Altair Engineering (NASDAQ:ALTR) Stock Rating Reaffirmed by Needham & Company LLC
Needham & Company LLC restated their buy rating on shares of Altair Engineering (NASDAQ:ALTR) in a research note published on Monday, AnalystRatings.com reports. Needham & Company LLC currently has a $40.00 price objective on the software’s stock, down from their previous price objective of $42.00.
A number of other equities research analysts also recently weighed in on the stock. ValuEngine downgraded shares of Altair Engineering from a buy rating to a hold rating in a research note on Saturday, May 18th. Deutsche Bank downgraded shares of Altair Engineering from a buy rating to a hold rating and set a $36.00 price target on the stock. in a research note on Friday, August 9th. Finally, Zacks Investment Research downgraded shares of Altair Engineering from a buy rating to a hold rating in a research note on Tuesday, July 23rd. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the company. Altair Engineering has a consensus rating of Hold and an average target price of $39.14.
Shares of Altair Engineering stock opened at $34.00 on Monday. Altair Engineering has a 1 year low of $25.28 and a 1 year high of $43.99. The company has a current ratio of 1.09, a quick ratio of 1.06 and a debt-to-equity ratio of 0.12. The company’s fifty day simple moving average is $40.56 and its 200-day simple moving average is $37.55. The company has a market cap of $2.41 billion, a price-to-earnings ratio of 91.89 and a beta of 1.40.
In other Altair Engineering news, CEO James Ralph Scapa sold 83,700 shares of Altair Engineering stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $36.86, for a total transaction of $3,085,182.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Uwe Schramm sold 2,000 shares of Altair Engineering stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $37.87, for a total value of $75,740.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 425,795 shares of company stock valued at $16,877,065. Company insiders own 29.27% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the business. Royce & Associates LP lifted its holdings in shares of Altair Engineering by 22.6% during the first quarter. Royce & Associates LP now owns 83,154 shares of the software’s stock valued at $3,061,000 after acquiring an additional 15,338 shares during the period. Well Done LLC raised its holdings in shares of Altair Engineering by 0.7% in the first quarter. Well Done LLC now owns 52,106 shares of the software’s stock valued at $1,918,000 after buying an additional 355 shares during the last quarter. Oppenheimer Asset Management Inc. raised its holdings in shares of Altair Engineering by 53.2% in the first quarter. Oppenheimer Asset Management Inc. now owns 11,039 shares of the software’s stock valued at $406,000 after buying an additional 3,835 shares during the last quarter. Legal & General Group Plc raised its holdings in shares of Altair Engineering by 313.6% in the fourth quarter. Legal & General Group Plc now owns 18,869 shares of the software’s stock valued at $520,000 after buying an additional 14,307 shares during the last quarter. Finally, Lombard Odier Asset Management USA Corp bought a new position in shares of Altair Engineering in the first quarter valued at about $2,209,000. 39.85% of the stock is owned by institutional investors.
Altair Engineering Company Profile
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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