Altair Engineering (NASDAQ:ALTR) Stock, Quote.Headers.trade-ideas

Altair Engineering

Altair Engineering Inc is a provider of enterprise-class engineering software enabling origination of the entire product lifecycle from concept design to in-service operation. The integrated suite of software provided by the company optimizes design performance across multiple disciplines encompassing structures, motion, fluids, thermal management, system modeling, and embedded systems. It operates through two segments: Software which includes the portfolio of software products such as solvers and optimization technology products, modeling and visualization tools, industrial and concept design tools, and others; and Client Engineering Services which provides client engineering services to support customers. Majority of its revenue comes from the software segment.

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Altair Engineering Inc. (NASDAQ: ALTR) has entered into a joint development agreement with Oasys, the software house of Arup, to offer an integrated solution for safety simulation modeling.

Altair &amp; Oasys to Offer Enhanced Safety Modeling Solutions

Earnings Beats

Howmet (NYSE: HWM) came out with quarterly earnings of $0.67 per share, beating the Zacks Consensus Estimate of $0.60 per share. This compares to earnings of $0.44 per share a year ago. These figures are adjusted for non-recurring items.

Howmet Tops Q2 Earnings and Revenue Estimates

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Downgrades

CTAS

This BP Analyst Is No Longer Bullish; Here Are Top 5 Downgrades For Monday

Altair Engineering Inc. - Class A Common Stock

Altair Engineering Inc

ALTRIA GROUP ORD

Altra Industrial Motion Corp Com

Altri SGPS SA

Altria Group Inc

Altrius Global Dividend ETF

Altair Engineering Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/altr#NASDAQ">ALTR</a>) has entered into a joint development agreement with Oasys, the software house of Arup, to offer an integrated solution for safety simulation modeling.
This collaborative approach will provide access to a combined service platform, comprising Altair HyperWorks and Oasys PRIMER, to the automotive market for offering customers an advanced solution for safety modeling. This amalgamated platform is accessible through the Altair HyperWorks environment, through which engineers will be able to prepare data for crash simulations.
Altair HyperWorks is powered by AI-augmented 3D modeling and visualization tools, along with next-gen design and optimization workflows. This aids the users in effortlessly managing large and complex models, unveiling critical insights, optimizing designs and fostering innovation. On the other hand, the Oasys PRIMER is a top-tier product, used for the preparation and modification of crash safety analysis models.
<h2>Altair HyperWorks Revolutionizing Growth</h2>
Altair officially announced the launch of Altair HyperWorks 2024 on Jul 10, 2024, highlighting it to be the sole platform offering a unified, modern user experience across any geometry, physics and complexity and at every stage of the product development life cycle from design to in-service. The launch of this design and simulation platform solidified the company&#39;s platform status as a leading AI-powered simulation-driven innovator.
Altair is also engaging in various investment opportunities to enhance the HyperWorks platform and foster its growth prospects in the process. In April 2024, the company acquired Research in Flight, which offers computational fluid dynamics software with a large footprint in the aerospace and defense sector and a growing presence in marine, energy, turbomachinery and automotive applications. The technology is being integrated into the Altair HyperWorks design and simulation platform.
<img alt="Zacks Investment Research" src="https://staticx-tuner.zacks.com/images/articles/charts/5a/75090.jpg?v=143642413" />
Image Source: Zacks Investment Research
The company is outpacing the industry, which primarily revolves around AI-embedded workflows, thanks to its continuous approach toward innovation and enhancements of its already available service platforms. Owing to the improving trends, shares of this American multinational information technology company gained 40.6% in the past year, outperforming the Zacks Engineering - R and D Services industry&#39;s 38.5% growth.
<h2>Zacks Rank &amp; Key Picks</h2>
Altair currently carries a Zacks Rank #3 (Hold).
Here are some better-ranked stocks from the Construction sector.
Comfort Systems USA, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/fix#NYSE">FIX</a>) currently sports a Zacks Rank #1 (Strong Buy).
FIX delivered a trailing four-quarter earnings surprise of 20.6%, on average. The stock has risen 88.8% in the past year. The Zacks Consensus Estimate for FIX&#39;s 2024 sales and earnings per share&nbsp;indicates growth of 29.4% and 50.9%, respectively, from the prior-year levels.
M/I Homes, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/mho#NYSE">MHO</a>) currently sports a Zacks Rank of 1. It has a trailing four-quarter earnings surprise of 4.8%, on average. Shares of MHO have gained 65.7% in the past year.
The consensus estimate for MHO&#39;s 2024 sales and EPS implies increases of 9.4% and 20.8%, respectively, from the prior-year levels.
Howmet Aerospace Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/hwm#NYSE">HWM</a>) presently sports a Zacks Rank of 1. HWM delivered a trailing four-quarter earnings surprise of 10.9%, on average. The stock has surged 96.3% in the past year.
The Zacks Consensus Estimate for HWM&#39;s 2024 sales and EPS indicates increases of 12.6% and 39.1%, respectively, from a year ago.
<a href="https://www.zacks.com/stock/news/2325848/altair-altr-oasys-to-offer-enhanced-safety-modeling-solutions?cid=CS-BENZ-FT-analyst_blog|company_news_corporate_actions-2325848">To read this article on Zacks.com click here.</a>

