Shares of Altair Engineering Inc (NASDAQ:ALTR) have been assigned an average rating of “Hold” from the seven analysts that are currently covering the company, Marketbeat reports. One analyst has rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $37.43.

A number of equities research analysts have weighed in on the company. Deutsche Bank downgraded Altair Engineering from a “buy” rating to a “hold” rating and set a $36.00 target price on the stock. in a report on Friday, August 9th. Needham & Company LLC reaffirmed a “buy” rating and issued a $40.00 target price on shares of Altair Engineering in a report on Monday, October 14th. Zacks Investment Research raised Altair Engineering from a “sell” rating to a “hold” rating in a report on Wednesday, October 9th. Finally, JPMorgan Chase & Co. reaffirmed an “underweight” rating on shares of Altair Engineering in a report on Wednesday, September 11th.

Shares of ALTR stock traded down $0.45 during trading hours on Thursday, reaching $34.10. The company’s stock had a trading volume of 363,982 shares, compared to its average volume of 348,829. The firm’s 50 day simple moving average is $33.99 and its 200-day simple moving average is $36.94. The company has a market capitalization of $2.47 billion, a price-to-earnings ratio of 92.15 and a beta of 1.49. Altair Engineering has a fifty-two week low of $25.28 and a fifty-two week high of $43.28. The company has a quick ratio of 2.58, a current ratio of 2.58 and a debt-to-equity ratio of 0.54.

Altair Engineering (NASDAQ:ALTR) last issued its earnings results on Thursday, August 8th. The software reported $0.06 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.04 by $0.02. The firm had revenue of $106.80 million for the quarter, compared to the consensus estimate of $108.69 million. Altair Engineering had a return on equity of 9.71% and a net margin of 1.48%. The company’s revenue was up 13.7% compared to the same quarter last year. During the same quarter last year, the business posted $0.05 EPS. Sell-side analysts predict that Altair Engineering will post 0.49 earnings per share for the current year.

In related news, CEO James Ralph Scapa sold 90,000 shares of the firm’s stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $40.65, for a total transaction of $3,658,500.00. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, major shareholder R. Scapa Declaration Of James sold 80,000 shares of the firm’s stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $40.61, for a total value of $3,248,800.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 443,715 shares of company stock worth $16,126,838. Company insiders own 29.27% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Captrust Financial Advisors acquired a new stake in shares of Altair Engineering during the 2nd quarter valued at $39,000. Advisor Group Inc. raised its position in Altair Engineering by 63.7% during the 2nd quarter. Advisor Group Inc. now owns 1,020 shares of the software’s stock worth $41,000 after purchasing an additional 397 shares during the last quarter. Tower Research Capital LLC TRC raised its position in Altair Engineering by 116.4% during the 2nd 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 during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank bought a new position in Altair Engineering during the 2nd quarter worth $73,000. Finally, US Bancorp DE raised its position in Altair Engineering by 83.5% during the 2nd quarter. US Bancorp DE now owns 2,299 shares of the software’s stock worth $93,000 after purchasing an additional 1,046 shares during the last quarter. 64.21% of the stock is currently owned by institutional investors.

About Altair Engineering

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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Analyst Recommendations for Altair Engineering (NASDAQ:ALTR)

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