Somewhat Positive News Coverage Somewhat Unlikely to Impact Altair Engineering (ALTR) Stock Price

News stories about Altair Engineering (NASDAQ:ALTR) have been trending somewhat positive this week, Accern reports. Accern scores the sentiment of news coverage by analyzing more than 20 million news and blog sources. Accern ranks coverage of companies on a scale of negative one to one, with scores closest to one being the most favorable. Altair Engineering earned a news impact score of 0.10 on Accern’s scale. Accern also gave headlines about the semiconductor manufacturer an impact score of 45.735107459596 out of 100, meaning that recent news coverage is somewhat unlikely to have an impact on the company’s share price in the near term.

Shares of Altair Engineering (NASDAQ ALTR) opened at $26.75 on Friday. The company has a quick ratio of 0.51, a current ratio of 0.52 and a debt-to-equity ratio of -1.31. Altair Engineering has a 52 week low of $16.55 and a 52 week high of $28.90.

Altair Engineering (NASDAQ:ALTR) last announced its earnings results 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 firm had revenue of $84.90 million for the quarter, compared to analyst estimates of $83.07 million. The firm’s quarterly revenue was up 8.7% compared to the same quarter last year. research analysts expect that Altair Engineering will post 0.22 earnings per share for the current fiscal year.

ALTR has been the subject of several research reports. JPMorgan Chase & Co. initiated coverage on shares of Altair Engineering in a research note on Monday, November 27th. They set a “neutral” rating and a $25.00 price objective for the company. Canaccord Genuity initiated coverage on shares of Altair Engineering in a research note on Monday, November 27th. They set a “hold” rating and a $25.00 price objective for the company. William Blair initiated coverage on shares of Altair Engineering in a research note on Monday, November 27th. They set an “outperform” rating for the company. Royal Bank of Canada initiated coverage on shares of Altair Engineering in a research note on Monday, November 27th. They set a “sector perform” rating and a $26.00 price objective for the company. Finally, Deutsche Bank initiated coverage on shares of Altair Engineering in a research note on Monday, November 27th. They set a “buy” rating and a $28.00 price objective for the company. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $26.00.

In other news, 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 value of $20,976,101.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 disclosure for this sale can be found here. 0.69% of the stock is currently owned by corporate insiders.

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About Altair Engineering

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.

Insider Buying and Selling by Quarter for Altair Engineering (NASDAQ:ALTR)

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