Altair Engineering Inc. (NASDAQ:ALTR) Receives $90.00 Consensus Price Target from Analysts

Shares of Altair Engineering Inc. (NASDAQ:ALTR) have received a consensus rating of “Moderate Buy” from the six ratings firms that are presently covering the company, Marketbeat.com reports. Three analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 1-year price target among analysts that have covered the stock in the last year is $90.00.

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

Insiders Place Their Bets

In other Altair Engineering news, major shareholder Christ Revocable Trust sold 3,904 shares of the business’s stock in a transaction dated Tuesday, March 26th. The shares were sold at an average price of $85.42, for a total transaction of $333,479.68. Following the sale, the insider now directly owns 283,336 shares of the company’s stock, valued at approximately $24,202,561.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Altair Engineering news, CEO James Ralph Scapa sold 10,000 shares of the business’s stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $80.74, for a total transaction of $807,400.00. Following the sale, the chief executive officer now directly owns 139,605 shares of the company’s stock, valued at approximately $11,271,707.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Christ Revocable Trust sold 3,904 shares of the business’s stock in a transaction dated Tuesday, March 26th. The stock was sold at an average price of $85.42, for a total transaction of $333,479.68. Following the sale, the insider now directly owns 283,336 shares in the company, valued at $24,202,561.12. The disclosure for this sale can be found here. Insiders have sold 161,830 shares of company stock valued at $13,876,320 in the last three months. 21.75% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Altair Engineering

Institutional investors and hedge funds have recently modified their holdings of the company. McGlone Suttner Wealth Management Inc. bought a new stake in shares of Altair Engineering in the 4th quarter valued at about $31,000. EdgeRock Capital LLC bought a new stake in shares of Altair Engineering in the 4th quarter valued at about $33,000. Harvest Fund Management Co. Ltd raised its holdings in shares of Altair Engineering by 1,157.7% in the 4th quarter. Harvest Fund Management Co. Ltd now owns 981 shares of the software’s stock valued at $83,000 after purchasing an additional 903 shares during the period. Natixis Investment Managers International raised its holdings in shares of Altair Engineering by 68.7% in the 4th quarter. Natixis Investment Managers International now owns 1,940 shares of the software’s stock valued at $163,000 after purchasing an additional 790 shares during the period. Finally, Allspring Global Investments Holdings LLC raised its holdings in shares of Altair Engineering by 10.5% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 1,991 shares of the software’s stock valued at $125,000 after purchasing an additional 190 shares during the period. 63.38% of the stock is owned by institutional investors.

Altair Engineering Price Performance

Shares of ALTR stock opened at $82.46 on Thursday. Altair Engineering has a 12-month low of $57.59 and a 12-month high of $92.92. The firm has a market capitalization of $6.80 billion, a price-to-earnings ratio of -634.31, a price-to-earnings-growth ratio of 11.14 and a beta of 1.42. The company has a quick ratio of 2.16, a current ratio of 2.16 and a debt-to-equity ratio of 0.32. The firm has a fifty day moving average of $83.71 and a 200-day moving average of $79.02.

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