Altair Engineering’s (ALTR) “Neutral” Rating Reiterated at Rosenblatt Securities

Rosenblatt Securities reiterated their neutral rating on shares of Altair Engineering (NASDAQ:ALTR) in a report issued on Monday, Benzinga reports. The firm currently has a $88.00 price objective on the software’s stock.

Several other brokerages also recently weighed in on ALTR. JPMorgan Chase & Co. increased their price target on shares of Altair Engineering from $86.00 to $95.00 and gave the stock an overweight rating in a report on Tuesday, March 26th. Oppenheimer increased their price target on shares of Altair Engineering from $95.00 to $100.00 and gave the stock an outperform rating in a report on Friday, February 23rd. Royal Bank of Canada reiterated a sector perform rating and issued a $90.00 price target on shares of Altair Engineering in a report on Thursday, March 21st. Finally, Needham & Company LLC reiterated a buy rating and issued a $100.00 price target on shares of Altair Engineering in a report on Monday, March 25th. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of Moderate Buy and an average target price of $90.00.

Altair Engineering Trading Up 1.2 %

NASDAQ:ALTR opened at $81.41 on Monday. The company has a market capitalization of $6.72 billion, a P/E ratio of -619.23, a PEG ratio of 10.99 and a beta of 1.42. The company has a current ratio of 2.16, a quick ratio of 2.16 and a debt-to-equity ratio of 0.32. Altair Engineering has a 12 month low of $57.59 and a 12 month high of $92.92. The firm has a fifty day simple moving average of $83.57 and a 200-day simple moving average of $79.12.

Altair Engineering (NASDAQ:ALTR) last issued its earnings results on Thursday, February 22nd. The software reported $0.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.22 by $0.07. The company had revenue of $171.50 million during the quarter, compared to analyst estimates of $172.48 million. Altair Engineering had a positive return on equity of 3.77% and a negative net margin of 1.46%. On average, equities research analysts anticipate that Altair Engineering will post 0.63 earnings per share for the current year.

Insider Transactions at Altair Engineering

In other news, CRO Nelson Dias sold 375 shares of the firm’s stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $83.65, for a total transaction of $31,368.75. Following the sale, the executive now owns 33,838 shares of the company’s stock, valued at approximately $2,830,548.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CRO Nelson Dias sold 375 shares of the firm’s stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $83.65, for a total transaction of $31,368.75. Following the sale, the executive now owns 33,838 shares of the company’s stock, valued at approximately $2,830,548.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder George J. Christ sold 12,783 shares of the firm’s stock in a transaction that occurred on Tuesday, April 9th. The stock was sold at an average price of $85.85, for a total transaction of $1,097,420.55. Following the sale, the insider now directly owns 187,217 shares in the company, valued at approximately $16,072,579.45. The disclosure for this sale can be found here. Insiders have sold 161,830 shares of company stock valued at $13,876,320 in the last 90 days. 21.75% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in ALTR. Matrix Capital Management Company LP lifted its position in shares of Altair Engineering by 8.3% during the 4th quarter. Matrix Capital Management Company LP now owns 12,233,174 shares of the software’s stock valued at $1,029,422,000 after buying an additional 932,717 shares in the last quarter. Bain Capital Public Equity Management II LLC purchased a new position in shares of Altair Engineering during the 4th quarter valued at approximately $57,728,000. Wellington Management Group LLP purchased a new position in shares of Altair Engineering during the 3rd quarter valued at approximately $37,487,000. Victory Capital Management Inc. lifted its position in shares of Altair Engineering by 95.7% during the 3rd quarter. Victory Capital Management Inc. now owns 392,414 shares of the software’s stock valued at $24,549,000 after buying an additional 191,866 shares in the last quarter. Finally, Vanguard Group Inc. lifted its position in shares of Altair Engineering by 3.2% during the 3rd quarter. Vanguard Group Inc. now owns 5,727,942 shares of the software’s stock valued at $358,340,000 after buying an additional 179,838 shares in the last quarter. Hedge funds and other institutional investors own 63.38% of the company’s stock.

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.