Altair Engineering's (ALTR) Neutral Rating Reiterated at Rosenblatt Securities

Rosenblatt Securities reiterated their neutral rating on shares of Altair Engineering (NASDAQ:ALTR - Free Report) in a research note published on Monday morning, Benzinga reports. The brokerage currently has a $88.00 price objective on the software's stock.

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

Altair Engineering Stock Performance

Shares of Altair Engineering stock traded down $1.12 during trading on Monday, hitting $82.46. 698,338 shares of the company's stock were exchanged, compared to its average volume of 410,991. Altair Engineering has a 52-week low of $57.59 and a 52-week high of $92.92. The company has a debt-to-equity ratio of 0.32, a quick ratio of 2.16 and a current ratio of 2.16. The stock has a market capitalization of $6.80 billion, a price-to-earnings ratio of -634.31, a PEG ratio of 11.14 and a beta of 1.42. The business has a 50-day simple moving average of $83.71 and a 200-day simple moving average of $79.02.

Altair Engineering (NASDAQ:ALTR - Get Free Report) last released its quarterly earnings data on Thursday, February 22nd. The software reported $0.29 earnings per share for the quarter, beating analysts' consensus estimates of $0.22 by $0.07. Altair Engineering had a positive return on equity of 3.77% and a negative net margin of 1.46%. The business had revenue of $171.50 million during the quarter, compared to analyst estimates of $172.48 million. On average, research analysts forecast that Altair Engineering will post 0.63 EPS for the current year.

Insider Activity

In other Altair Engineering news, CEO James Ralph Scapa sold 10,000 shares of the stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $91.07, for a total transaction of $910,700.00. Following the completion of the transaction, the chief executive officer now owns 103,591 shares of the company's stock, valued at $9,434,032.37. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CEO James Ralph Scapa sold 10,000 shares of the stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $91.07, for a total value of $910,700.00. Following the completion of the sale, the chief executive officer now directly owns 103,591 shares in the company, valued at $9,434,032.37. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Christ Revocable Trust sold 3,904 shares of the firm's stock in a transaction dated Tuesday, March 26th. The stock was sold at an average price of $85.42, for a total transaction of $333,479.68. Following the completion of the transaction, the insider now directly owns 283,336 shares in the company, valued at $24,202,561.12. The disclosure for this sale can be found here. Insiders have sold a total of 161,830 shares of company stock worth $13,876,320 over the last 90 days. 21.75% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Altair Engineering

Several hedge funds and other institutional investors have recently made changes to their positions in ALTR. McGlone Suttner Wealth Management Inc. acquired a new position in Altair Engineering during the fourth quarter worth $31,000. EdgeRock Capital LLC acquired a new stake in Altair Engineering during the fourth quarter worth about $33,000. Harvest Fund Management Co. Ltd raised its stake in Altair Engineering by 1,157.7% during the fourth quarter. Harvest Fund Management Co. Ltd now owns 981 shares of the software's stock worth $83,000 after purchasing an additional 903 shares during the period. Allspring Global Investments Holdings LLC boosted its holdings in Altair Engineering by 10.5% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 1,991 shares of the software's stock valued at $125,000 after purchasing an additional 190 shares during the last quarter. Finally, SG Americas Securities LLC grew its stake in shares of Altair Engineering by 31.3% in the 3rd quarter. SG Americas Securities LLC now owns 2,171 shares of the software's stock valued at $136,000 after buying an additional 518 shares during the period. Institutional investors and hedge funds 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.