Altair Engineering (NASDAQ:ALTR) Releases Quarterly Earnings Results, Misses Estimates By $0.15 EPS

Altair Engineering (NASDAQ:ALTR) issued its earnings results on Thursday. The software reported $0.36 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.51 by ($0.15), Zacks reports. The business had revenue of $192.63 million during the quarter, compared to the consensus estimate of $182.98 million. Altair Engineering had a net margin of 2.13% and a return on equity of 8.23%.

Altair Engineering Stock Performance

ALTR stock remained flat at $111.78 during midday trading on Friday. 844,441 shares of the company traded hands, compared to its average volume of 665,204. The firm has a market cap of $9.51 billion, a price-to-earnings ratio of 657.53, a P/E/G ratio of 10.75 and a beta of 1.42. The company has a current ratio of 3.27, a quick ratio of 3.27 and a debt-to-equity ratio of 0.27. Altair Engineering has a 1-year low of $75.71 and a 1-year high of $113.12. The company’s fifty day moving average price is $109.90 and its two-hundred day moving average price is $101.40.

Insiders Place Their Bets

In related news, major shareholder Jrs Investments Llc sold 6,500 shares of Altair Engineering stock in a transaction on Friday, November 29th. The stock was sold at an average price of $105.69, for a total transaction of $686,985.00. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO James Ralph Scapa sold 13,000 shares of the firm’s stock in a transaction on Friday, November 29th. The stock was sold at an average price of $105.69, for a total value of $1,373,970.00. Following the completion of the sale, the chief executive officer now directly owns 134,045 shares of the company’s stock, valued at $14,167,216.05. This represents a 8.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 59,143 shares of company stock worth $6,265,694. Corporate insiders own 21.75% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently weighed in on the stock. Loop Capital reissued a “hold” rating and set a $113.00 price objective on shares of Altair Engineering in a research note on Thursday, October 31st. William Blair reissued a “market perform” rating on shares of Altair Engineering in a research note on Thursday, October 31st. Royal Bank of Canada lifted their price objective on shares of Altair Engineering from $90.00 to $113.00 and gave the stock a “sector perform” rating in a research note on Thursday, October 31st. Needham & Company LLC reissued a “hold” rating on shares of Altair Engineering in a research note on Friday. Finally, Rosenblatt Securities lifted their price objective on shares of Altair Engineering from $88.00 to $113.00 and gave the stock a “neutral” rating in a research note on Thursday, October 31st. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $100.71.

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.