Altair & Oasys to Offer Enhanced Safety Modeling Solutions

<a href="https://c212.net/c/link/?t=0&amp;l=en&amp;o=4236980-1&amp;h=2847270374&amp;u=https%3A%2F%2Fwww.altair.com%2F&amp;a=Altair">Altair</a>&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ALTR#NASDAQ">ALTR</a>) a global leader in computational intelligence, and <a href="https://c212.net/c/link/?t=0&amp;l=en&amp;o=4236980-1&amp;h=2917365169&amp;u=https%3A%2F%2Fwww.oasys-software.com%2Fdyna%2F&amp;a=Oasys">Oasys</a>, the software house of <a href="https://c212.net/c/link/?t=0&amp;l=en&amp;o=4236980-1&amp;h=1429659090&amp;u=https%3A%2F%2Fwww.arup.com%2F&amp;a=Arup">Arup</a>, a global collective of designers, consultants and experts dedicated to sustainable development, announced a joint development agreement to deliver an integrated solution for safety simulation modeling in the automotive market.&nbsp;
&nbsp;
This solution will provide customers with a seamless workflow between <a href="https://c212.net/c/link/?t=0&amp;l=en&amp;o=4236980-1&amp;h=2873911901&amp;u=https%3A%2F%2Faltair.com%2Faltair-hyperworks&amp;a=Altair%C2%AE+HyperWorks%C2%AE">Altair&#xAE; HyperWorks&#xAE;</a>,&nbsp;a world-class design and simulation platform, and <a href="https://c212.net/c/link/?t=0&amp;l=en&amp;o=4236980-1&amp;h=3586949902&amp;u=https%3A%2F%2Fwww.oasys-software.com%2Fdyna%2Fsoftware%2Fprimer%2F&amp;a=Oasys+PRIMER">Oasys PRIMER</a>, a market leading product for the preparation and modification of crash safety analysis models.
Accessible through the Altair HyperWorks environment, engineers will be able to seamlessly utilize the power of the combined platforms to prepare data for simulations.

Altair Teams with Oasys for Integrated Automotive Safety Simulation Solution

Altair Engineering CEO Responds To Matrix Capital Management's Statement, Appreciates Long-Term Support And Commitment To Maintain Full Position

Altair and L&T Technology Services Announced The Establishment Of A Digital Twin Center Of Excellence (COE) To Accelerate Digital Transformation

Goldman Sachs analyst Kash Rangan downgrades Altair Engineering (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ALTR#NASDAQ">ALTR</a>) from Neutral to Sell and lowers the price target from $85 to $71.

Price Target

Goldman Sachs Downgrades Altair Engineering to Sell, Lowers Price Target to $71

Needham analyst Charles Shi reiterates Altair Engineering (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ALTR#NASDAQ">ALTR</a>) with a Buy and maintains $100 price target.

Reiteration

Needham Reiterates Buy on Altair Engineering, Maintains $100 Price Target

Guidance

Altair Cuts FY24 Total Revenue Outlook From $652M - $662M To $648M - $658M, Est $656.35M

Altair Expects Q3 Total Revenue Of $145M - $148M, Est $145.76M

Altair Engineering (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ALTR#NASDAQ">ALTR</a>) reported quarterly earnings of $0.16 per share which beat the analyst consensus estimate of $0.15 by 6.67 percent. This is a 6.67 percent increase over earnings of $0.15 per share from the same period last year. The company reported quarterly sales of $148.795 million which beat the analyst consensus estimate of $146.763 million by 1.38 percent. This is a 5.41 percent increase over sales of $141.161 million the same period last year.

