Altair Engineering Inc. (NASDAQ:ALTR) Receives $100.83 Average Price Target from Brokerages

Shares of Altair Engineering Inc. (NASDAQ:ALTR) have been assigned a consensus recommendation of “Reduce” from the eight research firms that are covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating and seven have given a hold rating to the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $100.83.

Several research firms have recently weighed in on ALTR. Rosenblatt Securities reissued a “neutral” rating and set a $113.00 price objective on shares of Altair Engineering in a report on Monday, February 24th. Needham & Company LLC reaffirmed a “hold” rating on shares of Altair Engineering in a report on Friday, February 21st.

Altair Engineering Stock Down 0.1 %

ALTR opened at $111.54 on Tuesday. The firm has a 50 day moving average price of $110.88 and a 200-day moving average price of $104.35. Altair Engineering has a twelve month low of $75.71 and a twelve month high of $113.12. The stock has a market capitalization of $9.57 billion, a price-to-earnings ratio of 656.12, a PEG ratio of 10.75 and a beta of 1.45.

Altair Engineering (NASDAQ:ALTR) last released its quarterly earnings data on Thursday, February 20th. The software reported $0.36 earnings per share for the quarter, missing the consensus estimate of $0.51 by ($0.15). Altair Engineering had a net margin of 2.13% and a return on equity of 8.08%. The company had revenue of $192.63 million for the quarter, compared to analysts’ expectations of $182.98 million. As a group, analysts expect that Altair Engineering will post 0.87 earnings per share for the current year.

Insider Buying and Selling at Altair Engineering

In other news, CFO Matthew Charles Brown sold 1,048 shares of the stock in a transaction on Monday, December 23rd. The shares were sold at an average price of $108.90, for a total value of $114,127.20. Following the sale, the chief financial officer now owns 55,519 shares of the company’s stock, valued at approximately $6,046,019.10. This represents a 1.85 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Teresa A. Harris sold 2,700 shares of the stock in a transaction on Tuesday, February 25th. The shares were sold at an average price of $111.61, for a total transaction of $301,347.00. Following the completion of the sale, the director now directly owns 18,542 shares in the company, valued at approximately $2,069,472.62. This represents a 12.71 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 13,220 shares of company stock worth $1,470,974 over the last 90 days. 21.75% of the stock is owned by insiders.

Institutional Investors Weigh In On Altair Engineering

Several hedge funds and other institutional investors have recently made changes to their positions in ALTR. NBT Bank N A NY increased its stake in Altair Engineering by 76.4% in the 4th quarter. NBT Bank N A NY now owns 247 shares of the software’s stock worth $27,000 after buying an additional 107 shares during the period. UMB Bank n.a. increased its stake in Altair Engineering by 77.0% in the 4th quarter. UMB Bank n.a. now owns 285 shares of the software’s stock worth $31,000 after buying an additional 124 shares during the period. Johnson Financial Group Inc. purchased a new position in Altair Engineering in the 4th quarter worth about $37,000. GAMMA Investing LLC increased its stake in Altair Engineering by 14.6% in the 4th quarter. GAMMA Investing LLC now owns 729 shares of the software’s stock worth $80,000 after buying an additional 93 shares during the period. Finally, Blue Trust Inc. increased its stake in Altair Engineering by 185.5% in the 4th quarter. Blue Trust Inc. now owns 825 shares of the software’s stock worth $90,000 after buying an additional 536 shares during the period. 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.