Altair Engineering’s (ALTR) “Neutral” Rating Reiterated at Rosenblatt Securities

Rosenblatt Securities reissued their neutral rating on shares of Altair Engineering (NASDAQ:ALTR) in a research note released on Monday morning,Benzinga reports. Rosenblatt Securities currently has a $113.00 price target on the software’s stock.

A number of other research firms have also weighed in on ALTR. Royal Bank of Canada upped their target price on shares of Altair Engineering from $90.00 to $113.00 and gave the stock a “sector perform” rating in a report on Thursday, October 31st. William Blair reiterated a “market perform” rating on shares of Altair Engineering in a report on Thursday, October 31st. Needham & Company LLC restated a “hold” rating on shares of Altair Engineering in a research note on Friday, February 21st. Loop Capital reissued a “hold” rating and issued a $113.00 price target on shares of Altair Engineering in a report on Thursday, October 31st. Finally, Wolfe Research downgraded shares of Altair Engineering from a “strong-buy” rating to a “hold” rating in a research report on Sunday, November 3rd. One investment analyst has rated the stock with a sell rating and seven have issued a hold rating to the stock. Based on data from MarketBeat, Altair Engineering has a consensus rating of “Hold” and a consensus price target of $100.83.

Altair Engineering Stock Up 0.0 %

Shares of ALTR stock opened at $111.60 on Monday. The firm has a market capitalization of $9.49 billion, a P/E ratio of 656.47, a P/E/G ratio of 10.75 and a beta of 1.42. Altair Engineering has a twelve month low of $75.71 and a twelve month high of $113.12. The stock’s fifty day simple moving average is $110.21 and its 200 day simple moving average is $102.03.

Altair Engineering (NASDAQ:ALTR) last released its earnings results on Thursday, February 20th. The software reported $0.36 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.15). Altair Engineering had a net margin of 2.13% and a return on equity of 8.08%. The company had revenue of $192.63 million for the quarter, compared to analyst estimates of $182.98 million. As a group, equities research analysts expect that Altair Engineering will post 0.87 EPS for the current fiscal year.

Insider Transactions at Altair Engineering

In other Altair Engineering news, CFO Matthew Charles Brown sold 1,048 shares of the firm’s stock in a transaction that occurred on Monday, December 23rd. The shares were sold at an average price of $108.90, for a total transaction of $114,127.20. Following the completion of the transaction, the chief financial officer now owns 55,519 shares of the company’s stock, valued at approximately $6,046,019.10. This trade represents a 1.85 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CRO Nelson Dias sold 22,500 shares of the firm’s stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $106.23, for a total value of $2,390,175.00. Following the transaction, the executive now owns 48,437 shares of the company’s stock, valued at $5,145,462.51. The trade was a 31.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 59,143 shares of company stock worth $6,265,694. 21.75% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Altair Engineering

A number of large investors have recently made changes to their positions in the company. NBT Bank N A NY increased its stake in Altair Engineering by 76.4% in the 4th quarter. NBT Bank N A NY now owns 247 shares of the software’s stock worth $27,000 after buying an additional 107 shares in the last quarter. Blue Trust Inc. boosted its holdings in shares of Altair Engineering by 572.1% in the 3rd quarter. Blue Trust Inc. now owns 289 shares of the software’s stock worth $28,000 after purchasing an additional 246 shares during the period. UMB Bank n.a. increased its position in Altair Engineering by 77.0% during the fourth quarter. UMB Bank n.a. now owns 285 shares of the software’s stock valued at $31,000 after acquiring an additional 124 shares during the last quarter. Johnson Financial Group Inc. bought a new position in Altair Engineering during the 4th quarter valued at about $37,000. Finally, GAMMA Investing LLC raised its holdings in shares of Altair Engineering by 14.6% in the fourth quarter. GAMMA Investing LLC now owns 729 shares of the software’s stock worth $80,000 after buying an additional 93 shares during the period. 63.38% of the stock is currently 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.