Altair Engineering (NASDAQ:ALTR) Posts Quarterly Earnings Results, Misses Estimates By $0.15 EPS

Altair Engineering (NASDAQ:ALTR) posted its quarterly earnings results on Thursday. The software reported $0.36 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.51 by ($0.15), Zacks reports. Altair Engineering had a return on equity of 7.49% and a net margin of 5.10%.

Altair Engineering Stock Up 0.5 %

Shares of Altair Engineering stock traded up $0.53 during trading on Thursday, reaching $111.78. The stock had a trading volume of 886,505 shares, compared to its average volume of 790,869. The company has a market capitalization of $9.51 billion, a price-to-earnings ratio of 294.17, a P/E/G ratio of 10.69 and a beta of 1.42. The stock has a fifty day moving average price of $109.68 and a two-hundred day moving average price of $101.12. Altair Engineering has a 52 week low of $75.71 and a 52 week high of $113.12. The company has a current ratio of 3.27, a quick ratio of 3.27 and a debt-to-equity ratio of 0.27.

Insider Activity

In other news, CFO Matthew Charles Brown sold 1,048 shares of the business’s stock in a transaction dated Monday, December 23rd. The stock was sold at an average price of $108.90, for a total value of $114,127.20. Following the sale, the chief financial officer now directly owns 55,519 shares in the company, valued at $6,046,019.10. The trade was a 1.85 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO James Ralph Scapa sold 13,000 shares of the business’s stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $105.69, for a total value of $1,373,970.00. Following the completion of the sale, the chief executive officer now owns 134,045 shares in the company, valued at approximately $14,167,216.05. This trade represents a 8.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 59,143 shares of company stock worth $6,265,694 over the last three months. Corporate insiders own 21.75% of the company’s stock.

Analyst Ratings Changes

ALTR has been the topic of several recent research reports. Royal Bank of Canada raised their price target on Altair Engineering from $90.00 to $113.00 and gave the stock a “sector perform” rating in a research report on Thursday, October 31st. Needham & Company LLC restated a “hold” rating and issued a $100.00 price target on shares of Altair Engineering in a research report on Thursday, October 31st. Wolfe Research lowered Altair Engineering from a “strong-buy” rating to a “hold” rating in a research report on Sunday, November 3rd. Loop Capital reiterated a “hold” rating and set a $113.00 target price on shares of Altair Engineering in a report on Thursday, October 31st. Finally, William Blair reiterated a “market perform” rating on shares of Altair Engineering in a report on Thursday, October 31st. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $100.71.

Altair Engineering Company Profile

Altair Engineering Inc, together with its subsidiaries, provides software and cloud solutions in the areas of simulation and design, high-performance computing, data analytics, and artificial intelligence in the United States and internationally. It operates in two segments, Software and Client Engineering Services.