Altair Engineering Q2 2024 Adj. EPS $0.16 Beats $0.15 Estimate, Sales $148.795M Beat $146.763M Estimate

Altair And LG Electronics Vehicle Component Solutions Collaborated To Develop Analysis Solutions Aimed At Extending Product Lifespans

Howmet (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/hwm#NYSE">HWM</a>) came out with quarterly earnings of $0.67 per share, beating the Zacks Consensus Estimate of $0.60 per share. This compares to earnings of $0.44 per share a year ago. These figures are adjusted for non-recurring items.
This quarterly report represents an earnings surprise of 11.67%. A quarter ago, it was expected that this maker of engineered products for the aerospace and other industries would post earnings of $0.52 per share when it actually produced earnings of $0.57, delivering a surprise of 9.62%.
Over the last four quarters, the company has surpassed consensus EPS estimates four times.
Howmet, which belongs to the Zacks Engineering - R and D Services industry, posted revenues of $1.88 billion for the quarter ended June 2024, surpassing the Zacks Consensus Estimate by 2.30%. This compares to year-ago revenues of $1.65 billion. The company has topped consensus revenue estimates four times over the last four quarters.
The sustainability of the stock&#39;s immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management&#39;s commentary on the earnings call.
Howmet shares have added about 53.1% since the beginning of the year versus the S&amp;P 500&#39;s gain of 14.5%.
What&#39;s Next for Howmet?
While Howmet has outperformed the market so far this year, the question that comes to investors&#39; minds is: what&#39;s next for the stock?
There are no easy answers to this key question, but one reliable measure that can help investors address this is the company&#39;s earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.
Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.
Ahead of this earnings release, the estimate revisions trend for Howmet: mixed. While the magnitude and direction of estimate revisions could change following the company&#39;s just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future.
It will be interesting to see how estimates for the coming quarters and current fiscal year change in the days ahead. The current consensus EPS estimate is $0.60 on $1.83 billion in revenues for the coming quarter and $2.39 on $7.34 billion in revenues for the current fiscal year.
Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Engineering - R and D Services is currently in the top 29% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.
One other stock from the same industry, Altair Engineering (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/altr#NASDAQ">ALTR</a>), is yet to report results for the quarter ended June 2024. The results are expected to be released on August 1.
This company is expected to post quarterly earnings of $0.15 per share in its upcoming report, which represents no change from the year-ago quarter. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days.
Altair Engineering&#39;s revenues are expected to be $146.56 million, up 3.8% from the year-ago quarter.
<a href="https://www.zacks.com/stock/news/2311592/howmet-hwm-tops-q2-earnings-and-revenue-estimates?cid=CS-BENZ-FT-tale_of_the_tape|yseop_template_4-2311592">To read this article on Zacks.com click here.</a>

General

Altair Enters Into An MoU With The University Of Nottingham For Aerospace Digital Twin Project Development

Top Wall Street analysts changed their outlook on these top names. For a complete view of all analyst rating changes, including upgrades, downgrades and initiations, please see our <a href="https://www.benzinga.com/analyst-ratings/">analyst ratings page</a>.
<ul>
<li>Morgan Stanley analyst Martijn Rats downgraded the rating for BP p.l.c. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BP#NYSE">BP</a>) from Overweight to Equal-Weight, while lowering the price target from $49.9 to $41.5. BP shares gained 0.4% to close at $35.19 on Friday. <a href="https://www.benzinga.com/quote/BP/analyst-ratings">See how other analysts view this stock.</a></li>
<li>RBC Capital analyst Ashish Sabadra downgraded Cintas Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CTAS#NASDAQ">CTAS</a>) from Outperform to Sector Perform and announced a price target of $725. Cintas shares rose 0.8% to close at $721.76 on Friday. <a href="https://www.benzinga.com/quote/CTAS/analyst-ratings">See how other analysts view this stock.</a></li>
<li>TD Cowen analyst Andrew Kligerman downgraded the rating for The Travelers Companies, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TRV#NYSE">TRV</a>) from Buy to Hold, while cutting the price target from $252 to $230. Travelers shares gained 1.3% to close at $211.60 on Friday. <a href="https://www.benzinga.com/quote/TRV/analyst-ratings">See how other analysts view this stock.</a></li>
<li>JP Morgan analyst Stephen Tusa downgraded Altair Engineering Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ALTR#NASDAQ">ALTR</a>) from Overweight to Neutral and announced a price target of $95. Altair Engineering shares rose 1% to settle at $100.25 on Friday. <a href="https://www.benzinga.com/quote/ALTR/analyst-ratings">See how other analysts view this stock. See how other analysts view this stock.</a></li>
<li>Jefferies analyst Peter Abramowitz downgraded the rating for Armada Hoffler Properties, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AHH#NYSE">AHH</a>) from Buy to Hold and slashed the price target from $13 to $11. Armada Hoffler Properties shares gained 3.2% to close at $11.72 on Friday. <a href="https://www.benzinga.com/quote/AHH/analyst-ratings">See how other analysts view this stock</a>.</li>
</ul>
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</ul>

