Altair Engineering (ALTR) Reaches New 52-Week High and Low at $37.77

Altair Engineering Inc (NASDAQ:ALTR) reached a new 52-week high and low on Thursday . The company traded as low as $37.77 and last traded at $36.46, with a volume of 14519 shares. The stock had previously closed at $37.33.

ALTR has been the subject of a number of recent research reports. Citigroup boosted their price target on shares of Altair Engineering to $37.00 and gave the stock a “buy” rating in a research note on Thursday, March 22nd. Royal Bank of Canada boosted their price target on shares of Altair Engineering to $38.00 and gave the stock a “sector perform” rating in a research note on Monday. Needham & Company LLC initiated coverage on shares of Altair Engineering in a research note on Monday, March 26th. They set a “buy” rating and a $36.00 price target for the company. Berenberg Bank reissued a “buy” rating and set a $36.00 price target on shares of Altair Engineering in a research note on Thursday, May 17th. Finally, ValuEngine raised shares of Altair Engineering from a “sell” rating to a “hold” rating in a research note on Monday, April 2nd. Four analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The company has an average rating of “Buy” and an average price target of $34.88.

The company has a current ratio of 0.77, a quick ratio of 0.76 and a debt-to-equity ratio of 0.01. The company has a market cap of $2.26 billion and a P/E ratio of -58.37.

Altair Engineering (NASDAQ:ALTR) last issued its earnings results on Monday, May 14th. The semiconductor manufacturer reported $0.08 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.03 by $0.05. The firm had revenue of $91.70 million during the quarter, compared to the consensus estimate of $87.01 million. The firm’s revenue was up 19.2% compared to the same quarter last year. equities analysts predict that Altair Engineering Inc will post 0.27 earnings per share for the current fiscal year.

In other news, President Brett R. Chouinard sold 75,000 shares of the company’s stock in a transaction that occurred on Monday, June 11th. The shares were sold at an average price of $33.43, for a total value of $2,507,250.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Massimo Giuseppe Fariello sold 22,000 shares of the company’s stock in a transaction that occurred on Monday, June 11th. The shares were sold at an average price of $33.43, for a total transaction of $735,460.00. The disclosure for this sale can be found here. Insiders sold 2,106,420 shares of company stock valued at $70,417,621 in the last ninety days. Insiders own 38.24% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in ALTR. Schwab Charles Investment Management Inc. acquired a new position in shares of Altair Engineering in the fourth quarter valued at approximately $1,283,000. Wells Fargo & Company MN acquired a new position in shares of Altair Engineering in the fourth quarter valued at approximately $7,858,000. State of Wisconsin Investment Board acquired a new position in shares of Altair Engineering in the fourth quarter valued at approximately $2,631,000. BlackRock Inc. acquired a new position in shares of Altair Engineering in the fourth quarter valued at approximately $16,950,000. Finally, Royce & Associates LP acquired a new position in shares of Altair Engineering in the fourth quarter valued at approximately $485,000. Institutional investors own 23.22% of the company’s stock.

Altair Engineering Company Profile

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.

Receive News & Ratings for Altair Engineering Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Altair Engineering and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply