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.
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