Brokerages Set Altair Engineering Inc (ALTR) Target Price at $27.40

Altair Engineering Inc (NASDAQ:ALTR) has been given an average rating of “Buy” by the six research firms that are presently covering the company, Marketbeat reports. Three investment analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $27.40.

Several analysts have recently commented on the stock. Berenberg Bank assumed coverage on shares of Altair Engineering in a research report on Tuesday. They issued a “buy” rating and a $33.00 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. 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. 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.

A hedge fund recently bought a new stake in Altair Engineering stock. Schwab Charles Investment Management Inc. bought a new position in shares of Altair Engineering Inc (NASDAQ:ALTR) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 53,601 shares of the semiconductor manufacturer’s stock, valued at approximately $1,283,000. Schwab Charles Investment Management Inc. owned about 0.09% of Altair Engineering as of its most recent filing with the Securities and Exchange Commission (SEC). Hedge funds and other institutional investors own 0.09% of the company’s stock.

Shares of Altair Engineering (NASDAQ:ALTR) traded up $0.09 during trading on Tuesday, reaching $27.58. 216,490 shares of the company’s stock were exchanged, compared to its average volume of 224,086. Altair Engineering has a 12 month low of $16.55 and a 12 month high of $28.90. 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 issued its earnings results on Thursday, November 30th. The semiconductor manufacturer reported ($0.59) earnings per share (EPS) for the quarter, missing the Zacks’ 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. Altair Engineering’s revenue was up 8.7% compared to the same quarter last year. sell-side analysts predict that Altair Engineering will post 0.22 earnings per share for the current year.

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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.

Analyst Recommendations for Altair Engineering (NASDAQ:ALTR)

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