Brokerages Set Altair Engineering Inc. (NASDAQ:ALTR) Target Price at $100.83

Altair Engineering Inc. (NASDAQ:ALTR) has received an average rating of “Reduce” from the eight brokerages that are covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation and seven have assigned a hold recommendation to the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $100.83.

A number of brokerages recently commented on ALTR. Rosenblatt Securities restated a “neutral” rating and set a $113.00 price target on shares of Altair Engineering in a research note on Monday, February 24th. Needham & Company LLC restated a “hold” rating on shares of Altair Engineering in a report on Friday, February 21st.

Insider Activity at Altair Engineering

In other Altair Engineering news, CMO Amy Messano sold 416 shares of the business’s stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $111.30, for a total transaction of $46,300.80. Following the completion of the sale, the chief marketing officer now owns 22,980 shares of the company’s stock, valued at approximately $2,557,674. The trade was a 1.78 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Teresa A. Harris sold 2,700 shares of the stock in a transaction on Tuesday, February 25th. The stock was 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 of the company’s stock, valued at approximately $2,069,472.62. This trade represents a 12.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 12,172 shares of company stock valued at $1,356,847 in the last three months. Company insiders own 21.75% of the company’s stock.

Institutional Investors Weigh In On Altair Engineering

A number of institutional investors have recently added to or reduced their stakes in the stock. NBT Bank N A NY raised its position in shares of Altair Engineering by 76.4% during the 4th quarter. NBT Bank N A NY now owns 247 shares of the software’s stock valued at $27,000 after buying an additional 107 shares in the last quarter. UMB Bank n.a. boosted its position in Altair Engineering by 77.0% during the 4th quarter. UMB Bank n.a. now owns 285 shares of the software’s stock valued at $31,000 after acquiring an additional 124 shares in the last quarter. Johnson Financial Group Inc. purchased a new position in shares of Altair Engineering in the 4th quarter worth approximately $37,000. GAMMA Investing LLC grew its stake in Altair Engineering by 14.6% during 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 last quarter. Finally, Blue Trust Inc. increased its stake in Altair Engineering by 185.5% during the 4th quarter. Blue Trust Inc. now owns 825 shares of the software’s stock valued at $90,000 after purchasing an additional 536 shares in the last quarter. 63.38% of the stock is owned by hedge funds and other institutional investors.

Altair Engineering Price Performance

Shares of NASDAQ:ALTR opened at $111.85 on Friday. The firm has a market capitalization of $9.60 billion, a price-to-earnings ratio of 657.94, a PEG ratio of 10.75 and a beta of 1.45. Altair Engineering has a twelve month low of $75.71 and a twelve month high of $113.12. The stock’s 50 day moving average is $111.46 and its 200-day moving average is $107.35.

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

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.