Altair Engineering (ALTR) Receives $32.43 Average Target Price from Brokerages

Shares of Altair Engineering (NASDAQ:ALTR) have received an average recommendation of “Hold” from the ten ratings firms that are currently covering the company, MarketBeat.com reports. One analyst has rated the stock with a sell rating, four have assigned a hold rating and five have given a buy rating to the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $32.43.

Several research analysts recently weighed in on ALTR shares. Berenberg Bank started coverage on shares of Altair Engineering in a research report on Tuesday, January 30th. They issued a “buy” rating and a $33.00 price objective on the stock. Royal Bank of Canada upped their price objective on shares of Altair Engineering to $29.00 and gave the stock a “sector perform” rating in a research report on Monday, March 12th. They noted that the move was a valuation call. Canaccord Genuity upped their price objective on shares of Altair Engineering from $25.00 to $30.00 and gave the stock a “hold” rating in a research report on Thursday, March 22nd. JPMorgan Chase upped their price objective on shares of Altair Engineering to $34.00 and gave the stock a “neutral” rating in a research report on Thursday, March 22nd. Finally, Citigroup upped their price objective on shares of Altair Engineering to $37.00 and gave the stock a “buy” rating in a research report on Thursday, March 22nd.

Shares of ALTR stock traded down $0.16 during trading on Friday, hitting $29.69. The company had a trading volume of 168,639 shares, compared to its average volume of 246,970. The stock has a market cap of $1,886.21 and a price-to-earnings ratio of -47.38. Altair Engineering has a 52 week low of $16.55 and a 52 week high of $33.38.

Altair Engineering (NASDAQ:ALTR) last posted its quarterly earnings data on Wednesday, March 21st. The semiconductor manufacturer reported $0.18 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.06 by $0.12. The company had revenue of $89.90 million during the quarter, compared to the consensus estimate of $87.56 million. The business’s revenue for the quarter was up 8.6% compared to the same quarter last year. equities analysts anticipate that Altair Engineering will post 0.26 earnings per share for the current fiscal year.

A number of institutional investors and hedge funds have recently modified their holdings of ALTR. Two Sigma Advisers LP purchased a new stake in Altair Engineering in the fourth quarter worth approximately $287,000. Goldman Sachs Group Inc. purchased a new stake in Altair Engineering in the fourth quarter worth approximately $439,000. Royce & Associates LP purchased a new stake in Altair Engineering in the fourth quarter worth approximately $485,000. Deutsche Bank AG purchased a new stake in Altair Engineering in the fourth quarter worth approximately $542,000. Finally, Arrowstreet Capital Limited Partnership purchased a new stake in Altair Engineering in the fourth quarter worth approximately $622,000. 20.41% of the stock is owned by institutional investors and hedge funds.

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About Altair Engineering

Altair Engineering Inc, together with its subsidiaries, provides enterprise-class engineering software worldwide. 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.

Analyst Recommendations for Altair Engineering (NASDAQ:ALTR)

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