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

Altair Engineering Inc. (NASDAQ:ALTR) has received a consensus rating of “Moderate Buy” from the six brokerages that are currently covering the stock, MarketBeat.com reports. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $90.00.

ALTR has been the subject of several analyst reports. JPMorgan Chase & Co. upped their target price on Altair Engineering from $86.00 to $95.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 26th. Rosenblatt Securities reaffirmed a “neutral” rating and issued a $88.00 target price on shares of Altair Engineering in a research report on Monday. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $90.00 target price on shares of Altair Engineering in a research report on Thursday, March 21st. Needham & Company LLC reiterated a “buy” rating and issued a $100.00 price target on shares of Altair Engineering in a research note on Monday, March 25th. Finally, Oppenheimer boosted their price target on Altair Engineering from $95.00 to $100.00 and gave the stock an “outperform” rating in a research note on Friday, February 23rd.

Insider Buying and Selling at Altair Engineering

In other Altair Engineering news, CRO Nelson Dias sold 375 shares of the company’s stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $83.65, for a total transaction of $31,368.75. Following the sale, the executive now owns 33,838 shares in the company, valued at $2,830,548.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, major shareholder Jrs Investments Llc sold 5,000 shares of the stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $91.07, for a total transaction of $455,350.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CRO Nelson Dias sold 375 shares of the stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $83.65, for a total value of $31,368.75. Following the sale, the executive now owns 33,838 shares in the company, valued at $2,830,548.70. The disclosure for this sale can be found here. Insiders have sold 161,830 shares of company stock worth $13,876,320 over the last quarter. 21.75% of the stock is owned by corporate insiders.

Institutional Trading of Altair Engineering

A number of institutional investors and hedge funds have recently made changes to their positions in ALTR. Matrix Capital Management Company LP grew its holdings in Altair Engineering by 8.3% in the 4th quarter. Matrix Capital Management Company LP now owns 12,233,174 shares of the software’s stock worth $1,029,422,000 after buying an additional 932,717 shares in the last quarter. Vanguard Group Inc. grew its holdings in Altair Engineering by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 5,761,445 shares of the software’s stock worth $484,826,000 after buying an additional 33,503 shares in the last quarter. Conestoga Capital Advisors LLC grew its holdings in Altair Engineering by 0.6% in the 1st quarter. Conestoga Capital Advisors LLC now owns 2,440,081 shares of the software’s stock worth $210,213,000 after buying an additional 15,370 shares in the last quarter. Impax Asset Management Group plc grew its holdings in Altair Engineering by 6.9% in the 3rd quarter. Impax Asset Management Group plc now owns 2,130,550 shares of the software’s stock worth $132,570,000 after buying an additional 137,933 shares in the last quarter. Finally, Wellington Management Group LLP grew its holdings in Altair Engineering by 97.3% in the 4th quarter. Wellington Management Group LLP now owns 1,182,339 shares of the software’s stock worth $99,494,000 after buying an additional 583,127 shares in the last quarter. 63.38% of the stock is currently owned by institutional investors and hedge funds.

Altair Engineering Price Performance

ALTR stock opened at $82.46 on Thursday. The stock has a 50-day moving average price of $83.71 and a two-hundred day moving average price of $79.02. Altair Engineering has a 12-month low of $57.59 and a 12-month 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. The company has a market cap of $6.80 billion, a PE ratio of -634.31, a price-to-earnings-growth ratio of 11.14 and a beta of 1.42.

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

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.