Ratings for Altair Engineering (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ALTR#NASDAQ">ALTR</a>) were provided by 4 analysts in the past three months, showcasing a mix of bullish and bearish perspectives.
The following table encapsulates their recent ratings, offering a glimpse into the evolving sentiments over the past 30 days and comparing them to the preceding months.
<table>
<thead>
<tr>
<th></th>
<th style="text-align: right;">Bullish</th>
<th style="text-align: right;">Somewhat Bullish</th>
<th style="text-align: right;">Indifferent</th>
<th style="text-align: right;">Somewhat Bearish</th>
<th style="text-align: right;">Bearish</th>
</tr>
</thead>
<tbody>
<tr>
<td>Total Ratings</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">3</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>Last 30D</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>1M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>2M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>3M Ago</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
</tbody>
</table>
In the assessment of 12-month price targets, analysts unveil insights for Altair Engineering, presenting an average target of $92.75, a high estimate of $100.00, and a low estimate of $88.00. This current average has increased by 0.82% from the previous average price target of $92.00. 
<img src="https://www.benzinga.com/files/images/story/2024/1721048460_0.png" alt="price target chart" />
<h2>Decoding Analyst Ratings: A Detailed Look</h2>
The standing of Altair Engineering among financial experts is revealed through an in-depth exploration of recent analyst actions. The summary below outlines key analysts, their recent evaluations, and adjustments to ratings and price targets.
<table>
<thead>
<tr>
<th>Analyst</th>
<th>Analyst Firm</th>
<th>Action Taken</th>
<th>Rating</th>
<th>Current Price Target</th>
<th>Prior Price Target</th>
</tr>
</thead>
<tbody>
<tr>
<td>Stephen Tusa</td>
<td>JP Morgan</td>
<td>Announces</td>
<td>Neutral</td>
<td>$95.00</td>
<td>-</td>
</tr>
<tr>
<td>Charles Shi</td>
<td>Needham</td>
<td>Maintains</td>
<td>Buy</td>
<td>$100.00</td>
<td>$100.00</td>
</tr>
<tr>
<td>Blair Abernethy</td>
<td>Rosenblatt</td>
<td>Maintains</td>
<td>Neutral</td>
<td>$88.00</td>
<td>$88.00</td>
</tr>
<tr>
<td>Blair Abernethy</td>
<td>Rosenblatt</td>
<td>Maintains</td>
<td>Neutral</td>
<td>$88.00</td>
<td>$88.00</td>
</tr>
</tbody>
</table>
<h3>Key Insights:</h3>
<ul>
<li>Action Taken: Analysts frequently update their recommendations based on evolving market conditions and company performance. Whether they 'Maintain', 'Raise' or 'Lower' their stance, it reflects their reaction to recent developments related to Altair Engineering. This information provides a snapshot of how analysts perceive the current state of the company.</li>
<li>Rating: Providing a comprehensive analysis, analysts offer qualitative assessments, ranging from 'Outperform' to 'Underperform'. These ratings reflect expectations for the relative performance of Altair Engineering compared to the broader market.</li>
<li>Price Targets: Gaining insights, analysts provide estimates for the future value of Altair Engineering's stock. This comparison reveals trends in analysts' expectations over time.</li>
</ul>
For valuable insights into Altair Engineering's market performance, consider these analyst evaluations alongside crucial financial indicators. Stay well-informed and make prudent decisions using our Ratings Table.
<a href="https://www.benzinga.com/quote/ALTR/analyst-ratings?utm_source=Benzinga Insights">Stay up to date on Altair Engineering analyst ratings.</a>
<h2>About Altair Engineering</h2>
Altair Engineering Inc is a provider of enterprise-class engineering software enabling origination of the entire product lifecycle from concept design to in-service operation. The integrated suite of software provided by the company optimizes design performance across multiple disciplines encompassing structures, motion, fluids, thermal management, system modeling, and embedded systems. It operates through two segments: Software which includes the portfolio of software products such as solvers and optimization technology products, modeling and visualization tools, industrial and concept design tools, and others; and Client Engineering Services which provides client engineering services to support customers. Majority of its revenue comes from the software segment.
<h3>Unraveling the Financial Story of Altair Engineering</h3>
Market Capitalization Analysis: The company exhibits a lower market capitalization profile, positioning itself below industry averages. This suggests a smaller scale relative to peers.
Revenue Growth: Altair Engineering's remarkable performance in 3 months is evident. As of 31 March, 2024, the company achieved an impressive revenue growth rate of 4.14%. This signifies a substantial increase in the company's top-line earnings. In comparison to its industry peers, the company trails behind with a growth rate lower than the average among peers in the Information Technology sector.
Net Margin: Altair Engineering's net margin is below industry standards, pointing towards difficulties in achieving strong profitability. With a net margin of 9.57%, the company may encounter challenges in effective cost control.
Return on Equity (ROE): The company's ROE is a standout performer, exceeding industry averages. With an impressive ROE of 2.24%, the company showcases effective utilization of equity capital.
Return on Assets (ROA): Altair Engineering's ROA is below industry standards, pointing towards difficulties in efficiently utilizing assets. With an ROA of 1.21%, the company may encounter challenges in delivering satisfactory returns from its assets.
Debt Management: Altair Engineering's debt-to-equity ratio surpasses industry norms, standing at 0.44. This suggests the company carries a substantial amount of debt, posing potential financial challenges.
<h2>What Are Analyst Ratings?</h2>
Analysts are specialists within banking and financial systems that typically report for specific stocks or within defined sectors. These people research company financial statements, sit in conference calls and meetings, and speak with relevant insiders to determine what are known as analyst ratings for stocks. Typically, analysts will rate each stock once a quarter. 
Some analysts publish their predictions for metrics such as growth estimates, earnings, and revenue to provide additional guidance with their ratings. When using analyst ratings, it is important to keep in mind that stock and sector analysts are also human and are only offering their opinions to investors.
If you want to keep track of which analysts are outperforming others, you can view updated analyst ratings along withanalyst success scores in <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a>.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

