Equities research analysts at Guggenheim began coverage on shares of Altair Engineering (NASDAQ:ALTR) in a note issued to investors on Tuesday, The Fly reports. The firm set a “neutral” rating on the software’s stock.
Several other analysts have also recently issued reports on ALTR. Zacks Investment Research cut shares of Altair Engineering from a “buy” rating to a “hold” rating in a research report on Monday, December 17th. Needham & Company LLC increased their price objective on shares of Altair Engineering from $40.00 to $42.00 and gave the stock a “buy” rating in a research report on Thursday, March 14th. Finally, ValuEngine raised shares of Altair Engineering from a “hold” rating to a “buy” rating in a research report on Saturday, December 1st. Five equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $38.57.
Shares of NASDAQ ALTR traded down $0.56 during mid-day trading on Tuesday, hitting $37.70. 235,922 shares of the company’s stock traded hands, compared to its average volume of 226,017. The company has a current ratio of 1.21, a quick ratio of 1.19 and a debt-to-equity ratio of 0.11. The stock has a market capitalization of $2.70 billion, a price-to-earnings ratio of 101.89 and a beta of 1.63. Altair Engineering has a 1 year low of $25.28 and a 1 year high of $43.99.
Several large investors have recently modified their holdings of the company. Alliancebernstein L.P. boosted its stake in shares of Altair Engineering by 870.0% during the third quarter. Alliancebernstein L.P. now owns 1,457,602 shares of the software’s stock valued at $63,333,000 after purchasing an additional 1,307,332 shares in the last quarter. Polar Capital LLP bought a new position in shares of Altair Engineering during the fourth quarter valued at approximately $20,295,000. BlackRock Inc. boosted its stake in shares of Altair Engineering by 15.3% during the third quarter. BlackRock Inc. now owns 2,536,341 shares of the software’s stock valued at $110,204,000 after purchasing an additional 337,323 shares in the last quarter. Marshall Wace LLP boosted its stake in shares of Altair Engineering by 1,381.5% during the third quarter. Marshall Wace LLP now owns 306,531 shares of the software’s stock valued at $13,319,000 after purchasing an additional 285,840 shares in the last quarter. Finally, Vanguard Group Inc boosted its stake in shares of Altair Engineering by 11.4% during the third quarter. Vanguard Group Inc now owns 2,733,081 shares of the software’s stock valued at $118,752,000 after purchasing an additional 280,056 shares in the last quarter. 37.98% of the stock is currently owned by institutional investors and hedge funds.
About Altair Engineering
Altair Engineering Inc, together with its subsidiaries, provides software and cloud solutions worldwide. The company operates through two segments, Software and Client Engineering Services. Its integrated suite of multi-disciplinary computer aided engineering software optimizes design performance across various disciplines, including structures, motion, fluids, thermal management, electromagnetics, system modeling and embedded systems.
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