Altair Engineering Inc. (NASDAQ:ALTR) Receives $100.83 Consensus PT from Analysts

Altair Engineering Inc. (NASDAQ:ALTR) has earned a consensus recommendation of “Reduce” from the eight analysts that are currently covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating and seven have assigned a hold rating to the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $100.83.

Several equities analysts have issued reports on the company. Needham & Company LLC reiterated a “hold” rating on shares of Altair Engineering in a research report on Friday, February 21st. Rosenblatt Securities reiterated a “neutral” rating and issued a $113.00 price objective on shares of Altair Engineering in a research report on Monday, February 24th.

Altair Engineering Stock Performance

Shares of NASDAQ:ALTR opened at $111.85 on Friday. The firm has a 50 day simple moving average of $111.51 and a 200-day simple moving average of $107.41. The company has a market capitalization of $9.60 billion, a PE ratio of 657.94, a P/E/G ratio of 10.75 and a beta of 1.45. Altair Engineering has a twelve month low of $75.71 and a twelve month high of $113.12.

Altair Engineering (NASDAQ:ALTR) last issued its quarterly earnings data on Thursday, February 20th. The software reported $0.36 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.51 by ($0.15). Altair Engineering had a return on equity of 8.08% and a net margin of 2.13%. The business had revenue of $192.63 million for the quarter, compared to analysts’ expectations of $182.98 million. As a group, equities research analysts predict that Altair Engineering will post 0.87 EPS for the current fiscal year.

Insider Buying and Selling

In other Altair Engineering news, Director Teresa A. Harris sold 450 shares of the business’s stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $111.08, for a total transaction of $49,986.00. Following the completion of the sale, the director now owns 18,092 shares in the company, valued at $2,009,659.36. The trade was a 2.43 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CRO Nelson Dias sold 1,671 shares of the stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $111.30, for a total transaction of $185,982.30. Following the sale, the executive now owns 55,411 shares in the company, valued at approximately $6,167,244.30. This trade represents a 2.93 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 12,172 shares of company stock valued at $1,356,847. Corporate insiders own 21.75% of the company’s stock.

Hedge Funds Weigh In On Altair Engineering

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. NBT Bank N A NY raised its stake in shares of Altair Engineering by 76.4% during the fourth quarter. NBT Bank N A NY now owns 247 shares of the software’s stock valued at $27,000 after purchasing an additional 107 shares in the last quarter. UMB Bank n.a. increased its stake in Altair Engineering by 77.0% during the 4th quarter. UMB Bank n.a. now owns 285 shares of the software’s stock valued at $31,000 after buying an additional 124 shares during the period. Johnson Financial Group Inc. bought a new stake in shares of Altair Engineering during the 4th quarter worth about $37,000. GAMMA Investing LLC lifted its stake in shares of Altair Engineering by 14.6% in the 4th quarter. GAMMA Investing LLC now owns 729 shares of the software’s stock worth $80,000 after acquiring an additional 93 shares during the period. Finally, Blue Trust Inc. lifted its stake in shares of Altair Engineering by 185.5% in the 4th quarter. Blue Trust Inc. now owns 825 shares of the software’s stock worth $90,000 after acquiring an additional 536 shares during the period. 63.38% of the stock is owned by institutional investors.

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.