Altair Engineering (ALTR) – Research Analysts’ Recent Ratings Changes

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Several brokerages have updated their recommendations and price targets on shares of Altair Engineering (NASDAQ: ALTR) in the last few weeks:

  • 8/14/2018 – Altair Engineering was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “Altair Engineering Inc. is focused on the development and broad application of simulation technology to synthesize and optimize designs, processes and decisions for business performance. The company serves broad industry segments. Altair Engineering Inc. is headquartered in Michigan, USA. “
  • 8/13/2018 – Altair Engineering was upgraded by analysts at ValuEngine from a “hold” rating to a “buy” rating.
  • 8/13/2018 – Altair Engineering was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $43.00 price target on the stock. According to Zacks, “Altair Engineering Inc. is focused on the development and broad application of simulation technology to synthesize and optimize designs, processes and decisions for business performance. The company serves broad industry segments. Altair Engineering Inc. is headquartered in Michigan, USA. “
  • 8/10/2018 – Altair Engineering had its price target raised by analysts at Royal Bank of Canada from $38.00 to $40.00. They now have a “sector perform” rating on the stock.
  • 8/10/2018 – Altair Engineering had its price target raised by analysts at JPMorgan Chase & Co. from $34.00 to $40.00. They now have a “neutral” rating on the stock.
  • 8/10/2018 – Altair Engineering had its price target raised by analysts at Canaccord Genuity from $32.00 to $38.00. They now have a “hold” rating on the stock.
  • 8/10/2018 – Altair Engineering had its price target raised by analysts at Needham & Company LLC from $36.00 to $40.00. They now have a “buy” rating on the stock.
  • 7/17/2018 – Altair Engineering was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “Altair Engineering Inc. is focused on the development and broad application of simulation technology to synthesize and optimize designs, processes and decisions for business performance. The company serves broad industry segments. Altair Engineering Inc. is headquartered in Michigan, USA. “

Shares of ALTR stock traded up $0.41 during mid-day trading on Monday, reaching $40.61. The stock had a trading volume of 1,061 shares, compared to its average volume of 345,765. The firm has a market capitalization of $2.41 billion and a PE ratio of -64.46. Altair Engineering Inc has a 1-year low of $16.55 and a 1-year high of $41.81.

Altair Engineering (NASDAQ:ALTR) last announced its quarterly earnings data on Thursday, August 9th. The semiconductor manufacturer reported $0.05 earnings per share for the quarter, beating analysts’ consensus estimates of $0.04 by $0.01. The business had revenue of $95.60 million for the quarter, compared to analyst estimates of $91.08 million. Altair Engineering had a negative return on equity of 21.85% and a negative net margin of 23.35%. Altair Engineering’s quarterly revenue was up 17.2% compared to the same quarter last year. equities analysts expect that Altair Engineering Inc will post 0.28 earnings per share for the current year.

In other news, CEO James Ralph Scapa sold 1,075,420 shares of the stock in a transaction dated Monday, June 11th. The stock was sold at an average price of $33.43, for a total value of $35,951,290.60. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, major shareholder George J. Christ sold 600,000 shares of the stock in a transaction dated Monday, June 11th. The shares were sold at an average price of $33.43, for a total value of $20,058,000.00. The disclosure for this sale can be found here. Insiders sold 2,106,420 shares of company stock worth $70,417,621 over the last three months. Corporate insiders own 38.24% of the company’s stock.

Several hedge funds have recently made changes to their positions in the company. BlackRock Inc. grew its holdings in Altair Engineering by 177.3% during the second quarter. BlackRock Inc. now owns 2,199,018 shares of the semiconductor manufacturer’s stock worth $75,161,000 after acquiring an additional 1,406,125 shares during the period. Royal Bank of Canada grew its holdings in Altair Engineering by 105.2% during the first quarter. Royal Bank of Canada now owns 1,312,947 shares of the semiconductor manufacturer’s stock worth $41,175,000 after acquiring an additional 673,190 shares during the period. Contour Asset Management LLC acquired a new stake in Altair Engineering during the first quarter worth about $17,691,000. Hood River Capital Management LLC acquired a new stake in Altair Engineering during the second quarter worth about $14,075,000. Finally, Citadel Advisors LLC grew its holdings in Altair Engineering by 146.0% during the second quarter. Citadel Advisors LLC now owns 682,244 shares of the semiconductor manufacturer’s stock worth $23,319,000 after acquiring an additional 404,855 shares during the period. 25.00% of the stock is currently owned by institutional investors and hedge funds.

Altair Engineering Inc, together with its subsidiaries, provides enterprise-class engineering software 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, as well as provides data analytics and true-to-life visualization and rendering.

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