Altair Engineering Inc (NASDAQ:ALTR) has received an average rating of “Hold” from the eight research firms that are presently covering the company, Marketbeat.com reports. Six research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $39.14.
ALTR has been the subject of a number of research analyst reports. Zacks Investment Research cut shares of Physicians Realty Trust from a “hold” rating to a “sell” rating in a research report on Tuesday. ValuEngine cut shares of Zymeworks from a “buy” rating to a “hold” rating in a research report on Saturday, May 18th. Finally, Guggenheim began coverage on Altair Engineering in a report on Tuesday, March 19th. They set a “neutral” rating and a $37.70 target price for the company.
In related news, CEO James Ralph Scapa sold 83,700 shares of the business’s stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $36.86, for a total value of $3,085,182.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Christ Revocable Trust sold 20,425 shares of the company’s stock in a transaction dated Friday, July 12th. The stock was sold at an average price of $41.35, for a total transaction of $844,573.75. The disclosure for this sale can be found here. Insiders have sold 371,436 shares of company stock valued at $14,223,215 in the last three months. Insiders own 29.27% of the company’s stock.
ALTR stock traded up $0.25 during midday trading on Tuesday, reaching $41.86. 200,724 shares of the company were exchanged, compared to its average volume of 318,388. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.09 and a quick ratio of 1.06. The stock’s 50-day simple moving average is $38.98. Altair Engineering has a one year low of $25.28 and a one year high of $43.99. The firm has a market capitalization of $2.96 billion, a price-to-earnings ratio of 113.14 and a beta of 1.40.
Altair Engineering (NASDAQ:ALTR) last released its quarterly earnings data on Thursday, May 9th. The software reported $0.26 EPS for the quarter, topping the Zacks’ consensus estimate of $0.22 by $0.04. Altair Engineering had a net margin of 2.62% and a return on equity of 11.56%. The firm had revenue of $127.86 million during the quarter, compared to analysts’ expectations of $125.82 million. During the same period in the previous year, the business posted $0.35 earnings per share. The company’s revenue for the quarter was up 12.9% compared to the same quarter last year. On average, research analysts expect that Altair Engineering will post 0.52 EPS for the current year.
About Altair Engineering
Altair Engineering Inc, together with its subsidiaries, provides software and cloud solutions worldwide. The company operates through two segments, Software and Client Engineering Services. Its integrated suite of multi-disciplinary computer aided engineering software optimizes design performance across various disciplines, including structures, motion, fluids, thermal management, electromagnetics, system modeling and embedded systems.
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