Shares of Red Hat Inc (NYSE:RHT) have been assigned a consensus rating of “Hold” from the thirty-one brokerages that are presently covering the company, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, sixteen have given a hold recommendation, twelve have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $163.16.
A number of brokerages have issued reports on RHT. Credit Suisse Group set a $190.00 target price on shares of Red Hat and gave the stock a “hold” rating in a report on Monday, October 29th. Northland Securities cut shares of Red Hat from an “outperform” rating to a “market perform” rating in a report on Monday, October 29th. Needham & Company LLC cut shares of Red Hat from a “buy” rating to a “hold” rating in a report on Monday, November 5th. Royal Bank of Canada raised their target price on shares of Red Hat to $190.00 in a report on Monday, October 29th. Finally, ValuEngine raised shares of Red Hat from a “buy” rating to a “strong-buy” rating in a report on Monday, October 29th.
In other news, EVP Delisa Alexander sold 960 shares of Red Hat stock in a transaction that occurred on Wednesday, October 17th. The stock was sold at an average price of $125.03, for a total transaction of $120,028.80. Following the sale, the executive vice president now owns 33,217 shares of the company’s stock, valued at $4,153,121.51. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO James M. Whitehurst sold 2,513 shares of Red Hat stock in a transaction that occurred on Wednesday, October 17th. The shares were sold at an average price of $125.03, for a total value of $314,200.39. Following the sale, the chief executive officer now directly owns 361,627 shares in the company, valued at approximately $45,214,223.81. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 3,631 shares of company stock worth $453,984. Corporate insiders own 0.58% of the company’s stock.
Large investors have recently made changes to their positions in the stock. Migdal Insurance & Financial Holdings Ltd. raised its holdings in Red Hat by 16,350.0% during the second quarter. Migdal Insurance & Financial Holdings Ltd. now owns 987 shares of the open-source software company’s stock worth $133,000 after purchasing an additional 981 shares in the last quarter. Quad Cities Investment Group LLC bought a new stake in Red Hat during the second quarter worth approximately $134,000. Financial Architects Inc raised its holdings in Red Hat by 95.2% during the second quarter. Financial Architects Inc now owns 1,025 shares of the open-source software company’s stock worth $137,000 after purchasing an additional 500 shares in the last quarter. Truvestments Capital LLC bought a new stake in Red Hat during the third quarter worth approximately $138,000. Finally, Stratos Wealth Partners LTD. bought a new stake in Red Hat during the third quarter worth approximately $146,000. 96.99% of the stock is currently owned by hedge funds and other institutional investors.
NYSE:RHT traded down $0.33 during mid-day trading on Monday, reaching $177.52. The stock had a trading volume of 1,024,838 shares, compared to its average volume of 2,284,827. The company has a market capitalization of $31.30 billion, a price-to-earnings ratio of 77.18, a price-to-earnings-growth ratio of 4.62 and a beta of 0.70. Red Hat has a 1-year low of $115.31 and a 1-year high of $179.49. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.23 and a current ratio of 1.23.
Red Hat (NYSE:RHT) last issued its earnings results on Wednesday, September 19th. The open-source software company reported $0.85 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.82 by $0.03. Red Hat had a net margin of 9.15% and a return on equity of 31.80%. The firm had revenue of $822.75 million for the quarter, compared to analysts’ expectations of $828.12 million. During the same quarter last year, the company posted $0.77 earnings per share. Red Hat’s revenue was up 13.7% on a year-over-year basis. On average, equities research analysts forecast that Red Hat will post 2.57 EPS for the current fiscal year.
About Red Hat
Red Hat, Inc provides open source software solutions to develop and offer operating system, virtualization, management, middleware, cloud, mobile, and storage technologies to various enterprises worldwide. It offers infrastructure-related solutions, such as Red Hat Enterprise Linux, an operating system platform that runs on hardware for use in hybrid cloud environments; Red Hat Satellite, a system management offering that helps to deploy, scale, and manage in hybrid cloud environments; and Red Hat Enterprise Virtualization, a software solution that allows customers to utilize and manage a common hardware infrastructure to run multiple operating systems and applications.
Read More: Leveraged Buyout (LBO)
Receive News & Ratings for Red Hat Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Red Hat and related companies with MarketBeat.com's FREE daily email newsletter.