Royal Bank Of Canada Begins Coverage on Altair Engineering (ALTR)

Investment analysts at Royal Bank Of Canada started coverage on shares of Altair Engineering (NASDAQ:ALTR) in a report issued on Monday, November 27th. The brokerage set a “sector perform” rating and a $26.00 price target on the semiconductor manufacturer’s stock. Royal Bank Of Canada’s price target indicates a potential upside of 20.37% from the company’s previous close.

ALTR has been the subject of a number of other reports. Canaccord Genuity started coverage on shares of Altair Engineering in a research report on Monday, November 27th. They issued a “hold” rating and a $25.00 price target for the company. J P Morgan Chase & Co assumed coverage on shares of Altair Engineering in a research report on Monday, November 27th. They issued a “neutral” rating and a $25.00 price target for the company. Deutsche Bank assumed coverage on shares of Altair Engineering in a research report on Monday, November 27th. They set a “buy” rating and a $28.00 price objective for the company. Finally, William Blair assumed coverage on shares of Altair Engineering in a research report on Monday, November 27th. They set an “outperform” rating for the company. Three analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $26.00.

Altair Engineering (NASDAQ ALTR) traded down $0.60 during trading on Monday, reaching $21.60. The company had a trading volume of 140,153 shares, compared to its average volume of 309,172. Altair Engineering has a fifty-two week low of $16.55 and a fifty-two week high of $25.59. 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 posted its quarterly earnings results on Thursday, November 30th. The semiconductor manufacturer reported ($0.59) EPS for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.63). The company had revenue of $84.90 million during the quarter, compared to analyst estimates of $83.07 million. Altair Engineering’s revenue was up 8.7% on a year-over-year basis. sell-side analysts predict that Altair Engineering will post 0.22 EPS for the current year.

In other Altair Engineering news, major shareholder Gc Investments Llc sold 800,000 shares of the company’s stock in a transaction on Friday, November 3rd. The shares were sold at an average price of $12.09, for a total transaction of $9,672,000.00. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO James Ralph Scapa sold 1,734,996 shares of the company’s stock in a transaction on Friday, November 3rd. The shares were sold at an average price of $12.09, for a total transaction of $20,976,101.64. The disclosure for this sale can be found here. Insiders own 0.69% of the company’s stock.

COPYRIGHT VIOLATION WARNING: This report was originally published by Dispatch Tribunal and is the property of of Dispatch Tribunal. If you are accessing this report on another website, it was copied illegally and republished in violation of U.S. and international copyright and trademark law. The original version of this report can be accessed at https://www.dispatchtribunal.com/2017/12/10/altair-engineering-altr-research-coverage-started-at-royal-bank-of-canada.html.

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)

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

Leave a Reply