4 Analysts Have This To Say About Altair Engineering

JP Morgan analyst Stephen Tusa downgrades Altair Engineering (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ALTR#NASDAQ">ALTR</a>) from Overweight to Neutral and announces $95 price target.

JP Morgan Downgrades Altair Engineering to Neutral, Announces $95 Price Target

Altair&#39;s&nbsp;EDA solutions enable verification from semiconductor design to production in one place, addressing various design requirements
Through this collaboration,&nbsp;Altair&nbsp;and Samsung Electronics will combine&nbsp;<a href="https://c212.net/c/link/?t=0&amp;l=en&amp;o=4206868-1&amp;h=255884851&amp;u=https%3A%2F%2Faltair.com%2Fsemiconductors&amp;a=Altair%27s+comprehensive+EDA+technology" target="_blank">Altair&#39;s&nbsp;comprehensive EDA technology</a>&nbsp;with Samsung Foundry&#39;s manufacturing capabilities to establish a more innovative, more efficient semiconductor design and production process.&nbsp;

Altair Selected As Electronic Design Automation Partner For Samsung Advanced Foundry Ecosystem

Quanta Services, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/pwr#NYSE">PWR</a>) is capitalizing on strong demand for its services, driven by multi-year customer initiatives focused on modernizing and strengthening utility infrastructure, expanding renewable energy generation and transmission infrastructure, and shifting toward a low-carbon economy.
Quanta stock has gained 18% so far this year, outperforming the Zacks Engineering - R and D Services industry&#39;s 17.2% growth. This Zacks Rank #3 (Hold) stock is also expected to gain from prudent growth strategies and accretive acquisitions.
<img alt="Zacks Investment Research" src="https://staticx-tuner.zacks.com/images/articles/charts/f3/70354.jpg?v=1762561956" />
Image Source: Zacks Investment Research
Yet, the cyclical nature of the business, oil &amp; gas volatility and regulatory issues are headwinds.
Nonetheless, the company&#39;s earnings per share estimate for 2024 and 2025 has moved north in the past 60 days to $8.44 and $9.56 per share from $8.42 and $9.52 per share. The estimated figure reflects a growth rate of 17.9% and 13.2% year over year, respectively.
The growth prospect is further solidified with a VGM Score of B, led by a Growth Score of A and a Momentum Score of A. The positive trend signifies bullish analysts&#39; sentiments, robust fundamentals and prospects of an outperformance in the near term.
Let&#39;s take a look at the factors supporting the growth.
High Infrastructural Demand: Quanta is capitalizing on robust infrastructural demand by leading advancements in technology solutions across decarbonization. This includes carbon management, mitigation strategies, compliance consulting, and building essential infrastructure for carbon-neutral energy solutions. Positioned strategically, Quanta is set to harness major industry trends, playing a pivotal role in the energy transition and driving technological innovation forward. Key initiatives such as expanding electric vehicle charging networks and underground electrical installations are gaining momentum, driving Quanta&#39;s impressive growth trajectory.
