Altair Engineering (NASDAQ:ALTR) Posts Earnings Results, Misses Expectations By $0.14 EPS

Altair Engineering (NASDAQ:ALTR) issued its earnings results on Thursday. The software reported ($0.09) EPS for the quarter, missing the consensus estimate of $0.05 by ($0.14), Briefing.com reports. Altair Engineering had a return on equity of 9.71% and a net margin of 1.48%. The firm had revenue of $102.70 million during the quarter, compared to analysts’ expectations of $105.04 million. During the same period in the previous year, the firm earned $0.10 earnings per share. The firm’s quarterly revenue was up 18.3% compared to the same quarter last year.

Shares of NASDAQ ALTR traded down $7.47 during mid-day trading on Friday, hitting $30.00. The stock had a trading volume of 3,385,800 shares, compared to its average volume of 357,634. The company has a debt-to-equity ratio of 0.54, a quick ratio of 2.58 and a current ratio of 2.58. The firm has a market cap of $2.72 billion, a P/E ratio of 81.08 and a beta of 1.50. The business has a 50 day moving average price of $34.80 and a two-hundred day moving average price of $36.84. Altair Engineering has a 1 year low of $25.28 and a 1 year high of $43.28.

Several research analysts recently commented on ALTR shares. JPMorgan Chase & Co. decreased their target price on shares of Altair Engineering from $34.00 to $30.00 and set an “underweight” rating on the stock in a research note on Friday. Deutsche Bank downgraded shares of Altair Engineering from a “buy” rating to a “hold” rating and set a $36.00 target price on the stock. in a research note on Friday, August 9th. Zacks Investment Research raised shares of Altair Engineering from a “sell” rating to a “hold” rating in a research note on Wednesday, October 9th. William Blair downgraded shares of Altair Engineering from an “outperform” rating to a “market perform” rating in a research note on Friday. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $38.00 target price on shares of Altair Engineering in a research note on Friday. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and one has given a buy rating to the stock. Altair Engineering has an average rating of “Hold” and a consensus target price of $37.28.

In other news, insider Martin E. Nichols sold 2,500 shares of the company’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $33.95, for a total transaction of $84,875.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider James Dagg sold 6,840 shares of the company’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $35.18, for a total transaction of $240,631.20. The disclosure for this sale can be found here. Insiders have sold a total of 361,715 shares of company stock worth $12,271,618 in the last 90 days. Company insiders own 29.27% of the company’s stock.

Altair Engineering Company Profile

Altair Engineering Inc, together with its subsidiaries, provides software and cloud solutions worldwide. The company operates through two segments, Software and Client Engineering Services. 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.

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Earnings History for Altair Engineering (NASDAQ:ALTR)

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