Shares of Altair Engineering Inc (NASDAQ:ALTR) have received a consensus recommendation of “Buy” from the nine ratings firms that are currently covering the firm, Marketbeat reports. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $38.29.

A number of research firms have recently commented on ALTR. Zacks Investment Research raised Altair Engineering from a “hold” rating to a “buy” rating and set a $33.00 target price on the stock in a research note on Tuesday, November 27th. ValuEngine raised Altair Engineering from a “hold” rating to a “buy” rating in a research note on Saturday, December 1st. Finally, Canaccord Genuity reissued a “hold” rating and issued a $36.00 target price on shares of Altair Engineering in a research note on Tuesday, November 13th.

Several institutional investors have recently added to or reduced their stakes in the stock. Squarepoint Ops LLC boosted its position in shares of Altair Engineering by 246.8% during the fourth quarter. Squarepoint Ops LLC now owns 25,661 shares of the software’s stock valued at $708,000 after buying an additional 18,261 shares during the last quarter. Bank of America Corp DE boosted its position in shares of Altair Engineering by 19.7% during the fourth quarter. Bank of America Corp DE now owns 44,284 shares of the software’s stock valued at $1,222,000 after buying an additional 7,282 shares during the last quarter. Barclays PLC boosted its position in shares of Altair Engineering by 32.0% during the fourth quarter. Barclays PLC now owns 15,727 shares of the software’s stock valued at $435,000 after buying an additional 3,815 shares during the last quarter. Claybrook Capital LLC purchased a new stake in shares of Altair Engineering during the fourth quarter valued at $1,427,000. Finally, Polar Capital LLP purchased a new stake in shares of Altair Engineering during the fourth quarter valued at $20,295,000. 38.16% of the stock is currently owned by institutional investors.

Shares of NASDAQ ALTR traded up $0.22 during trading on Friday, reaching $34.16. The company had a trading volume of 149,260 shares, compared to its average volume of 182,241. Altair Engineering has a 12-month low of $25.20 and a 12-month high of $43.99. The stock has a market cap of $2.39 billion, a P/E ratio of -54.22 and a beta of 1.62.

About Altair Engineering

Altair Engineering Inc, together with its subsidiaries, provides enterprise-class engineering software 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, as well as provides data analytics and true-to-life visualization and rendering.

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