Red Hat (NYSE:RHT)‘s stock had its “buy” rating reiterated by investment analysts at Cowen in a research note issued to investors on Monday, December 11th. They presently have a $136.00 target price on the open-source software company’s stock. Cowen’s price objective indicates a potential upside of 12.36% from the company’s previous close.
A number of other analysts also recently commented on the stock. Bank of America reiterated an “underperform” rating and issued a $115.00 price objective on shares of Red Hat in a report on Tuesday, October 24th. Credit Suisse Group started coverage on shares of Red Hat in a report on Tuesday, September 5th. They issued a “neutral” rating and a $111.00 price objective for the company. Piper Jaffray Companies reiterated a “hold” rating and issued a $100.00 price objective on shares of Red Hat in a report on Sunday, August 27th. Moffett Nathanson started coverage on shares of Red Hat in a report on Wednesday, September 6th. They issued a “buy” rating for the company. Finally, KeyCorp reiterated an “overweight” rating and issued a $121.00 price objective on shares of Red Hat in a report on Friday, September 8th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and twenty-two have given a buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $124.25.
Red Hat (NYSE RHT) traded up $0.94 during mid-day trading on Monday, reaching $121.04. 2,360,459 shares of the company’s stock were exchanged, compared to its average volume of 1,780,000. The firm has a market cap of $21,420.00, a P/E ratio of 65.78, a price-to-earnings-growth ratio of 3.67 and a beta of 1.19. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.30 and a current ratio of 1.37. Red Hat has a 12 month low of $68.95 and a 12 month high of $130.93.
Red Hat (NYSE:RHT) last released its quarterly earnings data on Tuesday, December 19th. The open-source software company reported $0.73 EPS for the quarter, beating the Zacks’ consensus estimate of $0.70 by $0.03. The company had revenue of $747.98 million during the quarter, compared to the consensus estimate of $734.69 million. Red Hat had a net margin of 12.14% and a return on equity of 26.23%. Red Hat’s quarterly revenue was up 21.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.61 EPS. analysts anticipate that Red Hat will post 2.08 earnings per share for the current year.
In related news, insider Michael A. Kelly sold 2,888 shares of Red Hat stock in a transaction that occurred on Wednesday, October 18th. The shares were sold at an average price of $121.03, for a total value of $349,534.64. Following the completion of the sale, the insider now owns 8,751 shares in the company, valued at approximately $1,059,133.53. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO James M. Whitehurst sold 4,211 shares of Red Hat stock in a transaction that occurred on Tuesday, October 17th. The shares were sold at an average price of $120.36, for a total transaction of $506,835.96. Following the completion of the sale, the chief executive officer now owns 380,158 shares of the company’s stock, valued at approximately $45,755,816.88. The disclosure for this sale can be found here. Insiders sold a total of 22,172 shares of company stock valued at $2,592,577 in the last quarter. 0.66% of the stock is owned by insiders.
Institutional investors have recently bought and sold shares of the stock. D.A. Davidson & CO. increased its holdings in Red Hat by 6.8% in the 2nd quarter. D.A. Davidson & CO. now owns 1,071 shares of the open-source software company’s stock valued at $102,000 after purchasing an additional 68 shares during the last quarter. Clear Perspective Advisors LLC acquired a new stake in Red Hat in the 2nd quarter valued at approximately $112,000. Sun Life Financial INC increased its holdings in Red Hat by 14,837.5% in the 2nd quarter. Sun Life Financial INC now owns 1,195 shares of the open-source software company’s stock valued at $114,000 after purchasing an additional 1,187 shares during the last quarter. BB&T Investment Services Inc. acquired a new stake in Red Hat in the 2nd quarter valued at approximately $135,000. Finally, Global X Management Co. LLC increased its holdings in Red Hat by 91.3% in the 2nd quarter. Global X Management Co. LLC now owns 1,542 shares of the open-source software company’s stock valued at $148,000 after purchasing an additional 736 shares during the last quarter. Hedge funds and other institutional investors own 93.57% of the company’s stock.
Red Hat Company Profile
Red Hat, Inc (Red Hat) provides open source software solutions, using a community-powered approach to develop and offer operating system, virtualization, management, middleware, cloud, mobile and storage technologies. Red Hat operates through three geographical segments: the Americas, including the United States, Canada and Latin America; EMEA, including Europe, Middle East and Africa, and Asia Pacific.
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