Loop Capital Reaffirms Hold Rating for Altair Engineering (NASDAQ:ALTR)

Altair Engineering (NASDAQ:ALTR)‘s stock had its “hold” rating restated by investment analysts at Loop Capital in a research note issued to investors on Thursday, Benzinga reports. They presently have a $113.00 target price on the software’s stock. Loop Capital’s price objective would suggest a potential upside of 4.02% from the company’s current price.

Other equities research analysts have also issued reports about the stock. Rosenblatt Securities raised their price objective on shares of Altair Engineering from $88.00 to $113.00 and gave the company a “neutral” rating in a report on Thursday. The Goldman Sachs Group cut Altair Engineering from a “neutral” rating to a “sell” rating and cut their price target for the company from $85.00 to $71.00 in a research note on Friday, August 2nd. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $90.00 price objective on shares of Altair Engineering in a research report on Wednesday, October 23rd. JPMorgan Chase & Co. lowered Altair Engineering from an “overweight” rating to a “neutral” rating and set a $95.00 target price on the stock. in a research report on Monday, July 15th. Finally, William Blair restated a “market perform” rating on shares of Altair Engineering in a research note on Thursday. One analyst has rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $97.43.

Altair Engineering Price Performance

Shares of NASDAQ ALTR opened at $108.63 on Thursday. The company has a debt-to-equity ratio of 0.29, a current ratio of 3.14 and a quick ratio of 3.14. The company has a market cap of $9.02 billion, a price-to-earnings ratio of 1,207.00, a price-to-earnings-growth ratio of 12.15 and a beta of 1.45. The stock’s 50-day moving average is $93.72 and its two-hundred day moving average is $91.29. Altair Engineering has a 1-year low of $57.59 and a 1-year high of $113.12.

Altair Engineering (NASDAQ:ALTR) last issued its earnings results on Thursday, August 1st. The software reported $0.16 earnings per share for the quarter, beating the consensus estimate of $0.15 by $0.01. Altair Engineering had a net margin of 4.26% and a return on equity of 6.89%. The firm had revenue of $148.80 million for the quarter, compared to analysts’ expectations of $146.88 million. During the same quarter last year, the company earned ($0.15) earnings per share. The firm’s revenue was up 5.4% compared to the same quarter last year. Analysts forecast that Altair Engineering will post 0.65 EPS for the current fiscal year.

Insider Buying and Selling

In other Altair Engineering news, CEO James Ralph Scapa sold 13,000 shares of the business’s stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $102.59, for a total value of $1,333,670.00. Following the completion of the sale, the chief executive officer now owns 134,045 shares in the company, valued at approximately $13,751,676.55. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Altair Engineering news, CEO James Ralph Scapa sold 13,000 shares of Altair Engineering stock in a transaction on Monday, October 28th. The shares were sold at an average price of $102.59, for a total value of $1,333,670.00. Following the transaction, the chief executive officer now directly owns 134,045 shares in the company, valued at approximately $13,751,676.55. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, major shareholder Jrs Investments Llc sold 6,500 shares of the stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $102.59, for a total transaction of $666,835.00. The disclosure for this sale can be found here. Insiders have sold 360,360 shares of company stock worth $35,476,660 in the last quarter. 21.75% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Blue Trust Inc. grew its position in Altair Engineering by 572.1% in the 3rd quarter. Blue Trust Inc. now owns 289 shares of the software’s stock valued at $28,000 after buying an additional 246 shares during the last quarter. GAMMA Investing LLC lifted its stake in shares of Altair Engineering by 81.7% in the 2nd quarter. GAMMA Investing LLC now owns 418 shares of the software’s stock worth $41,000 after acquiring an additional 188 shares during the period. FSC Wealth Advisors LLC boosted its holdings in shares of Altair Engineering by 41.3% in the second quarter. FSC Wealth Advisors LLC now owns 832 shares of the software’s stock valued at $82,000 after acquiring an additional 243 shares in the last quarter. Van ECK Associates Corp increased its stake in shares of Altair Engineering by 41.7% during the second quarter. Van ECK Associates Corp now owns 1,057 shares of the software’s stock worth $104,000 after acquiring an additional 311 shares during the period. Finally, SG Americas Securities LLC purchased a new position in Altair Engineering during the first quarter worth about $177,000. Institutional investors and hedge funds own 63.38% of the company’s stock.

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.