Altair Engineering’s (ALTR) “Hold” Rating Reiterated at Loop Capital

Altair Engineering (NASDAQ:ALTR)‘s stock had its “hold” rating restated by equities researchers at Loop Capital in a research note issued on Thursday, Benzinga reports. They currently have a $113.00 price objective on the software’s stock. Loop Capital’s price objective would suggest a potential upside of 8.65% from the stock’s previous close.

Several other research firms also recently weighed in on ALTR. Rosenblatt Securities lifted their target price on Altair Engineering from $88.00 to $113.00 and gave the company a “neutral” rating in a research report on Thursday. Needham & Company LLC reiterated a “buy” rating and set a $100.00 target price on shares of Altair Engineering in a research report on Friday, August 2nd. Royal Bank of Canada reiterated a “sector perform” rating and set a $90.00 target price on shares of Altair Engineering in a research report on Wednesday, October 23rd. JPMorgan Chase & Co. downgraded Altair Engineering from an “overweight” rating to a “neutral” rating and set a $95.00 target price on the stock. in a research report on Monday, July 15th. Finally, William Blair restated a “market perform” rating on shares of Altair Engineering in a research report on Thursday. One analyst has rated the stock with a sell rating, six have assigned a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, Altair Engineering currently has a consensus rating of “Hold” and an average price target of $100.71.

Altair Engineering Stock Performance

ALTR stock opened at $104.00 on Thursday. The company has a market cap of $8.83 billion, a P/E ratio of 273.68, a price-to-earnings-growth ratio of 13.87 and a beta of 1.45. Altair Engineering has a 1 year low of $57.59 and a 1 year high of $113.12. The company has a debt-to-equity ratio of 0.29, a current ratio of 3.14 and a quick ratio of 3.14. The stock’s fifty day moving average price is $94.30 and its 200-day moving average price is $91.54.

Altair Engineering (NASDAQ:ALTR) last released its earnings results on Wednesday, October 30th. The software reported $0.09 earnings per share for the quarter, beating the consensus estimate of $0.02 by $0.07. The company had revenue of $151.45 million for the quarter, compared to the consensus estimate of $146.55 million. Altair Engineering had a return on equity of 7.70% and a net margin of 5.10%. On average, equities analysts forecast that Altair Engineering will post 0.65 earnings per share for the current year.

Insider Activity

In other news, CEO James Ralph Scapa sold 13,000 shares of the business’s stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $89.04, for a total value of $1,157,520.00. Following the transaction, the chief executive officer now directly owns 134,045 shares in the company, valued at $11,935,366.80. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CEO James Ralph Scapa sold 13,000 shares of Altair Engineering stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $89.04, for a total value of $1,157,520.00. Following the sale, the chief executive officer now directly owns 134,045 shares of the company’s stock, valued at approximately $11,935,366.80. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Teresa A. Harris sold 620 shares of Altair Engineering stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $82.57, for a total value of $51,193.40. Following the completion of the sale, the director now directly owns 21,242 shares in the company, valued at $1,753,951.94. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 360,360 shares of company stock worth $35,476,660 over the last ninety days. Corporate insiders own 21.75% of the company’s stock.

Institutional Investors Weigh In On Altair Engineering

Several large investors have recently made changes to their positions in ALTR. Blue Trust Inc. increased its holdings in shares of Altair Engineering by 572.1% in the third quarter. Blue Trust Inc. now owns 289 shares of the software’s stock worth $28,000 after purchasing an additional 246 shares during the last quarter. GAMMA Investing LLC increased its holdings in shares of Altair Engineering by 81.7% in the second quarter. GAMMA Investing LLC now owns 418 shares of the software’s stock worth $41,000 after purchasing an additional 188 shares during the last quarter. FSC Wealth Advisors LLC increased its holdings in shares of Altair Engineering by 41.3% in the second quarter. FSC Wealth Advisors LLC now owns 832 shares of the software’s stock worth $82,000 after purchasing an additional 243 shares during the last quarter. Van ECK Associates Corp increased its stake in Altair Engineering by 41.7% during the second quarter. Van ECK Associates Corp now owns 1,057 shares of the software’s stock worth $104,000 after acquiring an additional 311 shares during the last quarter. Finally, SG Americas Securities LLC bought a new stake in Altair Engineering during the first quarter worth approximately $177,000. 63.38% of the stock is owned by institutional investors.

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.