Altair Engineering (NASDAQ:ALTR) Receives “Hold” Rating from Needham & Company LLC

Needham & Company LLC reaffirmed their hold rating on shares of Altair Engineering (NASDAQ:ALTR) in a research report report published on Friday morning,Benzinga reports.

A number of other research analysts have also recently issued reports on ALTR. William Blair restated a “market perform” rating on shares of Altair Engineering in a report on Thursday, October 31st. Rosenblatt Securities lifted their price target on shares of Altair Engineering from $88.00 to $113.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. Loop Capital restated a “hold” rating and issued a $113.00 price objective on shares of Altair Engineering in a research report on Thursday, October 31st. Royal Bank of Canada raised their price objective on Altair Engineering from $90.00 to $113.00 and gave the stock a “sector perform” rating in a research note on Thursday, October 31st. Finally, Wolfe Research cut Altair Engineering from a “strong-buy” rating to a “hold” rating in a research note on Sunday, November 3rd. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, Altair Engineering currently has a consensus rating of “Hold” and a consensus target price of $100.71.

Altair Engineering Price Performance

NASDAQ:ALTR opened at $111.78 on Friday. The company has a quick ratio of 3.27, a current ratio of 3.27 and a debt-to-equity ratio of 0.27. Altair Engineering has a 12-month low of $75.71 and a 12-month high of $113.12. The stock’s fifty day simple moving average is $109.90 and its 200-day simple moving average is $101.40. The firm has a market capitalization of $9.51 billion, a P/E ratio of 294.17, a P/E/G ratio of 10.70 and a beta of 1.42.

Altair Engineering (NASDAQ:ALTR) last released its earnings results on Thursday, February 20th. The software reported $0.36 earnings per share for the quarter, missing the consensus estimate of $0.51 by ($0.15). The company had revenue of $192.63 million during the quarter, compared to analyst estimates of $182.98 million. Altair Engineering had a net margin of 5.10% and a return on equity of 7.49%. Equities research analysts expect that Altair Engineering will post 0.75 earnings per share for the current year.

Insider Buying and Selling

In other news, major shareholder Jrs Investments Llc sold 6,500 shares of the business’s stock in a transaction on Friday, November 29th. The shares were sold at an average price of $105.69, for a total value of $686,985.00. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO James Ralph Scapa sold 16,095 shares of the stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $105.65, for a total transaction of $1,700,436.75. Following the transaction, the chief executive officer now owns 117,950 shares of the company’s stock, valued at $12,461,417.50. The trade was a 12.01 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 59,143 shares of company stock valued at $6,265,694. Company insiders own 21.75% of the company’s stock.

Institutional Investors Weigh In On Altair Engineering

Several institutional investors and hedge funds have recently added to or reduced their stakes in ALTR. Magnetar Financial LLC bought a new position in shares of Altair Engineering in the 4th quarter valued at about $62,142,000. Norges Bank bought a new position in Altair Engineering in the fourth quarter valued at approximately $37,899,000. Schonfeld Strategic Advisors LLC increased its position in shares of Altair Engineering by 13,097.8% during the 4th quarter. Schonfeld Strategic Advisors LLC now owns 331,528 shares of the software’s stock worth $36,173,000 after purchasing an additional 329,016 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of Altair Engineering by 4.8% during the 4th quarter. Vanguard Group Inc. now owns 6,894,230 shares of the software’s stock worth $752,229,000 after purchasing an additional 317,575 shares in the last quarter. Finally, Woodline Partners LP acquired a new stake in shares of Altair Engineering in the 4th quarter valued at approximately $32,733,000. 63.38% of the stock is owned by institutional investors.

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.