Altair Engineering (NASDAQ:ALTR) Given “Buy” Rating at Needham & Company LLC

Needham & Company LLC reiterated their buy rating on shares of Altair Engineering (NASDAQ:ALTR) in a report issued on Monday, Benzinga reports. They currently have a $100.00 price target on the software’s stock.

A number of other brokerages have also recently issued reports on ALTR. Rosenblatt Securities reiterated a neutral rating and set a $88.00 target price (up previously from $74.00) on shares of Altair Engineering in a report on Friday, February 23rd. Royal Bank of Canada reiterated a sector perform rating and set a $90.00 target price on shares of Altair Engineering in a report on Thursday, March 21st. JPMorgan Chase & Co. began coverage on Altair Engineering in a report on Friday, December 22nd. They set an overweight rating and a $86.00 target price for the company. Finally, Oppenheimer boosted their target price on Altair Engineering from $95.00 to $100.00 and gave the stock an outperform rating in a report on Friday, February 23rd. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of Moderate Buy and a consensus price target of $88.71.

Altair Engineering Stock Up 1.3 %

ALTR opened at $86.27 on Monday. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.16 and a quick ratio of 2.16. The stock has a market capitalization of $7.12 billion, a price-to-earnings ratio of -663.62, a price-to-earnings-growth ratio of 11.78 and a beta of 1.43. The business has a 50-day moving average of $85.79 and a two-hundred day moving average of $75.82. Altair Engineering has a 12 month low of $57.59 and a 12 month high of $92.92.

Altair Engineering (NASDAQ:ALTR) last posted its quarterly earnings results on Thursday, February 22nd. The software reported $0.29 EPS for the quarter, beating the consensus estimate 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 company had revenue of $171.50 million during the quarter, compared to analysts’ expectations of $172.48 million. On average, research analysts expect that Altair Engineering will post 0.6 earnings per share for the current year.

Insiders Place Their Bets

In other Altair Engineering news, major shareholder George J. Christ sold 12,760 shares of the company’s stock in a transaction that occurred on Friday, March 22nd. The stock was sold at an average price of $86.71, for a total value of $1,106,419.60. Following the completion of the transaction, the insider now owns 287,240 shares in the company, valued at approximately $24,906,580.40. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Altair Engineering news, major shareholder George J. Christ sold 12,760 shares of the company’s stock in a transaction that occurred on Friday, March 22nd. The stock was sold at an average price of $86.71, for a total value of $1,106,419.60. Following the transaction, the insider now directly owns 287,240 shares of the company’s stock, valued at approximately $24,906,580.40. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, major shareholder Jrs Investments Llc sold 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, January 16th. The shares were sold at an average price of $83.73, for a total value of $418,650.00. The disclosure for this sale can be found here. Insiders sold a total of 176,187 shares of company stock worth $15,215,227 in the last 90 days. 22.17% of the stock is owned by company insiders.

Institutional Investors Weigh In On Altair Engineering

Several institutional investors and hedge funds have recently made changes to their positions in ALTR. McGlone Suttner Wealth Management Inc. acquired a new stake in shares of Altair Engineering during the 4th quarter valued at approximately $31,000. EdgeRock Capital LLC acquired a new stake in shares of Altair Engineering during the 4th quarter valued at approximately $33,000. UBS Group AG raised its position in shares of Altair Engineering by 48.7% during the 4th quarter. UBS Group AG now owns 938 shares of the software’s stock valued at $43,000 after acquiring an additional 307 shares in the last quarter. Harvest Fund Management Co. Ltd raised its position in shares of Altair Engineering by 1,157.7% during the 4th quarter. Harvest Fund Management Co. Ltd now owns 981 shares of the software’s stock valued at $83,000 after acquiring an additional 903 shares in the last quarter. Finally, Tower Research Capital LLC TRC raised its position in shares of Altair Engineering by 17.2% during the 3rd quarter. Tower Research Capital LLC TRC now owns 1,481 shares of the software’s stock valued at $93,000 after acquiring an additional 217 shares in the last quarter. 63.38% of the stock is owned by institutional investors and hedge funds.

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.