Media coverage about Red Hat (NYSE:RHT) has been trending positive on Saturday, according to Accern. The research firm ranks the sentiment of media coverage by reviewing more than 20 million news and blog sources in real time. Accern ranks coverage of public companies on a scale of negative one to one, with scores closest to one being the most favorable. Red Hat earned a media sentiment score of 0.33 on Accern’s scale. Accern also gave news coverage about the open-source software company an impact score of 46.9963919339747 out of 100, indicating that recent media coverage is somewhat unlikely to have an impact on the stock’s share price in the near future.
Here are some of the media stories that may have impacted Accern’s rankings:
RHT has been the subject of several research analyst reports. Zacks Investment Research lowered shares of Red Hat from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 22nd. Credit Suisse Group initiated coverage on shares of Red Hat in a research report on Tuesday, September 5th. They set a “neutral” rating and a $111.00 target price for the company. Piper Jaffray Companies reiterated a “hold” rating and set a $100.00 target price on shares of Red Hat in a research report on Sunday, August 27th. KeyCorp reiterated an “overweight” rating and set a $121.00 target price on shares of Red Hat in a research report on Friday, September 8th. Finally, Royal Bank Of Canada lifted their target price on shares of Red Hat from $106.00 to $121.00 and gave the company an “outperform” rating in a research report on Wednesday, September 20th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and twenty-four have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $111.86.
Shares of Red Hat (RHT) traded up $1.49 during midday trading on Friday, hitting $125.29. 1,101,263 shares of the company traded hands, compared to its average volume of 1,373,703. The company has a current ratio of 1.30, a quick ratio of 1.30 and a debt-to-equity ratio of 0.54. Red Hat has a 12 month low of $68.54 and a 12 month high of $129.61. The stock has a market capitalization of $22,072.06, a P/E ratio of 68.02, a price-to-earnings-growth ratio of 3.93 and a beta of 1.19.
Red Hat (NYSE:RHT) last issued its earnings results on Monday, September 25th. The open-source software company reported $0.77 EPS for the quarter, topping the consensus estimate of $0.67 by $0.10. Red Hat had a net margin of 11.49% and a return on equity of 25.27%. The company had revenue of $723.60 million for the quarter, compared to the consensus estimate of $699.56 million. During the same period in the previous year, the firm earned $0.55 earnings per share. The firm’s revenue for the quarter was up 20.6% on a year-over-year basis. equities analysts predict that Red Hat will post 2 EPS for the current year.
In related news, Director William S. Kaiser sold 14,000 shares of Red Hat stock in a transaction on Thursday, October 5th. The shares were sold at an average price of $114.79, for a total value of $1,607,060.00. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO James M. Whitehurst sold 12,000 shares of Red Hat stock in a transaction on Monday, October 2nd. The stock was sold at an average price of $111.15, for a total transaction of $1,333,800.00. Following the completion of the transaction, the chief executive officer now directly owns 392,979 shares in the company, valued at $43,679,615.85. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 34,172 shares of company stock worth $3,926,377. 0.66% of the stock is owned by insiders.
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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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