Altair Engineering Inc. (NASDAQ:ALTR) Given Average Rating of “Hold” by Analysts

Altair Engineering Inc. (NASDAQ:ALTR) has been given an average recommendation of “Hold” by the nine brokerages that are presently covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, seven have given a hold recommendation and one has given a buy recommendation to the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $100.71.

A number of research firms have commented on ALTR. Rosenblatt Securities increased their price target on Altair Engineering from $88.00 to $113.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. William Blair reiterated a “market perform” rating on shares of Altair Engineering in a research note on Thursday, October 31st. Wolfe Research lowered shares of Altair Engineering from a “strong-buy” rating to a “hold” rating in a research note on Sunday, November 3rd. Loop Capital reiterated a “hold” rating and set a $113.00 price objective on shares of Altair Engineering in a research note on Thursday, October 31st. Finally, Needham & Company LLC reissued a “hold” rating and issued a $100.00 target price on shares of Altair Engineering in a research report on Thursday, October 31st.

Altair Engineering Stock Performance

Shares of ALTR stock opened at $110.51 on Friday. The company has a current ratio of 3.27, a quick ratio of 3.27 and a debt-to-equity ratio of 0.27. The company has a market cap of $9.40 billion, a PE ratio of 290.82, a PEG ratio of 10.62 and a beta of 1.42. Altair Engineering has a 12-month low of $75.71 and a 12-month high of $113.12. The business’s fifty day simple moving average is $108.33 and its 200-day simple moving average is $99.01.

Insider Activity

In related news, 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 value of $114,127.20. Following the completion of the transaction, the chief financial officer now owns 55,519 shares in the company, valued at $6,046,019.10. The trade was a 1.85 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Ravi Kunju sold 360 shares of the business’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $103.65, for a total value of $37,314.00. Following the completion of the sale, the insider now owns 30,305 shares of the company’s stock, valued at $3,141,113.25. This trade represents a 1.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 61,947 shares of company stock valued at $6,557,428 in the last three months. 21.75% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Altair Engineering

Several institutional investors have recently bought and sold shares of the company. Blue Trust Inc. boosted its stake 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 acquiring an additional 246 shares during the last quarter. UMB Bank n.a. boosted its stake in Altair Engineering by 77.0% during the 4th quarter. UMB Bank n.a. now owns 285 shares of the software’s stock worth $31,000 after purchasing an additional 124 shares during the last quarter. GAMMA Investing LLC grew its holdings in shares of Altair Engineering by 52.2% during the third quarter. GAMMA Investing LLC now owns 636 shares of the software’s stock worth $61,000 after buying an additional 218 shares in the last quarter. Van ECK Associates Corp raised its position in shares of Altair Engineering by 28.5% in the third quarter. Van ECK Associates Corp now owns 1,358 shares of the software’s stock valued at $130,000 after buying an additional 301 shares during the last quarter. Finally, KBC Group NV lifted its stake in shares of Altair Engineering by 17.9% in the third quarter. KBC Group NV now owns 1,640 shares of the software’s stock worth $157,000 after buying an additional 249 shares in the last quarter. 63.38% of the stock is currently owned by institutional investors and hedge funds.

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.