Altair Engineering Inc (NASDAQ:ALTR) has received an average broker rating score of 2.20 (Buy) from the five analysts that provide coverage for the stock, Zacks Investment Research reports. Three equities research analysts have rated the stock with a hold recommendation and two have assigned a strong buy recommendation to the company.
Brokers have set a 1-year consensus price objective of $26.00 for the company and are anticipating that the company will post $0.06 earnings per share for the current quarter, according to Zacks. Zacks has also given Altair Engineering an industry rank of 153 out of 265 based on the ratings given to its competitors.
Several equities research analysts recently weighed in on ALTR shares. JPMorgan Chase & Co. started coverage on Altair Engineering in a research report on Monday, November 27th. They set a “neutral” rating and a $25.00 price target on the stock. Canaccord Genuity started coverage on Altair Engineering in a research note on Monday, November 27th. They set a “hold” rating and a $25.00 price objective for the company. William Blair started coverage on Altair Engineering in a research note on Monday, November 27th. They set an “outperform” rating for the company. Royal Bank of Canada started coverage on Altair Engineering in a research note on Monday, November 27th. They set a “sector perform” rating and a $26.00 price objective for the company. Finally, Deutsche Bank started coverage on Altair Engineering in a research note on Monday, November 27th. They set a “buy” rating and a $28.00 price objective for the company.
Altair Engineering (NASDAQ:ALTR) last released its quarterly earnings results on Thursday, November 30th. The semiconductor manufacturer reported ($0.59) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.04 by ($0.63). The company had revenue of $84.90 million during the quarter, compared to the consensus estimate of $83.07 million. The business’s revenue for the quarter was up 8.7% compared to the same quarter last year. research analysts predict that Altair Engineering will post 0.22 EPS for the current year.
In other Altair Engineering news, CEO James Ralph Scapa sold 1,734,996 shares of Altair Engineering stock in a transaction on Friday, November 3rd. The stock was sold at an average price of $12.09, for a total transaction of $20,976,101.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Gc Investments Llc sold 800,000 shares of Altair Engineering stock in a transaction on Friday, November 3rd. The shares were sold at an average price of $12.09, for a total value of $9,672,000.00. The disclosure for this sale can be found here.
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About Altair Engineering
Altair Engineering Inc is a United States-based software company. The Company is focused on developing engineering software and computing technologies. The Company’s products include HyperWorks, solidThinking, PBS Works, and Carriots. The Company offers a range of solutions such as product engineering, industrial design, and tailored solutions.
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