Altair Engineering (ALTR) Now Covered by Berenberg Bank

Analysts at Berenberg Bank assumed coverage on shares of Altair Engineering (NASDAQ:ALTR) in a report released on Tuesday. The firm set a “buy” rating and a $33.00 price target on the semiconductor manufacturer’s stock. Berenberg Bank’s target price would suggest a potential upside of 24.06% from the company’s previous close.

Several other analysts have also issued reports on ALTR. William Blair assumed coverage on shares of Altair Engineering in a research report on Monday, November 27th. They issued an “outperform” rating on the stock. JPMorgan 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 on the stock. Royal Bank of Canada assumed coverage on shares of Altair Engineering in a research report on Monday, November 27th. They issued a “sector perform” rating and a $26.00 price target on the stock. Canaccord Genuity assumed 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 on the stock. Finally, Deutsche Bank assumed coverage on shares of Altair Engineering in a research report on Monday, November 27th. They issued a “buy” rating and a $28.00 price target on the stock. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $27.40.

Shares of Altair Engineering (ALTR) opened at $26.60 on Tuesday. 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 12-month low of $16.55 and a 12-month high of $28.90.

Altair Engineering (NASDAQ:ALTR) last posted its quarterly earnings results on Thursday, November 30th. The semiconductor manufacturer reported ($0.59) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.04 by ($0.63). The business had revenue of $84.90 million for the quarter, compared to the consensus estimate of $83.07 million. The company’s revenue for the quarter was up 8.7% compared to the same quarter last year. equities analysts expect that Altair Engineering will post 0.22 EPS for the current year.

In other news, CEO James Ralph Scapa sold 1,734,996 shares of the firm’s stock in a transaction dated Friday, November 3rd. The shares were sold at an average price of $12.09, for a total transaction of $20,976,101.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Gc Investments Llc sold 800,000 shares of the firm’s 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 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. acquired a new position in shares of Altair Engineering Inc (NASDAQ:ALTR) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 53,601 shares of the semiconductor manufacturer’s stock, valued at approximately $1,283,000. Schwab Charles Investment Management Inc. owned 0.09% of Altair Engineering as of its most recent filing with the Securities and Exchange Commission. Institutional investors and hedge funds own 0.09% of the company’s stock.

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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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