Altair Engineering Inc. (NASDAQ:ALTR – Get Free Report) major shareholder George J. Christ sold 50,000 shares of the stock in a transaction dated Friday, May 17th. The stock was sold at an average price of $90.36, for a total transaction of $4,518,000.00. Following the transaction, the insider now directly owns 250,000 shares in the company, valued at approximately $22,590,000. The transaction was disclosed in a filing with the SEC, which is available through this link. Major shareholders that own 10% or more of a company’s stock are required to disclose their sales and purchases with the SEC.
Altair Engineering Stock Down 0.1 %
ALTR opened at $90.65 on Thursday. The company has a fifty day moving average price of $84.33 and a 200-day moving average price of $81.80. The firm has a market capitalization of $7.53 billion, a P/E ratio of 1,007.22, a price-to-earnings-growth ratio of 11.51 and a beta of 1.42. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.46 and a quick ratio of 2.46. Altair Engineering Inc. has a one year low of $57.59 and a one year high of $92.92.
Altair Engineering (NASDAQ:ALTR – Get Free Report) last posted its quarterly earnings data on Thursday, May 2nd. The software reported $0.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.34 by $0.06. Altair Engineering had a net margin of 1.55% and a return on equity of 5.60%. The company had revenue of $172.91 million during the quarter, compared to the consensus estimate of $169.29 million. During the same period in the previous year, the firm posted $0.13 EPS. The firm’s revenue was up 4.1% compared to the same quarter last year. Equities research analysts expect that Altair Engineering Inc. will post 0.66 earnings per share for the current fiscal year.
Institutional Trading of Altair Engineering
Wall Street Analysts Forecast Growth
A number of research firms have recently issued reports on ALTR. Rosenblatt Securities reissued a “neutral” rating and set a $88.00 price objective on shares of Altair Engineering in a research report on Monday, April 29th. Needham & Company LLC reissued a “buy” rating and set a $100.00 target price on shares of Altair Engineering in a research report on Friday, May 3rd. 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. JPMorgan Chase & Co. raised their price target on shares of Altair Engineering from $86.00 to $95.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 26th. Finally, Oppenheimer lifted their price objective on shares of Altair Engineering from $95.00 to $100.00 and gave the company an “outperform” rating in a research note on Friday, February 23rd. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $94.60.
Get Our Latest Stock Analysis on ALTR
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.
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