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Altair Engineering Inc. (ALTR - Free Report) has acquired one of the leading providers of electronic system visualization software — Concept Engineering — for an undisclosed amount. This buyout will help Altair to offer its customers wide-ranging visual representations of complex system models and debug capabilities for electronic systems.
Concept Engineering provides automatic schematic generation tools, electronic circuit and wire harness visualization platforms, and electronic design debug tools. Its electronic system visualization and semiconductor design debug technology is available standalone and is integrated into more than 40 OEM design automation (“EDA”) and CAD tools. Concept Engineering has customers in three primary market segments: semiconductor design; EDA and CAD tool development; and industries with complex electrical systems.
The software of Concept Engineering will be combined into Altair's Electronic System Design suite and available via Altair’s Units. It will offer customers an easy access to Altair's entire portfolio of software solutions.
Product Expansion: a Boon
Altair’s products, services and business models have been driving market share growth. ALTR continues to evolve its product portfolio with a combination of sustaining and disruptive innovations. During the three months ended Mar 31, 2022, the company completed two business acquisitions. Software product revenues were $140.9 million, up 8.8% from $129.5 million a year ago.
Image Source: Zacks Investment Research
Coming to share price performance, Altair Engineering has lost 35.4% year to date, against the Zacks Engineering - R and D Services industry’s 6.9% decline. Nonetheless, earnings estimates for 2022 have moved up over the past 90 days from 73 cents to 79 cents per share, depicting analysts’ optimism regarding its bottom-line growth potential. The company is benefiting from strong customer demand across all its verticals, regions, and products, reflecting year-over-year revenue growth.
Better-ranked stocks, which warrant a look in the Construction sector, include Simpson Manufacturing Co., Inc. (SSD - Free Report) , Beazer Homes USA (BZH - Free Report) and AECOM (ACM - Free Report) .
Simpson Manufacturing — currently carrying a Zacks Rank #1 — designs, engineers, manufactures and sells wood and concrete construction products.
SSD’s expected earnings growth rate for 2022 is 18.1%. The Zacks Consensus Estimate for current-year earnings has improved 11.6% over the past 60 days.
Beazer Homes — carrying a Zacks Rank #2 (Buy) — designs, builds and sells single-family homes. BZH designs homes to appeal primarily to entry-level and first move-up homebuyers. Beazer Homes USA’s objective is to provide customers with homes that have quality and value. BZH’s subsidiary, Beazer Mortgage, originates the mortgages for the company's homebuyers.
Beazer Homes’ expected earnings growth rate for fiscal 2022 is 48.9%. The Zacks Consensus Estimate for current-year earnings has improved 14.6% over the past 60 days.
AECOM — currently carrying a Zacks Rank #2 — is a leading solutions provider for supporting professional, technical and management solutions for diverse industries across end markets like transportation, facilities, government as well as those in environmental, energy and water businesses.
AECOM’s expected earnings growth rate for 2022 is 21.6%.
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Altair (ALTR) Acquires Concept Engineering, Expands Reach
Altair Engineering Inc. (ALTR - Free Report) has acquired one of the leading providers of electronic system visualization software — Concept Engineering — for an undisclosed amount. This buyout will help Altair to offer its customers wide-ranging visual representations of complex system models and debug capabilities for electronic systems.
Concept Engineering provides automatic schematic generation tools, electronic circuit and wire harness visualization platforms, and electronic design debug tools. Its electronic system visualization and semiconductor design debug technology is available standalone and is integrated into more than 40 OEM design automation (“EDA”) and CAD tools. Concept Engineering has customers in three primary market segments: semiconductor design; EDA and CAD tool development; and industries with complex electrical systems.
The software of Concept Engineering will be combined into Altair's Electronic System Design suite and available via Altair’s Units. It will offer customers an easy access to Altair's entire portfolio of software solutions.
Product Expansion: a Boon
Altair’s products, services and business models have been driving market share growth. ALTR continues to evolve its product portfolio with a combination of sustaining and disruptive innovations. During the three months ended Mar 31, 2022, the company completed two business acquisitions. Software product revenues were $140.9 million, up 8.8% from $129.5 million a year ago.
Image Source: Zacks Investment Research
Coming to share price performance, Altair Engineering has lost 35.4% year to date, against the Zacks Engineering - R and D Services industry’s 6.9% decline. Nonetheless, earnings estimates for 2022 have moved up over the past 90 days from 73 cents to 79 cents per share, depicting analysts’ optimism regarding its bottom-line growth potential. The company is benefiting from strong customer demand across all its verticals, regions, and products, reflecting year-over-year revenue growth.
Zacks Rank
Altair currently carries a Zacks Rank #3 (Hold) You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
3 Construction Stocks to Buy Now
Better-ranked stocks, which warrant a look in the Construction sector, include Simpson Manufacturing Co., Inc. (SSD - Free Report) , Beazer Homes USA (BZH - Free Report) and AECOM (ACM - Free Report) .
Simpson Manufacturing — currently carrying a Zacks Rank #1 — designs, engineers, manufactures and sells wood and concrete construction products.
SSD’s expected earnings growth rate for 2022 is 18.1%. The Zacks Consensus Estimate for current-year earnings has improved 11.6% over the past 60 days.
Beazer Homes — carrying a Zacks Rank #2 (Buy) — designs, builds and sells single-family homes. BZH designs homes to appeal primarily to entry-level and first move-up homebuyers. Beazer Homes USA’s objective is to provide customers with homes that have quality and value. BZH’s subsidiary, Beazer Mortgage, originates the mortgages for the company's homebuyers.
Beazer Homes’ expected earnings growth rate for fiscal 2022 is 48.9%. The Zacks Consensus Estimate for current-year earnings has improved 14.6% over the past 60 days.
AECOM — currently carrying a Zacks Rank #2 — is a leading solutions provider for supporting professional, technical and management solutions for diverse industries across end markets like transportation, facilities, government as well as those in environmental, energy and water businesses.
AECOM’s expected earnings growth rate for 2022 is 21.6%.