Altair Engineering Inc. (NASDAQ:ALTR) Receives Consensus “Hold” Recommendation from Analysts
Altair Engineering Inc. Shares (NASDAQ:ALTR – Get a rating) received an average rating of “Hold” from the eight rating agencies that currently cover the company, MarketBeat.com reports. Five analysts rated the stock with a hold recommendation and three gave the company a buy recommendation. The 12-month average target price among brokerages that have covered the stock over the past year is $82.25.
A number of research analysts have weighed in on ALTR shares recently. Zacks Investment Research downgraded Altair Engineering shares from a “buy” rating to a “hold” rating in a Wednesday, March 2 research note. Goldman Sachs Group lowered its price target on Altair Engineering shares from $78.00 to $67.00 and set a “neutral” rating on the stock in a Monday, March 7 research note.
In other Altair Engineering, CMO news Amy Messano sold 396 shares of the company in a transaction that took place on Monday, March 7. The shares were sold at an average price of $64.55, for a total value of $25,561.80. The transaction was disclosed in a document filed with the SEC, accessible via the SEC website. Also, insider Gilma Saravia sold 816 shares of the company in a trade that took place on Monday, March 7. The stock was sold at an average price of $64.55, for a total transaction of $52,672.80. Disclosure of this sale can be found here. Insiders sold a total of 11,176 shares of the company worth $693,839 in the past three months. Company insiders hold 22.65% of the company’s stock.
Several hedge funds have recently increased or reduced their stakes in the company. Hardy Reed LLC purchased a new equity stake in Altair Engineering during Q1 worth approximately $162,000. Comerica Bank increased its position in Altair Engineering shares by 2.2% during the 1st quarter. Comerica Bank now owns 179,125 shares of the software valued at $10,448,000 after purchasing an additional 3,888 shares during the period. Conestoga Capital Advisors LLC increased its stake in Altair Engineering by 1.4% in Q1. Conestoga Capital Advisors LLC now owns 2,362,649 shares of the software worth $152,155,000 after purchasing an additional 32,010 shares in the last quarter. Zurcher Kantonalbank Zurcher Kantonalbank increased its stake in Altair Engineering by 13.1% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,780 shares of software stock valued at $437,000 after purchasing an additional 787 shares in the last quarter. Finally, YorkBridge Wealth Partners LLC acquired a new stake in Altair Engineering in Q1 valued at approximately $266,000.
Shares of ALTR opened at $55.11 on Friday. The company’s 50-day moving average is $61.45 and its two-hundred-day moving average is $67.15. The company has a market capitalization of $4.37 billion, a P/E ratio of -423.92 and a beta of 1.52. Altair Engineering has a fifty-two week minimum of $53.44 and a fifty-two week maximum of $82.96.
Altair Engineering (NASDAQ:ALTR – Get a rating) last released its results on Thursday, February 24. The software reported EPS of $0.05 for the quarter, beating the Zacks consensus estimate of ($0.03) by $0.08. Altair Engineering posted a positive return on equity of 3.72% and a negative net margin of 1.65%. The company posted revenue of $140.80 million for the quarter, compared to $126.05 million expected by analysts. During the same period last year, the company achieved EPS of $0.09. The company’s quarterly revenue increased 5.5% year over year. As a group, analysts expect Altair Engineering to post 0.2 earnings per share for the current fiscal year.
Altair Engineering Company Profile (Get a rating)
Altair Engineering Inc, together with its subsidiaries, provides software and cloud solutions in the fields of simulation, high performance computing, data analysis and artificial intelligence worldwide. The Company operates in two segments, software and customer engineering services. The Software segment includes solvers and optimization technology products, software applications and high-performance computing hardware products, modeling and visualization tools, analytics and data analysis products, platform and IoT analysis tools, as well as support and complementary software products.
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