Altair Engineering (ALTR) Forecasted to Post FY2018 Earnings of $0.28 Per Share

Altair Engineering (NASDAQ:ALTR) – William Blair lifted their FY2018 earnings estimates for Altair Engineering in a research report issued to clients and investors on Tuesday, May 15th. William Blair analyst B. Suri now expects that the semiconductor manufacturer will earn $0.28 per share for the year, up from their previous forecast of $0.26.

ALTR has been the topic of a number of other reports. Citigroup raised their target price on shares of Altair Engineering to $37.00 and gave the company a “buy” rating in a research note on Thursday, March 22nd. Needham & Company LLC began coverage on shares of Altair Engineering in a research note on Monday, March 26th. They issued a “buy” rating and a $36.00 target price on the stock. Berenberg Bank restated a “buy” rating and issued a $36.00 price target on shares of Altair Engineering in a research report on Thursday. ValuEngine upgraded shares of Altair Engineering from a “sell” rating to a “hold” rating in a research report on Monday, April 2nd. Finally, JPMorgan Chase raised their price target on shares of Altair Engineering to $34.00 and gave the stock a “neutral” rating in a research report on Thursday, March 22nd. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and five have given a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $32.86.

Altair Engineering opened at $35.84 on Thursday, Marketbeat.com reports. Altair Engineering has a 1 year low of $16.55 and a 1 year high of $37.19. The company has a current ratio of 0.77, a quick ratio of 0.72 and a debt-to-equity ratio of 0.01. The firm has a market capitalization of $2.22 billion and a P/E ratio of -56.89.

Altair Engineering (NASDAQ:ALTR) last posted its earnings results on Monday, May 14th. The semiconductor manufacturer reported $0.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.03 by $0.05. The firm had revenue of $91.70 million during the quarter, compared to analyst estimates of $87.01 million. The company’s revenue was up 19.2% on a year-over-year basis.

A number of hedge funds and other institutional investors have recently bought and sold shares of ALTR. Bamco Inc. NY acquired a new stake in Altair Engineering in the 4th quarter worth $50,245,000. BlackRock Inc. acquired a new stake in Altair Engineering in the 4th quarter worth $16,950,000. Royal Bank of Canada grew its position in Altair Engineering by 105.2% in the 1st quarter. Royal Bank of Canada now owns 1,312,947 shares of the semiconductor manufacturer’s stock worth $41,175,000 after purchasing an additional 673,190 shares during the last quarter. Eaton Vance Management acquired a new stake in Altair Engineering in the 4th quarter worth $14,402,000. Finally, Contour Asset Management LLC acquired a new stake in Altair Engineering in the 1st quarter worth $17,691,000. Institutional investors own 20.36% of the company’s stock.

Altair Engineering Company Profile

Altair Engineering Inc, together with its subsidiaries, provides enterprise-class engineering software 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, as well as provides data analytics and true-to-life visualization and rendering.

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