Altair Engineering Inc. (NASDAQ:ALTR) Receives $100.83 Consensus Price Target from Analysts

Altair Engineering Inc. (NASDAQ:ALTR - Get Free Report) has been assigned a consensus rating of "Reduce" from the eight analysts that are covering the company, MarketBeat reports. One investment analyst has rated the stock with a sell rating and seven have given a hold rating to the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $100.83.

Several equities analysts recently issued reports on the company. Rosenblatt Securities reiterated a "neutral" rating and issued a $113.00 price objective on shares of Altair Engineering in a research report on Monday, February 24th. Needham & Company LLC reissued a "hold" rating on shares of Altair Engineering in a research report on Friday, February 21st.

Insider Activity

In other Altair Engineering news, CMO Amy Messano sold 416 shares of the stock in a transaction on Monday, March 17th. The stock was sold at an average price of $111.30, for a total transaction of $46,300.80. Following the transaction, the chief marketing officer now owns 22,980 shares in the company, valued at $2,557,674. This trade represents a 1.78 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Matthew Charles Brown sold 1,048 shares of Altair Engineering stock in a transaction dated Monday, December 23rd. The stock was sold at an average price of $108.90, for a total transaction of $114,127.20. Following the completion of the sale, the chief financial officer now owns 55,519 shares of the company's stock, valued at $6,046,019.10. This trade represents a 1.85 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 13,220 shares of company stock valued at $1,470,974 in the last quarter. Company insiders own 21.75% of the company's stock.

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Institutional Investors Weigh In On Altair Engineering

A number of large investors have recently added to or reduced their stakes in ALTR. Crossmark Global Holdings Inc. raised its position in shares of Altair Engineering by 22.0% in the 3rd quarter. Crossmark Global Holdings Inc. now owns 3,947 shares of the software's stock valued at $377,000 after buying an additional 711 shares in the last quarter. KBC Group NV increased its stake in Altair Engineering by 17.9% in the third quarter. KBC Group NV now owns 1,640 shares of the software's stock valued at $157,000 after acquiring an additional 249 shares during the last quarter. Thrivent Financial for Lutherans lifted its stake in Altair Engineering by 1.5% during the third quarter. Thrivent Financial for Lutherans now owns 13,961 shares of the software's stock worth $1,333,000 after purchasing an additional 201 shares during the last quarter. Quest Partners LLC acquired a new stake in shares of Altair Engineering in the 3rd quarter valued at $617,000. Finally, King Luther Capital Management Corp increased its stake in shares of Altair Engineering by 5.6% in the 3rd quarter. King Luther Capital Management Corp now owns 174,733 shares of the software's stock valued at $16,689,000 after purchasing an additional 9,310 shares during the last quarter. Institutional investors and hedge funds own 63.38% of the company's stock.

Altair Engineering Stock Up 0.2 %

ALTR stock traded up $0.21 during midday trading on Tuesday, reaching $111.75. The company's stock had a trading volume of 1,906,881 shares, compared to its average volume of 653,928. Altair Engineering has a 52 week low of $75.71 and a 52 week high of $113.12. The stock has a market cap of $9.59 billion, a PE ratio of 657.35, a price-to-earnings-growth ratio of 10.75 and a beta of 1.45. The business's 50-day simple moving average is $110.88 and its 200-day simple moving average is $104.35.

Altair Engineering (NASDAQ:ALTR - Get Free Report) last issued its quarterly earnings data 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 firm had revenue of $192.63 million for the quarter, compared to analyst estimates of $182.98 million. As a group, equities analysts forecast that Altair Engineering will post 0.87 earnings per share for the current fiscal year.

About Altair Engineering

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.