Altair Engineering Inc (ALTR) Receives Consensus Recommendation of “Buy” from Brokerages

Shares of Altair Engineering Inc (NASDAQ:ALTR) have been assigned a consensus rating of “Buy” from the six ratings firms that are covering the company, Marketbeat Ratings reports. Three research analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $27.40.

Several brokerages recently weighed in on ALTR. Berenberg Bank began coverage on Altair Engineering in a report on Tuesday. They issued a “buy” rating and a $33.00 price objective for the company. Royal Bank of Canada began coverage on Altair Engineering in a report on Monday, November 27th. They issued a “sector perform” rating and a $26.00 price objective for the company. Canaccord Genuity began coverage on Altair Engineering in a report on Monday, November 27th. They issued a “hold” rating and a $25.00 price objective for the company. William Blair began coverage on Altair Engineering in a report on Monday, November 27th. They issued an “outperform” rating for the company. Finally, Deutsche Bank began coverage on Altair Engineering in a report on Monday, November 27th. They issued a “buy” rating and a $28.00 price objective for the company.

Shares of Altair Engineering (ALTR) opened at $25.22 on Tuesday. Altair Engineering has a twelve month low of $16.55 and a twelve month high of $28.90. The company has a debt-to-equity ratio of -1.31, a current ratio of 0.52 and a quick ratio of 0.51.

Altair Engineering (NASDAQ:ALTR) last announced its quarterly earnings data on Thursday, November 30th. The semiconductor manufacturer reported ($0.59) earnings per share for the quarter, missing the 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 firm’s revenue for the quarter was up 8.7% on a year-over-year basis. equities analysts anticipate that Altair Engineering will post 0.22 EPS for the current fiscal year.

In other Altair Engineering news, major shareholder Gc Investments Llc sold 800,000 shares of Altair Engineering stock in a transaction dated Friday, November 3rd. The stock was sold at an average price of $12.09, for a total transaction of $9,672,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO James Ralph Scapa sold 1,734,996 shares of Altair Engineering stock in a transaction dated Friday, November 3rd. The shares were sold at an average price of $12.09, for a total value of $20,976,101.64. The disclosure for this sale can be found here.

An institutional investor recently bought a new position in Altair Engineering stock. Schwab Charles Investment Management Inc. purchased a new stake in shares of Altair Engineering Inc (NASDAQ:ALTR) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm purchased 53,601 shares of the semiconductor manufacturer’s stock, valued at approximately $1,283,000. Schwab Charles Investment Management Inc. owned about 0.09% of Altair Engineering at the end of the most recent quarter. 0.09% of the stock is owned by institutional investors.

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Altair Engineering Company Profile

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.

Analyst Recommendations for Altair Engineering (NASDAQ:ALTR)

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