Altair Engineering’s (ALTR) “Hold” Rating Reaffirmed at Loop Capital

Loop Capital reaffirmed their hold rating on shares of Altair Engineering (NASDAQ:ALTR) in a research note issued to investors on Thursday, MarketBeat reports. The firm currently has a $113.00 target price on the software’s stock.

A number of other brokerages have also issued reports on ALTR. The Goldman Sachs Group lowered shares of Altair Engineering from a “neutral” rating to a “sell” rating and decreased their target price for the company from $85.00 to $71.00 in a research report on Friday, August 2nd. Royal Bank of Canada reiterated a “sector perform” rating and set a $90.00 price objective on shares of Altair Engineering in a research note on Wednesday, October 23rd. Rosenblatt Securities upped their target price on Altair Engineering from $88.00 to $113.00 and gave the stock a “neutral” rating in a research report on Thursday. Needham & Company LLC reiterated a “buy” rating and set a $100.00 price target on shares of Altair Engineering in a research report on Friday, August 2nd. Finally, JPMorgan Chase & Co. lowered Altair Engineering from an “overweight” rating to a “neutral” rating and set a $95.00 price objective for the company. in a report on Monday, July 15th. One analyst has rated the stock with a sell rating, six have issued a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $100.71.

Altair Engineering Stock Performance

ALTR opened at $104.00 on Thursday. Altair Engineering has a twelve month low of $57.59 and a twelve month high of $113.12. The stock has a market cap of $8.83 billion, a PE ratio of 273.68, a price-to-earnings-growth ratio of 13.87 and a beta of 1.45. The business’s 50 day moving average is $94.30 and its 200-day moving average is $91.54. The company has a current ratio of 3.14, a quick ratio of 3.14 and a debt-to-equity ratio of 0.29.

Altair Engineering (NASDAQ:ALTR) last announced its quarterly earnings results on Thursday, August 1st. The software reported $0.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.15 by $0.01. The company had revenue of $148.80 million during the quarter, compared to analyst estimates of $146.88 million. Altair Engineering had a return on equity of 7.70% and a net margin of 5.10%. The firm’s quarterly revenue was up 5.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.15) EPS. On average, analysts predict that Altair Engineering will post 0.65 earnings per share for the current year.

Insider Transactions at Altair Engineering

In other news, major shareholder Christ Revocable Trust sold 100,000 shares of the business’s stock in a transaction on Wednesday, October 23rd. The stock was sold at an average price of $106.57, for a total transaction of $10,657,000.00. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, Director Teresa A. Harris sold 620 shares of the firm’s stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $82.57, for a total value of $51,193.40. Following the completion of the transaction, the director now owns 21,242 shares of the company’s stock, valued at approximately $1,753,951.94. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, major shareholder Christ Revocable Trust sold 100,000 shares of the business’s stock in a transaction on Wednesday, October 23rd. The shares were sold at an average price of $106.57, for a total transaction of $10,657,000.00. The disclosure for this sale can be found here. Insiders sold a total of 360,360 shares of company stock valued at $35,476,660 in the last three months. 21.75% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

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