Altair Engineering (ALTR) Downgraded to “Hold” at Zacks Investment Research

Zacks Investment Research lowered shares of Altair Engineering (NASDAQ:ALTR) from a buy rating to a hold rating in a report released on Monday.

According to Zacks, “Altair Engineering Inc. is focused on the development and broad application of simulation technology to synthesize and optimize designs, processes and decisions for business performance. The company serves broad industry segments. Altair Engineering Inc. is headquartered in Michigan, USA. “

Other equities research analysts also recently issued research reports about the company. ValuEngine raised Altair Engineering from a hold rating to a buy rating in a report on Saturday, December 1st. Canaccord Genuity reissued a hold rating and issued a $36.00 price objective on shares of Altair Engineering in a report on Tuesday, November 13th. Finally, William Blair reissued an outperform rating on shares of Altair Engineering in a report on Thursday, August 23rd. Four research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The company presently has a consensus rating of Buy and a consensus price target of $38.43.

NASDAQ ALTR opened at $27.29 on Monday. The company has a market capitalization of $1.93 billion and a PE ratio of 119.13. Altair Engineering has a 12 month low of $21.04 and a 12 month high of $43.99.

Altair Engineering (NASDAQ:ALTR) last released its quarterly earnings data on Thursday, November 8th. The semiconductor manufacturer reported $0.06 EPS for the quarter, meeting the consensus estimate of $0.06. The company had revenue of $93.87 million during the quarter, compared to the consensus estimate of $95.48 million. Altair Engineering had a positive return on equity of 13.76% and a negative net margin of 12.83%. Analysts forecast that Altair Engineering will post 0.32 earnings per share for the current year.

Institutional investors have recently made changes to their positions in the business. Strs Ohio bought a new position in Altair Engineering during the 3rd quarter worth $986,000. Wells Fargo & Company MN increased its position in Altair Engineering by 75.8% during the 2nd quarter. Wells Fargo & Company MN now owns 578,144 shares of the semiconductor manufacturer’s stock worth $19,761,000 after buying an additional 249,369 shares during the period. Janus Henderson Group PLC increased its position in Altair Engineering by 28.1% during the 2nd quarter. Janus Henderson Group PLC now owns 514,520 shares of the semiconductor manufacturer’s stock worth $17,586,000 after buying an additional 112,872 shares during the period. Schwab Charles Investment Management Inc. increased its position in Altair Engineering by 100.7% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 130,511 shares of the semiconductor manufacturer’s stock worth $4,461,000 after buying an additional 65,484 shares during the period. Finally, BlackRock Inc. increased its position in Altair Engineering by 177.3% during the 2nd quarter. BlackRock Inc. now owns 2,199,018 shares of the semiconductor manufacturer’s stock worth $75,161,000 after buying an additional 1,406,125 shares during the period. 38.30% of the stock is owned by institutional investors and hedge funds.

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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