Altair Engineering Inc. (NASDAQ:ALTR) has earned an average rating of "Hold" from the eight research firms that are currently covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, five have given a hold recommendation and two have issued a buy recommendation on the company. The average 12-month price target among brokerages that have covered the stock in the last year is $43.00.
Several research analysts have commented on ALTR shares. Benchmark raised shares of Altair Engineering from a "hold" rating to a "buy" rating and set a $53.00 price target for the company in a report on Wednesday, October 14th. Royal Bank of Canada reaffirmed a "hold" rating on shares of Altair Engineering in a report on Thursday, September 10th. Zacks Investment Research raised shares of Altair Engineering from a "sell" rating to a "hold" rating in a research note on Wednesday, October 7th. Guggenheim raised shares of Altair Engineering from a "sell" rating to a "neutral" rating in a research note on Thursday, September 10th. Finally, Needham & Company LLC reissued a "buy" rating and issued a $45.00 price target on shares of Altair Engineering in a research note on Friday, August 7th.
In other Altair Engineering news, insider Uwe Schramm sold 7,802 shares of the business's stock in a transaction dated Wednesday, August 5th. The shares were sold at an average price of $42.00, for a total value of $327,684.00. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, major shareholder Jrs Investments Llc sold 20,000 shares of the business's stock in a transaction dated Tuesday, August 18th. The shares were sold at an average price of $40.78, for a total transaction of $815,600.00. Insiders sold 410,362 shares of company stock worth $17,601,134 in the last 90 days. Corporate insiders own 29.27% of the company's stock.
Several hedge funds have recently added to or reduced their stakes in ALTR. First Trust Advisors LP increased its position in shares of Altair Engineering by 0.9% during the first quarter. First Trust Advisors LP now owns 59,237 shares of the software's stock valued at $2,181,000 after buying an additional 511 shares during the period. Parametric Portfolio Associates LLC increased its position in shares of Altair Engineering by 29.9% during the first quarter. Parametric Portfolio Associates LLC now owns 16,800 shares of the software's stock valued at $445,000 after buying an additional 3,870 shares during the period. Nuveen Asset Management LLC increased its position in shares of Altair Engineering by 11.6% during the first quarter. Nuveen Asset Management LLC now owns 162,855 shares of the software's stock valued at $4,315,000 after buying an additional 16,924 shares during the period. Geode Capital Management LLC increased its position in shares of Altair Engineering by 8.9% during the first quarter. Geode Capital Management LLC now owns 568,851 shares of the software's stock valued at $15,074,000 after buying an additional 46,487 shares during the period. Finally, Invesco Ltd. purchased a new position in shares of Altair Engineering during the first quarter valued at about $330,000. Hedge funds and other institutional investors own 53.20% of the company's stock.
Altair Engineering stock opened at $47.39 on Monday. Altair Engineering has a 1-year low of $23.04 and a 1-year high of $47.43. The firm has a market capitalization of $3.46 billion, a price-to-earnings ratio of -157.96 and a beta of 1.47. The company has a current ratio of 2.41, a quick ratio of 2.41 and a debt-to-equity ratio of 0.52. The firm has a 50 day simple moving average of $42.51 and a 200 day simple moving average of $38.21.
Altair Engineering (NASDAQ:ALTR) last announced its quarterly earnings results on Thursday, August 6th. The software reported ($0.02) EPS for the quarter, meeting the Thomson Reuters' consensus estimate of ($0.02). Altair Engineering had a negative net margin of 4.76% and a negative return on equity of 0.33%. The firm had revenue of $98.50 million during the quarter, compared to the consensus estimate of $94.13 million. During the same period last year, the firm earned $0.06 EPS. The business's quarterly revenue was down 7.8% compared to the same quarter last year. On average, equities research analysts forecast that Altair Engineering will post -0.24 EPS for the current year.
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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7 Valuable China Stocks That May Get Delisted
As if investors didn’t have enough to think about in 2020, tensions between the United States and China are continuing to flare up. One of the issues, of course, is the “what did they know and when did they know it” events surrounding the novel coronavirus. There are also issues surrounding global supply chains and the fate of 5G networking.
But another issue that should be drawing the concern of investors is the threat of Chinese stocks being delisted from American exchanges. On Friday, June 26 Luckin Coffee was delisted from the NASDAQ. The company had been in hot water since reports early this year that it had credited itself with thousands of phantom sales.
But that isn’t the reason for the delisting. The reality is that Chinese companies don’t abide by the same agreed upon accounting standards as American companies. And that can make it harder for investors to get an accurate picture of what is going on with their business at a given moment.
However, like most issues between the two countries, it’s not as simple as that. There are Chinese companies that are considering voluntarily and unilaterally removing themselves from American exchanges and list on the Hong Kong or Shanghai exchanges.
While neither of these moves would mean that U.S. investors would be prohibited from trading these stocks, it could make it more difficult.
U.S. relations with China will be an issue during this election year, and likely beyond. It would be well worth your time and attention to pay careful attention to your current or planned exposure to these China stocks.
View the "7 Valuable China Stocks That May Get Delisted".