Altair Engineering Inc. (ALTR) Outpaces Stock Market Gains: What You Should Know
Zacks Investment Research | Jul 26, 2019 05:50AM ET
In the latest trading session, Altair Engineering Inc. (ALTR) closed at $42.87, marking a +0.8% move from the previous day. This change outpaced the S&P 500's 0.74% gain on the day. At the same time, the Dow added 0.19%, and the tech-heavy Nasdaq gained 1.11%.
Coming into today, shares of the company had gained 5.8% in the past month. In that same time, the Construction sector gained 3.27%, while the S&P 500 gained 3.18%.
Investors will be hoping for strength from ALTR as it approaches its next earnings release. The company is expected to report EPS of $0.08, up 60% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $107.95 million, up 12.95% from the year-ago period.
ALTR's full-year Zacks Consensus Estimates are calling for earnings of $0.63 per share and revenue of $475.27 million. These results would represent year-over-year changes of +53.66% and +23.71%, respectively.
Any recent changes to analyst estimates for ALTR should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. ALTR is holding a Zacks Rank of #3 (Hold) right now.
Looking at its valuation, ALTR is holding a Forward P/E ratio of 67.51. This represents a premium compared to its industry's average Forward P/E of 15.57.
The Engineering - R and D Services industry is part of the Construction sector. This industry currently has a Zacks Industry Rank of 232, which puts it in the bottom 10% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks. Com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
Original post
Get The News You Want
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.