Altair Engineering Inc. ALTR has announced its involvement in the £5.8 million Performance Integrated Vehicle Optimization Technology (PIVOT) project. Supported by Innovate UK and the Advanced Propulsion Centre (APC), the initiative aims to revolutionize vehicle manufacturing through the development of lighter and more sustainable components, leveraging Altair's advanced artificial intelligence (AI) and simulation technology.
Led by Sarginsons Industries, PIVOT brings together industry leaders such as Aston Martin, Brunel University London, and GESCRAP to design cast aluminum structures that are 30% lighter without sacrificing performance. Altair’s AI-driven software will combine casting simulation, topology optimization, and AI, enabling efficient component design that balances weight, strength, and manufacturability.
PIVOT is set to deliver key breakthroughs in sustainable automotive manufacturing, showcasing how AI, recycled materials, and cutting-edge casting techniques can transform the industry for a greener future.
The project aims to reduce carbon emissions in-vehicle components by 95%, using 100% recycled aluminum with advanced grain refinement techniques.
Altair’s Stock Performance
Altair’s stock has gained 4.4% in a month compared with the Zacks Engineering - R and D Services industry’s 3.4% growth.
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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. Altair’s products, services and business models have been driving market share growth. The company emphasizes enhancing operational efficiency through strategic acquisitions and partnerships.
Recently, it announced Crown Point Technologies as its official reseller for the United States and Europe. Crown Point Technologies, known for its expertise in these industries, will leverage its deep industry knowledge and strong customer relationships to drive the adoption of Altair's AI and data visualization tools.
ALTR’s Zacks Rank & Key Picks
Currently, Altair carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the same space are:
Sterling Infrastructure, Inc. STRL presently sports a Zacks Rank #1 (Strong Buy). Sterling Infrastructure has a trailing four-quarter earnings surprise of 17.4%, on average. You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for STRL’s 2024 sales and earnings per share (EPS) indicates a rise of 9.7% and 26.6%, respectively, from the prior-year levels.
Howmet Aerospace Inc. HWM presently carries a Zacks Rank #2 (Buy). HWM has a trailing four-quarter earnings surprise of 10.9%, on average.
The Zacks Consensus Estimate for HWM’s 2024 sales and EPS indicates a rise of 12.6% and 40.8%, respectively, from the prior-year levels.
M-tron Industries, Inc. MPTI currently carries a Zacks Rank #2. It has topped earnings estimates in three of the trailing four quarters and missed once, with an average surprise of 9.2%.
The Zacks Consensus Estimate for MPTI’s 2024 sales and EPS indicates a rise of 16.1% and 76.6%, respectively, from prior-year levels.
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