Strategic Growth Approach: Quanta is executing a comprehensive growth strategy comprised of three key components. Firstly, the company prioritizes delivering projects promptly, surpassing customer expectations. Secondly, it aims to leverage its core business strengths to extend into complementary adjacent service lines. Thirdly, Quanta remains committed to exploring and integrating new service offerings. With its robust engineering and project management capabilities, the company is well-positioned to seize opportunities in a market landscape currently favoring an engineering, procurement, and construction model.
As a result, Quanta envisions delivering a 10% organic adjusted EPS compound annual growth rate (CAGR) and more than 15% adjusted EPS CAGR through 2026.
Solid Backlog Level: The company ended first-quarter 2024 with a total record backlog of $29.9 billion and a 12-month backlog of $16.64 billion. This compares favorably with first-quarter 2023 total backlog of $25.27 billion and a 12-month backlog of $14.63 billion. Quanta&#39;s optimism stems from healthy backlog levels, which are expected to grow further. This demonstrates the strength of its core operations.
<h3>Factors Hindering Growth</h3>
Business Cyclicality: The business exhibits a cyclical nature as the demand for Quanta&#39;s services is subject to fluctuations. Consequently, the company is particularly susceptible to declines in both government and private industrial expenditures. Throughout its history, fluctuations in commodity prices have affected not only the oil and gas sector but also regions where economic stability is significantly tied to commodity prices.
Challenges in Regulation: Quanta navigates a complex regulatory landscape characterized by stringent requirements for project development. Both the company and its clientele encounter obstacles related to product standards, safety protocols, and environmental safeguards.
<h3>Key Picks</h3>
Some better-ranked stocks in the Zacks Construction sector are:
Sterling Infrastructure, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/strl#NASDAQ">STRL</a>) currently has a Zacks Rank #2 (Buy). STRL delivered a trailing four-quarter earnings surprise of 22.3%, on average. Shares of STRL have gained 32.5% year to date (YTD).
The Zacks Consensus Estimate for STRL&#39;s 2024 EPS indicates growth of 18.6% from the previous year&#39;s reported levels.
Willdan Group, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/wldn#NASDAQ">WLDN</a>) currently carries a Zacks Rank #2. WLDN delivered a trailing four-quarter earnings surprise of 88.9%, on average. Shares of WLDN have gained 36.6% YTD.
The Zacks Consensus Estimate for WLDN&#39;s 2024 sales and EPS indicates growth of 3.6% and 6.3%, respectively, from the previous year&#39;s reported levels.
Altair Engineering Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/altr#NASDAQ">ALTR</a>) currently has a Zacks Rank #2. ALTR delivered a trailing four-quarter earnings surprise of 104.5%, on average. Shares of ALTR have gained 16.6% YTD.
The Zacks Consensus Estimate for ALTR&#39;s 2024 sales and EPS indicates growth of 7% and 9.7%, respectively, from the previous year&#39;s reported levels.
<a href="https://www.zacks.com/stock/news/2297044/push-for-low-carbon-economy-aids-quanta-pwr-amid-volatility?cid=CS-BENZ-FT-analyst_blog|rank_focused-2297044">To read this article on Zacks.com click here.</a>

Small Cap

STRL

WLDN

Push for Low-Carbon Economy Aids Quanta Amid Volatility

Metrics is a Canadian company with a game changing simulation as a service (SaaS) business model for semiconductor electronic functional simulation and design verification.

Altair To Acquire All Outstanding Capital Stock Of Metrics Design Automation; No Terms Disclosed

