Altair Engineering Inc. (NASDAQ:ALTR) Given Consensus Rating of “Moderate Buy” by Analysts

Altair Engineering Inc. (NASDAQ:ALTR) has been assigned a consensus recommendation of “Moderate Buy” from the six research firms that are covering the company, MarketBeat.com reports. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $90.00.

Several analysts have recently commented on ALTR shares. Rosenblatt Securities restated a “neutral” rating and issued a $88.00 target price on shares of Altair Engineering in a research note on Monday. Needham & Company LLC reaffirmed a “buy” rating and set a $100.00 target price on shares of Altair Engineering in a research report on Monday, March 25th. Oppenheimer increased their target price on Altair Engineering from $95.00 to $100.00 and gave the stock an “outperform” rating in a report on Friday, February 23rd. Royal Bank of Canada restated a “sector perform” rating and set a $90.00 price target on shares of Altair Engineering in a research note on Thursday, March 21st. Finally, JPMorgan Chase & Co. raised their price objective on shares of Altair Engineering from $86.00 to $95.00 and gave the company an “overweight” rating in a research note on Tuesday, March 26th.

Insider Buying and Selling at Altair Engineering

In other news, CEO James Ralph Scapa sold 10,000 shares of the company’s stock in a transaction on Friday, February 16th. The shares were sold at an average price of $91.07, for a total value of $910,700.00. Following the completion of the sale, the chief executive officer now owns 103,591 shares in the company, valued at approximately $9,434,032.37. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, CFO Matthew Charles Brown sold 4,363 shares of the business’s stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $83.65, for a total value of $364,964.95. Following the transaction, the chief financial officer now owns 48,742 shares in the company, valued at approximately $4,077,268.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO James Ralph Scapa sold 10,000 shares of the stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $91.07, for a total value of $910,700.00. Following the sale, the chief executive officer now directly owns 103,591 shares of the company’s stock, valued at $9,434,032.37. The disclosure for this sale can be found here. In the last three months, insiders have sold 161,830 shares of company stock worth $13,876,320. Corporate insiders own 21.75% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of ALTR. Matrix Capital Management Company LP boosted its holdings in shares of Altair Engineering by 8.3% in the 4th quarter. Matrix Capital Management Company LP now owns 12,233,174 shares of the software’s stock worth $1,029,422,000 after buying an additional 932,717 shares during the last quarter. Bain Capital Public Equity Management II LLC bought a new position in shares of Altair Engineering during the 4th quarter valued at approximately $57,728,000. Wellington Management Group LLP purchased a new stake in shares of Altair Engineering during the 3rd quarter worth approximately $37,487,000. Victory Capital Management Inc. lifted its stake in Altair Engineering by 95.7% in the third quarter. Victory Capital Management Inc. now owns 392,414 shares of the software’s stock valued at $24,549,000 after purchasing an additional 191,866 shares during the last quarter. Finally, Vanguard Group Inc. lifted its stake in Altair Engineering by 3.2% in the third quarter. Vanguard Group Inc. now owns 5,727,942 shares of the software’s stock valued at $358,340,000 after purchasing an additional 179,838 shares during the last quarter. Institutional investors own 63.38% of the company’s stock.

Altair Engineering Price Performance

Shares of ALTR opened at $81.41 on Thursday. The firm has a market cap of $6.72 billion, a PE ratio of -619.23, a price-to-earnings-growth ratio of 10.99 and a beta of 1.42. Altair Engineering has a 52-week low of $57.59 and a 52-week high of $92.92. The business’s 50 day moving average price is $83.57 and its two-hundred day moving average price is $79.12. The company has a debt-to-equity ratio of 0.32, a quick ratio of 2.16 and a current ratio of 2.16.

Altair Engineering (NASDAQ:ALTR) last released its earnings results on Thursday, February 22nd. The software reported $0.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.22 by $0.07. The company had revenue of $171.50 million for the quarter, compared to the consensus estimate of $172.48 million. Altair Engineering had a negative net margin of 1.46% and a positive return on equity of 3.77%. On average, equities analysts anticipate that Altair Engineering will post 0.63 EPS for the current year.

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.