Altair Engineering Inc. (NASDAQ:ALTR) Given Consensus Recommendation of “Reduce” by Analysts

Shares of Altair Engineering Inc. (NASDAQ:ALTR) have earned an average rating of “Reduce” from the eight ratings firms that are currently covering the stock, MarketBeat reports. One investment analyst has rated the stock with a sell rating and seven have issued a hold rating on the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $100.83.

Several equities research analysts have recently issued reports on ALTR shares. William Blair reaffirmed a “market perform” rating on shares of Altair Engineering in a report on Thursday, October 31st. Loop Capital restated a “hold” rating and set a $113.00 target price on shares of Altair Engineering in a research report on Thursday, October 31st. Royal Bank of Canada boosted their target price on Altair Engineering from $90.00 to $113.00 and gave the company a “sector perform” rating in a research report on Thursday, October 31st. Needham & Company LLC reiterated a “hold” rating on shares of Altair Engineering in a report on Friday, February 21st. Finally, Rosenblatt Securities reissued a “neutral” rating and issued a $113.00 price objective on shares of Altair Engineering in a research note on Monday.

Altair Engineering Price Performance

Shares of ALTR opened at $111.64 on Friday. Altair Engineering has a 1 year low of $75.71 and a 1 year high of $113.12. The firm has a market cap of $9.50 billion, a PE ratio of 656.71, a PEG ratio of 10.75 and a beta of 1.42. The stock’s fifty day moving average price is $110.09 and its two-hundred day moving average price is $101.96.

Altair Engineering (NASDAQ:ALTR) last posted its quarterly earnings data on Thursday, February 20th. The software reported $0.36 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.15). The firm had revenue of $192.63 million during the quarter, compared to analysts’ expectations of $182.98 million. Altair Engineering had a return on equity of 8.08% and a net margin of 2.13%. Sell-side analysts anticipate that Altair Engineering will post 0.87 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CEO James Ralph Scapa sold 13,000 shares of the company’s stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $105.69, for a total value of $1,373,970.00. Following the completion of the sale, the chief executive officer now directly owns 134,045 shares of the company’s stock, valued at approximately $14,167,216.05. This represents a 8.84 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Matthew Charles Brown sold 1,048 shares of the stock in a transaction dated Monday, December 23rd. The stock was sold at an average price of $108.90, for a total transaction of $114,127.20. Following the transaction, the chief financial officer now directly owns 55,519 shares of the company’s stock, valued at $6,046,019.10. This represents a 1.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 59,143 shares of company stock worth $6,265,694 over the last 90 days. Corporate insiders own 21.75% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Creative Planning grew its position in shares of Altair Engineering by 5.9% in the third quarter. Creative Planning now owns 11,279 shares of the software’s stock valued at $1,077,000 after purchasing an additional 631 shares during the last quarter. Blue Trust Inc. boosted its position in Altair Engineering by 572.1% during the third quarter. Blue Trust Inc. now owns 289 shares of the software’s stock worth $28,000 after acquiring an additional 246 shares during the last quarter. Private Advisor Group LLC acquired a new stake in Altair Engineering during the third quarter worth approximately $208,000. Moody Aldrich Partners LLC boosted its position in Altair Engineering by 15.2% during the third quarter. Moody Aldrich Partners LLC now owns 75,233 shares of the software’s stock worth $7,186,000 after acquiring an additional 9,907 shares during the last quarter. Finally, Ballentine Partners LLC raised its stake in Altair Engineering by 8.5% during the third quarter. Ballentine Partners LLC now owns 2,236 shares of the software’s stock worth $214,000 after purchasing an additional 175 shares during the period. 63.38% of the stock is currently 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.