Making a noteworthy insider sell on June 28, Christ Revocable Trust, 10% Owner at Altair Engineering (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ALTR#NASDAQ">ALTR</a>), is reported in the latest SEC filing.
What Happened: Trust's recent Form 4 filing with the <a href="https://www.sec.gov/Archives/edgar/data/0001701732/000112760224019344//Archives/edgar/data/1701732/000112760224019344/0001127602-24-019344-index.htm">U.S. Securities and Exchange Commission</a> on Friday unveiled the sale of 100,000 shares of Altair Engineering. The total transaction value is $9,839,631.
Altair Engineering's shares are actively trading at $98.59, experiencing a up of 0.74% during Friday's morning session.
<h3>All You Need to Know About Altair Engineering</h3>
Altair Engineering Inc is a provider of enterprise-class engineering software enabling origination of the entire product lifecycle from concept design to in-service operation. The integrated suite of software provided by the company optimizes design performance across multiple disciplines encompassing structures, motion, fluids, thermal management, system modeling, and embedded systems. It operates through two segments: Software which includes the portfolio of software products such as solvers and optimization technology products, modeling and visualization tools, industrial and concept design tools, and others; and Client Engineering Services which provides client engineering services to support customers. Majority of its revenue comes from the software segment.
<h3>Key Indicators: Altair Engineering's Financial Health</h3>
Revenue Growth: Altair Engineering's revenue growth over a period of 3 months has been noteworthy. As of 31 March, 2024, the company achieved a revenue growth rate of approximately 4.14%. This indicates a substantial increase in the company's top-line earnings. As compared to competitors, the company encountered difficulties, with a growth rate lower than the average among peers in the Information Technology sector.
Navigating Financial Profits:
<ul>
<li>
Gross Margin: Achieving a high gross margin of 82.13%, the company performs well in terms of cost management and profitability within its sector.
</li>
<li>
Earnings per Share (EPS): Altair Engineering's EPS is below the industry average. The company faced challenges with a current EPS of 0.2. This suggests a potential decline in earnings.
</li>
</ul>
Debt Management: Altair Engineering's debt-to-equity ratio is below the industry average. With a ratio of 0.44, the company relies less on debt financing, maintaining a healthier balance between debt and equity, which can be viewed positively by investors.
Market Valuation:
<ul>
<li>
Price to Earnings (P/E) Ratio: The current Price to Earnings ratio of 889.73 is higher than the industry average, indicating the stock is priced at a premium level according to the market sentiment.
</li>
<li>
Price to Sales (P/S) Ratio: The current P/S ratio of 13.11 is above industry norms, reflecting an elevated valuation for Altair Engineering's stock and potential overvaluation based on sales performance.
</li>
<li>
EV/EBITDA Analysis (Enterprise Value to its Earnings Before Interest, Taxes, Depreciation &amp; Amortization): Altair Engineering's EV/EBITDA ratio stands at 107.12, surpassing industry benchmarks. This places the company in a position with a higher-than-average market valuation.
</li>
</ul>
Market Capitalization Analysis: The company exhibits a lower market capitalization profile, positioning itself below industry averages. This suggests a smaller scale relative to peers.
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<h3>Delving Into the Significance of Insider Transactions</h3>
Considering insider transactions is valuable, but it's crucial to evaluate them in conjunction with other investment factors.
In the realm of legality, an "insider" is defined as any officer, director, or beneficial owner holding more than ten percent of a company's equity securities under Section 12 of the Securities Exchange Act of 1934. This includes executives in the c-suite and major hedge funds. These insiders are required to disclose their transactions through a Form 4 filing, to be submitted within two business days of the transaction.
Notably, when a company insider makes a new purchase, it is considered an indicator of their positive expectations for the stock.
Conversely, insider sells may not necessarily signal a bearish stance on the stock and can be motivated by various factors.
<h3>Navigating the World of Insider Transaction Codes</h3>
Delving into transactions, <a href="https://www.benzinga.com/money/investing-tools">investors</a> typically prioritize those unfolding in the open market, as precisely outlined in Table I of the Form 4 filing. A P in Box 3 indicates a purchase, while S signifies a sale. Transaction code C signals the conversion of an option, and transaction code A denotes a grant, award, or other acquisition of securities from the company.
<a href="https://www.benzinga.com/sec/insider-trades/search/index?company_cik=0001701732">Check Out The Full List Of Altair Engineering's Insider Trades.</a>
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Insider Trades

Insider Unloading: Christ Revocable Trust Sells $9.84M Worth Of Altair Engineering Shares

