Altair Engineering Inc. (NASDAQ:ALTR) Receives $74.86 Average Price Target from Brokerages

Shares of Altair Engineering Inc. (NASDAQ:ALTRGet Free Report) have been assigned a consensus recommendation of “Moderate Buy” from the seven research firms that are covering the stock, Marketbeat Ratings reports. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $74.86.

Separately, JPMorgan Chase & Co. began coverage on Altair Engineering in a research note on Friday, December 22nd. They set an “overweight” rating and a $86.00 price target on the stock.

View Our Latest Analysis on Altair Engineering

Altair Engineering Trading Down 2.4 %

Shares of ALTR opened at $90.02 on Friday. Altair Engineering has a 12-month low of $53.92 and a 12-month high of $92.92. The company has a quick ratio of 1.99, a current ratio of 1.99 and a debt-to-equity ratio of 0.36. The firm has a market capitalization of $7.35 billion, a price-to-earnings ratio of -428.65, a P/E/G ratio of 27.79 and a beta of 1.45. The stock’s 50-day moving average price is $81.84 and its 200 day moving average price is $71.48.

Insider Buying and Selling

In related news, Director Teresa A. Harris sold 600 shares of the stock in a transaction that occurred on Wednesday, December 6th. The stock was sold at an average price of $71.65, for a total transaction of $42,990.00. Following the sale, the director now directly owns 18,895 shares in the company, valued at approximately $1,353,826.75. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other Altair Engineering news, Director Teresa A. Harris sold 600 shares of the stock in a transaction on Wednesday, December 6th. The stock was sold at an average price of $71.65, for a total value of $42,990.00. Following the transaction, the director now directly owns 18,895 shares in the company, valued at approximately $1,353,826.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder George J. Christ sold 100,000 shares of the stock in a transaction on Tuesday, January 23rd. The shares were sold at an average price of $87.32, for a total value of $8,732,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 320,895 shares of company stock worth $25,107,048 in the last three months. Insiders own 22.17% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in ALTR. MetLife Investment Management LLC lifted its stake in shares of Altair Engineering by 54.5% in the 1st quarter. MetLife Investment Management LLC now owns 24,032 shares of the software’s stock valued at $1,548,000 after purchasing an additional 8,474 shares during the period. Rhumbline Advisers raised its stake in Altair Engineering by 1.5% during the 1st quarter. Rhumbline Advisers now owns 47,705 shares of the software’s stock worth $3,072,000 after buying an additional 704 shares during the period. BlackRock Inc. raised its stake in Altair Engineering by 7.5% during the 1st quarter. BlackRock Inc. now owns 4,879,144 shares of the software’s stock worth $314,217,000 after buying an additional 339,610 shares during the period. Dimensional Fund Advisors LP raised its stake in Altair Engineering by 3.0% during the 1st quarter. Dimensional Fund Advisors LP now owns 353,243 shares of the software’s stock worth $22,750,000 after buying an additional 10,216 shares during the period. Finally, Vanguard Group Inc. raised its stake in Altair Engineering by 0.4% during the 1st quarter. Vanguard Group Inc. now owns 4,645,906 shares of the software’s stock worth $299,196,000 after buying an additional 18,157 shares during the period. Institutional investors and hedge funds own 63.38% of the company’s stock.

Altair Engineering Company Profile

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Altair Engineering Inc, together with its subsidiaries, provides software and cloud solutions in the areas of simulation, high-performance computing, data analytics, and artificial intelligence in the United States and internationally. The company operates in two segments: Software and Client Engineering Services.

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Analyst Recommendations for Altair Engineering (NASDAQ:ALTR)

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