Altair Engineering (ALTR) Set to Announce Earnings on Thursday

Altair Engineering (NASDAQ:ALTR) is scheduled to issue its quarterly earnings data after the market closes on Thursday, May 2nd. Analysts expect Altair Engineering to post earnings of $0.35 per share for the quarter. Altair Engineering has set its Q1 2024 guidance at EPS and its FY 2024 guidance at EPS.Persons that are interested in registering for the company’s earnings conference call can do so using this link.

Altair Engineering (NASDAQ:ALTR) last announced its earnings results on Thursday, February 22nd. The software reported $0.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.22 by $0.07. The company had revenue of $171.50 million for the quarter, compared to analyst estimates 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, analysts expect Altair Engineering to post $1 EPS for the current fiscal year and $1 EPS for the next fiscal year.

Altair Engineering Stock Up 0.2 %

Shares of ALTR stock traded up $0.18 on Tuesday, reaching $82.64. 12,956 shares of the stock were exchanged, compared to its average volume of 406,125. The stock has a 50 day moving average price of $83.71 and a 200 day moving average price of $79.02. Altair Engineering has a one year low of $57.59 and a one year high of $92.92. The company has a current ratio of 2.16, a quick ratio of 2.16 and a debt-to-equity ratio of 0.32.

Insiders Place Their Bets

In other news, major shareholder Christ Revocable Trust sold 3,904 shares of Altair Engineering 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 transaction, the insider now owns 283,336 shares in the company, valued at approximately $24,202,561.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, major shareholder George J. Christ sold 12,760 shares of the company’s stock in a transaction dated Friday, March 22nd. The stock was sold at an average price of $86.71, for a total transaction of $1,106,419.60. Following the completion of the transaction, the insider now directly owns 287,240 shares of the company’s stock, valued at $24,906,580.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Christ Revocable Trust sold 3,904 shares of the firm’s stock in a transaction that occurred on Tuesday, March 26th. The stock was sold at an average price of $85.42, for a total transaction of $333,479.68. Following the transaction, the insider now directly owns 283,336 shares of the company’s stock, valued at $24,202,561.12. The disclosure for this sale can be found here. Insiders sold 161,830 shares of company stock worth $13,876,320 over the last ninety days. 21.75% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on ALTR shares. JPMorgan Chase & Co. lifted their price target on shares of Altair Engineering from $86.00 to $95.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 26th. Royal Bank of Canada restated a “sector perform” rating and issued a $90.00 price target on shares of Altair Engineering in a research report on Thursday, March 21st. Oppenheimer upped their price objective on Altair Engineering from $95.00 to $100.00 and gave the company an “outperform” rating in a report on Friday, February 23rd. Needham & Company LLC restated a “buy” rating and set a $100.00 target price on shares of Altair Engineering in a report on Monday, March 25th. Finally, Rosenblatt Securities reaffirmed a “neutral” rating and issued a $88.00 price target on shares of Altair Engineering in a research note on Monday. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $90.00.

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.