reissued a “buy” rating and issued a $100.00 price target on shares of Altair Engineering in a research note on Friday, August 2nd.

Altair Engineering Price Performance

NASDAQ:ALTR opened at $94.87 on Friday. The company has a debt-to-equity ratio of 0.29, a current ratio of 3.14 and a quick ratio of 3.14. The company has a 50 day moving average price of $89.05 and a 200-day moving average price of $88.94. Altair Engineering has a 1-year low of $57.59 and a 1-year high of $101.39. The firm has a market cap of $7.88 billion, a price-to-earnings ratio of 1,054.11, a price-to-earnings-growth ratio of 12.01 and a beta of 1.45.

Altair Engineering (NASDAQ:ALTR) last released its quarterly earnings data on Thursday, August 1st. The software reported $0.16 earnings per share for the quarter, beating 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 company had revenue of $148.80 million during the quarter, compared to analysts’ expectations of $146.88 million. During the same quarter in the previous year, the company earned ($0.15) earnings per share. The firm’s revenue for the quarter was up 5.4% on a year-over-year basis. Equities research analysts forecast that Altair Engineering will post 0.65 EPS for the current year.

Insider Transactions at Altair Engineering

In related news, CEO James Ralph Scapa sold 13,000 shares of the business’s stock in a transaction that occurred on Monday, July 29th. The stock was sold at an average price of $88.11, for a total transaction of $1,145,430.00. Following the completion of the sale, the chief executive officer now directly owns 134,045 shares in the company, valued at $11,810,704.95. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Teresa A. Harris sold 620 shares of the company’s stock in a transaction dated Tuesday, July 9th. The shares were sold at an average price of $97.73, for a total transaction of $60,592.60. Following the completion of the sale, the director now owns 21,242 shares of the company’s stock, valued at approximately $2,075,980.66. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO James Ralph Scapa sold 13,000 shares of the firm’s stock in a transaction that occurred on Monday, July 29th. The stock was sold at an average price of $88.11, for a total transaction of $1,145,430.00. Following the completion of the transaction, the chief executive officer now directly owns 134,045 shares in the company, valued at $11,810,704.95. The disclosure for this sale can be found here. Insiders have sold 40,860 shares of company stock valued at $3,621,825 over the last ninety days. Insiders own 21.75% of the company’s stock.

Institutional Investors Weigh In On Altair Engineering

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Matrix Capital Management Company LP boosted its stake in Altair Engineering by 1.6% during the first quarter. Matrix Capital Management Company LP now owns 12,430,000 shares of the software’s stock worth $1,070,844,000 after buying an additional 196,826 shares during the last quarter. Vanguard Group Inc. boosted its position in shares of Altair Engineering by 3.2% during the 1st quarter. Vanguard Group Inc. now owns 5,944,285 shares of the software’s stock valued at $512,100,000 after acquiring an additional 182,840 shares during the last quarter. Conestoga Capital Advisors LLC grew its holdings in shares of Altair Engineering by 2.0% in the second quarter. Conestoga Capital Advisors LLC now owns 2,488,566 shares of the software’s stock valued at $244,079,000 after purchasing an additional 48,485 shares during the period. Wellington Management Group LLP increased its position in Altair Engineering by 97.3% during the fourth quarter. Wellington Management Group LLP now owns 1,182,339 shares of the software’s stock worth $99,494,000 after purchasing an additional 583,127 shares during the last quarter. Finally, William Blair Investment Management LLC purchased a new position in Altair Engineering during the second quarter worth about $91,589,000. Institutional investors and hedge funds own 63.38% of the company’s stock.

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.