Rosenblatt Securities Issues Positive Forecast for Altair Engineering (NASDAQ:ALTR) Stock Price

Altair Engineering (NASDAQ:ALTR) had its price objective boosted by Rosenblatt Securities from $88.00 to $113.00 in a research note issued on Thursday, Benzinga reports. The brokerage currently has a “neutral” rating on the software’s stock. Rosenblatt Securities’ price objective points to a potential upside of 4.02% from the stock’s current price.

ALTR has been the topic of a number of other reports. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $90.00 price objective on shares of Altair Engineering in a research note on Wednesday, October 23rd. The Goldman Sachs Group downgraded shares of Altair Engineering from a “neutral” rating to a “sell” rating and dropped their price target for the stock from $85.00 to $71.00 in a research report on Friday, August 2nd. JPMorgan Chase & Co. lowered shares of Altair Engineering from an “overweight” rating to a “neutral” rating and set a $95.00 target price on the stock. in a report on Monday, July 15th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $100.00 price target on shares of Altair Engineering in a report on Friday, August 2nd. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $97.43.

Altair Engineering Price Performance

ALTR stock opened at $108.63 on Thursday. The company has a market capitalization of $9.02 billion, a P/E ratio of 1,207.00, a PEG ratio of 12.15 and a beta of 1.45. The company has a fifty day moving average price of $93.72 and a 200-day moving average price of $91.29. The company has a debt-to-equity ratio of 0.29, a quick ratio of 3.14 and a current ratio of 3.14. Altair Engineering has a 52-week low of $57.59 and a 52-week high of $113.12.

Altair Engineering (NASDAQ:ALTR) last announced its earnings results on Thursday, August 1st. The software reported $0.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.15 by $0.01. The business had revenue of $148.80 million during the quarter, compared to analyst estimates of $146.88 million. Altair Engineering had a return on equity of 6.89% and a net margin of 4.26%. Altair Engineering’s revenue for the quarter was up 5.4% compared to the same quarter last year. During the same period last year, the company earned ($0.15) EPS. As a group, equities analysts expect that Altair Engineering will post 0.65 EPS for the current year.

Insider Buying and Selling at Altair Engineering

In other news, Director Teresa A. Harris sold 620 shares of the stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $82.57, for a total transaction of $51,193.40. Following the transaction, the director now owns 21,242 shares of the company’s stock, valued at $1,753,951.94. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, CEO James Ralph Scapa sold 13,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 28th. The stock was sold at an average price of $89.04, for a total transaction of $1,157,520.00. Following the completion of the sale, the chief executive officer now owns 134,045 shares in the company, valued at $11,935,366.80. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Teresa A. Harris sold 620 shares of the company’s stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $82.57, for a total value of $51,193.40. Following the transaction, the director now directly owns 21,242 shares in the company, valued at $1,753,951.94. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 360,360 shares of company stock valued at $35,476,660. Corporate insiders own 21.75% of the company’s stock.

Institutional Trading of Altair Engineering

A number of hedge funds and other institutional investors have recently bought and sold shares of ALTR. Principal Financial Group Inc. raised its holdings in shares of Altair Engineering by 288.6% in the 1st quarter. Principal Financial Group Inc. now owns 24,357 shares of the software’s stock worth $2,098,000 after acquiring an additional 18,089 shares during the last quarter. Daiwa Securities Group Inc. bought a new position in shares of Altair Engineering in the first quarter valued at approximately $1,465,000. GSA Capital Partners LLP boosted its position in shares of Altair Engineering by 355.9% during the first quarter. GSA Capital Partners LLP now owns 24,852 shares of the software’s stock valued at $2,141,000 after buying an additional 19,401 shares during the last quarter. SG Americas Securities LLC bought a new stake in Altair Engineering during the first quarter worth $177,000. Finally, Swiss National Bank raised its position in Altair Engineering by 1.2% in the 1st quarter. Swiss National Bank now owns 107,800 shares of the software’s stock valued at $9,287,000 after buying an additional 1,300 shares during the last quarter. 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.