Altair Engineering’s (ALTR) “Neutral” Rating Reiterated at Rosenblatt Securities

Altair Engineering (NASDAQ:ALTR)‘s stock had its “neutral” rating reaffirmed by analysts at Rosenblatt Securities in a research report issued on Monday,Benzinga reports. They currently have a $113.00 target price on the software’s stock. Rosenblatt Securities’ price target indicates a potential upside of 1.09% from the company’s current price.

Several other equities analysts have also weighed in on ALTR. Royal Bank of Canada increased their price objective on shares of Altair Engineering from $90.00 to $113.00 and gave the company a “sector perform” rating in a research report on Thursday, October 31st. William Blair reissued a “market perform” rating on shares of Altair Engineering in a report on Thursday, October 31st. Needham & Company LLC restated a “hold” rating on shares of Altair Engineering in a research report on Friday. Loop Capital reaffirmed a “hold” rating and issued a $113.00 target price on shares of Altair Engineering in a research report on Thursday, October 31st. Finally, Wolfe Research cut Altair Engineering from a “strong-buy” rating to a “hold” rating in a report on Sunday, November 3rd. One analyst has rated the stock with a sell rating and seven have issued a hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $100.83.

Altair Engineering Stock Performance

Altair Engineering stock opened at $111.78 on Monday. The stock has a 50-day simple moving average of $109.90 and a 200 day simple moving average of $101.65. The stock has a market capitalization of $9.51 billion, a P/E ratio of 657.53, a PEG ratio of 10.75 and a beta of 1.42. The company has a debt-to-equity ratio of 0.27, a quick ratio of 3.27 and a current ratio of 3.27. Altair Engineering has a 52 week low of $75.71 and a 52 week high of $113.12.

Altair Engineering (NASDAQ:ALTR) last issued its earnings results on Thursday, February 20th. The software reported $0.36 EPS for the quarter, missing the consensus estimate of $0.51 by ($0.15). The business had revenue of $192.63 million for the quarter, compared to the consensus estimate of $182.98 million. Altair Engineering had a return on equity of 8.23% and a net margin of 2.13%. Analysts expect that Altair Engineering will post 0.87 earnings per share for the current year.

Insider Transactions at Altair Engineering

In other Altair Engineering news, CEO James Ralph Scapa sold 16,095 shares of the firm’s stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $105.65, for a total transaction of $1,700,436.75. Following the transaction, the chief executive officer now owns 117,950 shares in the company, valued at $12,461,417.50. This trade represents a 12.01 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Jrs Investments Llc sold 6,500 shares of the stock in a transaction on Friday, November 29th. The stock was sold at an average price of $105.69, for a total value of $686,985.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 59,143 shares of company stock valued at $6,265,694. 21.75% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Altair Engineering

Several hedge funds and other institutional investors have recently made changes to their positions in ALTR. Magnetar Financial LLC acquired a new stake in Altair Engineering in the fourth quarter valued at approximately $62,142,000. Norges Bank bought a new position in shares of Altair Engineering in the 4th quarter valued at $37,899,000. Schonfeld Strategic Advisors LLC boosted its holdings in shares of Altair Engineering by 13,097.8% during the 4th quarter. Schonfeld Strategic Advisors LLC now owns 331,528 shares of the software’s stock valued at $36,173,000 after acquiring an additional 329,016 shares in the last quarter. Vanguard Group Inc. boosted its holdings in shares of Altair Engineering by 4.8% during the 4th quarter. Vanguard Group Inc. now owns 6,894,230 shares of the software’s stock valued at $752,229,000 after acquiring an additional 317,575 shares in the last quarter. Finally, Woodline Partners LP bought a new stake in Altair Engineering during the 4th quarter worth $32,733,000. 63.38% of the stock is owned by institutional investors.

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.