TheStreet lowered shares of Altair Engineering (NASDAQ:ALTR – Get Rating) from a c- rating to a d+ rating in a research report sent to investors on Monday, TheStreetRatingsTable reports.
Other analysts also recently issued reports about the company. The Goldman Sachs Group downgraded Altair Engineering from a neutral rating to a sell rating and reduced their price target for the company from $62.00 to $41.00 in a research note on Monday, June 27th. Oppenheimer restated an initiates rating on shares of Altair Engineering in a research note on Wednesday, July 27th. Rosenblatt Securities reduced their price target on Altair Engineering from $77.00 to $70.00 and set a buy rating for the company in a research note on Thursday, July 21st. Finally, Wolfe Research assumed coverage on Altair Engineering in a research report on Tuesday, August 16th. They set an outperform rating and a $70.00 target price for the company. One investment analyst has rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, Altair Engineering presently has a consensus rating of Hold and a consensus price target of $70.50.
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Altair Engineering Stock Performance
Shares of NASDAQ ALTR opened at $46.33 on Monday. The company has a current ratio of 2.96, a quick ratio of 2.96 and a debt-to-equity ratio of 0.55. Altair Engineering has a 12 month low of $45.90 and a 12 month high of $82.96. The stock has a 50 day moving average of $53.37 and a 200-day moving average of $55.24. The company has a market capitalization of $3.70 billion, a P/E ratio of -107.74 and a beta of 1.50.
Altair Engineering (NASDAQ:ALTR – Get Rating) last released its quarterly earnings results on Thursday, August 4th. The software reported $0.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.09 by $0.04. The business had revenue of $132.66 million during the quarter, compared to the consensus estimate of $129.37 million. Altair Engineering had a positive return on equity of 1.79% and a negative net
margin of 5.73%. The firm's quarterly revenue was up 10.6% on a year-over-year basis. During the same period in the previous year, the company posted ($0.04) EPS. As a group, equities research analysts predict that Altair Engineering will post -0.03 EPS for the current year.
Institutional Trading of Altair Engineering
A number of hedge funds and other institutional investors have recently bought and sold shares of ALTR. Quadrant Capital Group LLC raised its holdings in Altair Engineering by 750.8% during the 2nd quarter. Quadrant Capital Group LLC now owns 553 shares of the software's stock valued at $29,000 after acquiring an additional 488 shares during the period. Ellevest Inc. raised its holdings in Altair Engineering by 182.3% during the 2nd quarter. Ellevest Inc. now owns 573 shares of the software's stock valued at $30,000 after acquiring an additional 370 shares during the period. Meeder Asset Management Inc. bought a new stake in Altair Engineering during the 1st quarter valued at $41,000. SeaCrest Wealth Management LLC bought a new stake in Altair Engineering during the 2nd quarter valued at $42,000. Finally, Castle Wealth Management LLC bought a new stake in Altair Engineering during the 2nd quarter valued at $53,000. Institutional investors own 62.68% of the company's stock.
About Altair Engineering
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Altair Engineering Inc, together with its subsidiaries, provides software and cloud solutions in the areas of simulation, high-performance computing, data analytics, and artificial intelligence worldwide. The company operates in two segments, Software and Client Engineering Services. The Software segment includes solvers and optimization technology products, high-performance computing software applications and hardware products, modeling and visualization tools, data analytics and analysis products, and Internet of Things platform and analytics tools, as well as support and the complementary software products.
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