Altair Engineering (NASDAQ:ALTR) Announces Earnings Results

Altair Engineering (NASDAQ:ALTR) posted its earnings results on Thursday. The software reported $0.36 EPS for the quarter, missing the consensus estimate of $0.51 by ($0.15), Zacks reports. Altair Engineering had a net margin of 5.10% and a return on equity of 7.49%.

Altair Engineering Price Performance

NASDAQ ALTR traded up $0.53 on Thursday, hitting $111.78. 886,505 shares of the company’s stock were exchanged, compared to its average volume of 790,869. The stock has a 50-day moving average of $109.68 and a 200-day moving average of $101.12. The company has a current ratio of 3.27, a quick ratio of 3.27 and a debt-to-equity ratio of 0.27. Altair Engineering has a 52 week low of $75.71 and a 52 week high of $113.12. The stock has a market cap of $9.51 billion, a price-to-earnings ratio of 294.17, a P/E/G ratio of 10.69 and a beta of 1.42.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the company. Rosenblatt Securities upped their target price on Altair Engineering from $88.00 to $113.00 and gave the company a “neutral” rating in a research report on Thursday, October 31st. William Blair reaffirmed a “market perform” rating on shares of Altair Engineering in a research report on Thursday, October 31st. Loop Capital reiterated a “hold” rating and issued a $113.00 price target on shares of Altair Engineering in a research note on Thursday, October 31st. Wolfe Research cut Altair Engineering from a “strong-buy” rating to a “hold” rating in a research note on Sunday, November 3rd. Finally, Needham & Company LLC reiterated a “hold” rating and issued a $100.00 price target on shares of Altair Engineering in a research note on Thursday, October 31st. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $100.71.

Insiders Place Their Bets

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