George J Christ, 10% Owner at Altair Engineering (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ALTR#NASDAQ">ALTR</a>), executed a substantial insider sell on June 28, according to an SEC filing.
What Happened: After conducting a thorough analysis, Christ sold 100,000 shares of Altair Engineering. This information was disclosed in a Form 4 filing with the <a href="https://www.sec.gov/Archives/edgar/data/0001701732/000112760224019346//Archives/edgar/data/1701732/000112760224019346/0001127602-24-019346-index.htm">U.S. Securities and Exchange Commission</a> on Friday. The total transaction value is $9,839,631.
Altair Engineering's shares are actively trading at $98.59, experiencing a up of 0.74% during Friday's morning session.
<h3>All You Need to Know About Altair Engineering</h3>
Altair Engineering Inc is a provider of enterprise-class engineering software enabling origination of the entire product lifecycle from concept design to in-service operation. The integrated suite of software provided by the company optimizes design performance across multiple disciplines encompassing structures, motion, fluids, thermal management, system modeling, and embedded systems. It operates through two segments: Software which includes the portfolio of software products such as solvers and optimization technology products, modeling and visualization tools, industrial and concept design tools, and others; and Client Engineering Services which provides client engineering services to support customers. Majority of its revenue comes from the software segment.
<h3>Altair Engineering's Economic Impact: An Analysis</h3>
Revenue Growth: Altair Engineering displayed positive results in 3 months. As of 31 March, 2024, the company achieved a solid revenue growth rate of approximately 4.14%. This indicates a notable increase in the company's top-line earnings. In comparison to its industry peers, the company trails behind with a growth rate lower than the average among peers in the Information Technology sector.
Profitability Metrics:
<ul>
<li>
Gross Margin: The company maintains a high gross margin of 82.13%, indicating strong cost management and profitability compared to its peers.
</li>
<li>
Earnings per Share (EPS): Altair Engineering's EPS is below the industry average, signaling challenges in bottom-line performance with a current EPS of 0.2.
</li>
</ul>
Debt Management: Altair Engineering's debt-to-equity ratio is below industry norms, indicating a sound financial structure with a ratio of 0.44.
Financial Valuation Breakdown:
<ul>
<li>
Price to Earnings (P/E) Ratio: A higher-than-average P/E ratio of 889.73 suggests caution, as the stock may be overvalued in the eyes of investors.
</li>
<li>
Price to Sales (P/S) Ratio: With a higher-than-average P/S ratio of 13.11, Altair Engineering's stock is perceived as being overvalued in the market, particularly in relation to sales performance.
</li>
<li>
EV/EBITDA Analysis (Enterprise Value to its Earnings Before Interest, Taxes, Depreciation &amp; Amortization): Boasting an EV/EBITDA ratio of 107.12, Altair Engineering demonstrates a robust market valuation, outperforming industry benchmarks.
</li>
</ul>
Market Capitalization: Indicating a reduced size compared to industry averages, the company's market capitalization poses unique challenges.
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<h3>Why Insider Activity Matters in Finance</h3>
Emphasizing the importance of a comprehensive approach, considering insider transactions is valuable, but it's crucial to evaluate them in conjunction with other investment factors.
Within the legal framework, an "insider" is defined as any officer, director, or beneficial owner holding more than ten percent of a company's equity securities as per Section 12 of the Securities Exchange Act of 1934. This includes executives in the c-suite and major hedge funds. These insiders are mandated to disclose their transactions through a Form 4 filing, to be submitted within two business days of the transaction.
The initiation of a new purchase by a company insider serves as a strong indication that they expect the stock to rise.
However, insider sells may not always signal a bearish view and can be influenced by various factors.
<h3>Unlocking the Meaning of Transaction Codes</h3>
Delving into transactions, <a href="https://www.benzinga.com/money/investing-tools">investors</a> typically prioritize those unfolding in the open market, as precisely outlined in Table I of the Form 4 filing. A P in Box 3 indicates a purchase, while S signifies a sale. Transaction code C signals the conversion of an option, and transaction code A denotes a grant, award, or other acquisition of securities from the company.
<a href="https://www.benzinga.com/sec/insider-trades/search/index?company_cik=0001701732">Check Out The Full List Of Altair Engineering's Insider Trades.</a>
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Massive Insider Trade At Altair Engineering

<a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a>
Altair Engineering (NASDAQ:<a href="https://investorplace.com/stock-quotes/altr-stock-quote/">ALTR</a>) just reported results for the second quarter of 2024.<ul><li>Altair Engineering reported earnings per share of 16 cents. This was above the analyst estimate for EPS of 15 cents.</li><li>The company reported revenue of $148.80 million.</li><li>This was 1.39% better than the analyst estimate for revenue of $146.76 million.</li></ul><div>InvestorPlace Earnings is a project that leverages data from <a href="https://www.tradesmith.com">TradeSmith</a> to automate coverage of quarterly earnings reports. InvestorPlace Earnings distills key takeaways including earnings per share and revenue, as well as how a company stacks up to analyst estimates. These articles are published without human intervention, allowing us to inform our readers of the latest figures as quickly as possible. To report any concerns or inaccuracies, please contact us at <a href="mailto:editor@investorplace.com">editor@investorplace.com</a>.</div><h3>More From InvestorPlace</h3>
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									</ul>The post <a href="https://investorplace.com/earning-results/2024/08/altr-stock-earnings-altair-engineering-for-q2-of-2024/">ALTR Stock Earnings: Altair Engineering Beats EPS, Beats Revenue for Q2 2024</a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.

ALTR Stock Earnings: Altair Engineering Beats EPS, Beats Revenue for Q2 2024

In a report released today, Dylan Becker from William Blair maintained a Buy rating on Altair Engineering (ALTR – Research Report). The company's s...

Altair Engineering (ALTR) Receives a Buy from William Blair

Altair Engineering (ALTR – Research Report), the Technology sector company, was revisited by a Wall Street analyst today. Analyst Charles Shi from ...

Maintaining Buy Rating on Altair Engineering: A Balanced Outlook Amidst Sector-Specific Strengths and Steady Growth

Oppenheimer analyst Kenneth Wong maintained a Buy rating on Altair Engineering (ALTR – Research Report) today and set a price target of $100.00. Th...

Oppenheimer Sticks to Its Buy Rating for Altair Engineering (ALTR)

Baron Growth Fund Q2 2024 Shareholder Letter

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