Needham & Company LLC restated their buy rating on shares of Altair Engineering (NASDAQ:ALTR) in a research report released on Monday morning, AnalystRatings.com reports. Needham & Company LLC currently has a $40.00 price objective on the software’s stock, down from their previous price objective of $42.00.
Several other research analysts have also recently commented on ALTR. ValuEngine cut shares of Altair Engineering from a buy rating to a hold rating in a report on Saturday, May 18th. Deutsche Bank cut shares of Altair Engineering from a buy rating to a hold rating and set a $36.00 target price for the company. in a report on Friday, August 9th. Finally, Zacks Investment Research cut shares of Altair Engineering from a buy rating to a hold rating in a report on Tuesday, July 23rd. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the stock. Altair Engineering currently has an average rating of Hold and a consensus price target of $39.14.
Shares of ALTR opened at $34.00 on Monday. The firm has a 50-day moving average price of $40.56 and a 200 day moving average price of $37.55. The firm has a market capitalization of $2.41 billion, a PE ratio of 91.89 and a beta of 1.40. The company has a quick ratio of 1.06, a current ratio of 1.09 and a debt-to-equity ratio of 0.12. Altair Engineering has a 52-week low of $25.28 and a 52-week high of $43.99.
Altair Engineering (NASDAQ:ALTR) last posted its quarterly earnings data on Thursday, August 8th. The software reported $0.06 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.04 by $0.02. Altair Engineering had a net margin of 1.48% and a return on equity of 10.57%. The company had revenue of $106.80 million during the quarter, compared to analyst estimates of $108.69 million. During the same quarter last year, the firm posted $0.05 EPS. The business’s revenue for the quarter was up 13.7% on a year-over-year basis. On average, equities analysts expect that Altair Engineering will post 0.49 EPS for the current year.
In other news, insider James Dagg sold 8,000 shares of the stock in a transaction that occurred on Tuesday, June 11th. The shares were sold at an average price of $35.09, for a total value of $280,720.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Uwe Schramm sold 2,000 shares of the stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $37.87, for a total transaction of $75,740.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 425,795 shares of company stock valued at $16,877,065. Corporate insiders own 29.27% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Captrust Financial Advisors purchased a new stake in shares of Altair Engineering in the second quarter worth approximately $39,000. Advisor Group Inc. lifted its position in shares of Altair Engineering by 63.7% in the second quarter. Advisor Group Inc. now owns 1,020 shares of the software’s stock worth $41,000 after purchasing an additional 397 shares in the last quarter. Hilton Capital Management LLC purchased a new stake in shares of Altair Engineering in the first quarter worth approximately $50,000. Tower Research Capital LLC TRC lifted its position in shares of Altair Engineering by 116.4% in the second quarter. Tower Research Capital LLC TRC now owns 1,751 shares of the software’s stock worth $71,000 after purchasing an additional 942 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank bought a new position in Altair Engineering during the second quarter valued at approximately $73,000. 39.85% of the stock is owned by institutional investors and hedge funds.
Altair Engineering Company Profile
Altair Engineering Inc, together with its subsidiaries, provides software and cloud solutions worldwide. The company operates through two segments, Software and Client Engineering Services. Its integrated suite of multi-disciplinary computer aided engineering software optimizes design performance across various disciplines, including structures, motion, fluids, thermal management, electromagnetics, system modeling and embedded systems.
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