Altair Engineering - ALTR Stock Forecast, Price & News

Altair Engineering Inc., together with its subsidiaries, provides software and cloud solutions in the areas of simulation, high-performance computing, data analytics, and artificial intelligence worldwide. The company operates in two segments, Software and Client Engineering Services. The Software segment includes solvers and optimization technology products, high-performance computing software applications and hardware products, modeling and visualization tools, data analytics and analysis products, and Internet of Things platform and analytics tools, as well as support and the complementary software products. This segment also offers software technologies in the areas of computational fluid dynamics and fatigue, manufacturing process simulation, and cost estimation for the applications in marine, motorcycle, aerospace, chemical, and architecture industries; and software-related services, such as consulting, implementation, and training services that focuses on the product design and development expertise and analysis from the component level up to complete product engineering at various stage of the lifecycle. The Client Engineering Services segment provides client engineering services. In addition, the company is involved in the development and sale of solid state lighting technology along with communication and control protocols based on its intellectual property for the direct replacement of fluorescent light tubes with LED lamps. Its integrated suite of software optimizes design performance across various disciplines, including structures, motion, fluids, thermal management, electromagnetics, system modeling, and embedded systems. The company's customers include universities, government agencies, manufacturers, pharmaceutical firms, banking, financial services, and insurance, weather prediction agencies, and electronics design companies. Altair Engineering Inc. was incorporated in 1985 and is headquartered in Troy, Michigan.

Altair Engineering Trading Up 1.3 %

Altair Engineering stock traded up $0.71 during trading hours on Friday, hitting $56.03. The company had a trading volume of 3,502 shares, compared to its average volume of 275,325. The company has a quick ratio of 2.96, a current ratio of 2.96 and a debt-to-equity ratio of 0.55. Altair Engineering has a fifty-two week low of $48.19 and a fifty-two week high of $82.96. The firm's fifty day moving average is $53.83 and its 200-day moving average is $57.25.

Altair Engineering (NASDAQ:ALTR - Get Rating) last posted its quarterly earnings data on Thursday, August 4th. The software reported $0.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.09 by $0.04. Altair Engineering had a negative net margin of 5.73% and a positive return on equity of 1.79%. The business had revenue of $132.66 million during the quarter, compared to the consensus estimate of $129.37 million. During the same period in the prior year, the firm earned ($0.04) EPS. Altair Engineering's quarterly revenue was up 10.6% compared to the same quarter last year. Research analysts anticipate that Altair Engineering will post 0.15 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on ALTR. Rosenblatt Securities cut their price target on shares of Altair Engineering from $77.00 to $70.00 and set a "buy" rating on the stock in a report on Thursday, July 21st. Oppenheimer reiterated an "initiates" rating on shares of Altair Engineering in a research note on Wednesday, July 27th. Finally, The Goldman Sachs Group lowered shares of Altair Engineering from a "neutral" rating to a "sell" rating and dropped their price objective for the company from $62.00 to $41.00 in a research note on Monday, June 27th. One research analyst has rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $70.60.

Insider Buying and Selling at Altair Engineering

In other news, insider Uwe Schramm sold 5,934 shares of the firm's stock in a transaction dated Thursday, May 26th. The shares were sold at an average price of $52.64, for a total value of $312,365.76. Following the transaction, the insider now owns 44,309 shares of the company's stock, valued at approximately $2,332,425.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In the last 90 days, insiders sold 8,943 shares of company stock worth $479,224. 22.65% of the stock is currently owned by corporate insiders.