Rosenblatt Securities Reiterates Neutral Rating for Altair Engineering (NASDAQ:ALTR)

Altair Engineering (NASDAQ:ALTR)‘s stock had its “neutral” rating reiterated by equities researchers at Rosenblatt Securities in a research note issued on Monday, Benzinga reports. They currently have a $88.00 target price on the software’s stock. Rosenblatt Securities’ price objective points to a potential upside of 9.38% from the stock’s previous close.

A number of other equities analysts also recently issued reports on the company. Oppenheimer increased their price objective on Altair Engineering from $95.00 to $100.00 and gave the stock an “outperform” rating in a report on Friday, February 23rd. Royal Bank of Canada reiterated a “sector perform” rating and set a $90.00 price objective on shares of Altair Engineering in a research report on Thursday, March 21st. Needham & Company LLC restated a “buy” rating and set a $100.00 price target on shares of Altair Engineering in a research note on Monday, March 25th. Finally, JPMorgan Chase & Co. raised their price objective on shares of Altair Engineering from $86.00 to $95.00 and gave the stock an “overweight” rating in a report on Tuesday, March 26th. Three analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $90.00.

Altair Engineering Stock Performance

Altair Engineering stock opened at $80.45 on Monday. The firm has a fifty day simple moving average of $83.71 and a two-hundred day simple moving average of $79.02. Altair Engineering has a twelve month low of $57.59 and a twelve month high of $92.92. The company has a market capitalization of $6.64 billion, a PE ratio of -618.85, a P/E/G ratio of 11.14 and a beta of 1.42. The company has a quick ratio of 2.16, a current ratio of 2.16 and a debt-to-equity ratio of 0.32.

Altair Engineering (NASDAQ:ALTR) last posted its quarterly earnings results on Thursday, February 22nd. The software reported $0.29 EPS for the quarter, beating analysts’ consensus estimates of $0.22 by $0.07. The company had revenue of $171.50 million during the quarter, compared to analyst estimates of $172.48 million. Altair Engineering had a negative net margin of 1.46% and a positive return on equity of 3.77%. Research analysts expect that Altair Engineering will post 0.63 EPS for the current year.

Insider Transactions at Altair Engineering

In other news, CRO Nelson Dias sold 375 shares of the business’s stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $83.65, for a total value of $31,368.75. Following the transaction, the executive now directly owns 33,838 shares in the company, valued at $2,830,548.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director Teresa A. Harris sold 620 shares of the business’s stock in a transaction dated Tuesday, April 2nd. The stock was sold at an average price of $84.00, for a total value of $52,080.00. Following the sale, the director now directly owns 18,895 shares in the company, valued at $1,587,180. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CRO Nelson Dias sold 375 shares of the stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $83.65, for a total value of $31,368.75. Following the transaction, the executive now owns 33,838 shares of the company’s stock, valued at $2,830,548.70. The disclosure for this sale can be found here. Insiders sold a total of 161,830 shares of company stock valued at $13,876,320 over the last three months. Corporate insiders own 21.75% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Teachers Retirement System of The State of Kentucky bought a new stake in shares of Altair Engineering in the 3rd quarter valued at approximately $1,049,000. Comerica Bank bought a new position in Altair Engineering during the 3rd quarter valued at about $11,051,000. Lazard Asset Management LLC lifted its stake in Altair Engineering by 168,148.1% in the third quarter. Lazard Asset Management LLC now owns 45,427 shares of the software’s stock worth $2,841,000 after purchasing an additional 45,400 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Altair Engineering by 4.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 415,538 shares of the software’s stock worth $25,996,000 after buying an additional 16,075 shares during the period. Finally, Ameriprise Financial Inc. boosted its holdings in Altair Engineering by 22.8% during the 3rd quarter. Ameriprise Financial Inc. now owns 951,698 shares of the software’s stock valued at $59,538,000 after acquiring an additional 176,780 shares during the period. Institutional investors own 63.38% of the company’s stock.

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.