Red Hat (NYSE:RHT) had its price objective boosted by Evercore ISI to $140.00 in a report published on Monday, December 18th, The Fly reports. The firm currently has a buy rating on the open-source software company’s stock.
Other research analysts also recently issued research reports about the company. Deutsche Bank reissued a buy rating and issued a $120.00 price target (up previously from $110.00) on shares of Red Hat in a research note on Tuesday, September 26th. Wells Fargo & Co reissued an outperform rating and issued a $120.00 price target (up previously from $115.00) on shares of Red Hat in a research note on Tuesday, September 19th. Robert W. Baird reissued a hold rating on shares of Red Hat in a research note on Tuesday, September 26th. Cowen reissued an outperform rating and issued a $120.00 price target on shares of Red Hat in a research note on Sunday, September 24th. Finally, Drexel Hamilton reissued a buy rating and issued a $130.00 price target (up previously from $127.00) on shares of Red Hat in a research note on Monday, September 25th. One analyst has rated the stock with a sell rating, ten have given a hold rating and twenty-two have given a buy rating to the company. The company currently has a consensus rating of Buy and an average target price of $124.25.
Shares of Red Hat (NYSE:RHT) traded up $1.65 on Monday, reaching $126.16. The company’s stock had a trading volume of 2,100,000 shares, compared to its average volume of 1,890,000. The company has a market cap of $22,320.00, a price-to-earnings ratio of 68.57, a price-to-earnings-growth ratio of 3.79 and a beta of 1.19. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.37 and a quick ratio of 1.30. Red Hat has a 52-week low of $71.50 and a 52-week high of $130.93.
Red Hat (NYSE:RHT) last announced 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 firm had revenue of $747.98 million for the quarter, compared to analyst estimates of $734.69 million. Red Hat had a return on equity of 26.23% and a net margin of 12.14%. The business’s quarterly revenue was up 21.6% compared to the same quarter last year. During the same period last year, the company earned $0.61 EPS. equities analysts forecast that Red Hat will post 2.08 earnings per share for the current fiscal year.
In related news, CEO James M. Whitehurst sold 4,211 shares of Red Hat stock in a transaction dated Tuesday, October 17th. The stock was sold at an average price of $120.36, for a total transaction of $506,835.96. Following the completion of the transaction, the chief executive officer now owns 380,158 shares in the company, valued at $45,755,816.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Delisa Alexander sold 1,073 shares of Red Hat stock in a transaction dated Tuesday, October 17th. The stock was sold at an average price of $120.36, for a total value of $129,146.28. Following the transaction, the executive vice president now owns 38,150 shares of the company’s stock, valued at approximately $4,591,734. The disclosure for this sale can be found here. Insiders sold a total of 8,172 shares of company stock valued at $985,517 in the last 90 days. 0.66% of the stock is owned by corporate insiders.
Hedge funds have recently modified their holdings of the business. Tredje AP fonden acquired a new stake in Red Hat during the third quarter worth approximately $345,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its position in shares of Red Hat by 9.3% in the third quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 14,432 shares of the open-source software company’s stock valued at $1,600,000 after buying an additional 1,224 shares in the last quarter. State of Wisconsin Investment Board raised its position in shares of Red Hat by 22.4% in the third quarter. State of Wisconsin Investment Board now owns 264,085 shares of the open-source software company’s stock valued at $29,276,000 after buying an additional 48,339 shares in the last quarter. Great West Life Assurance Co. Can raised its position in shares of Red Hat by 38.6% in the third quarter. Great West Life Assurance Co. Can now owns 174,899 shares of the open-source software company’s stock valued at $19,201,000 after buying an additional 48,695 shares in the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. raised its position in shares of Red Hat by 17.6% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 576,206 shares of the open-source software company’s stock valued at $55,172,000 after buying an additional 86,292 shares in the last quarter. Hedge funds and other institutional investors own 93.57% of the company’s stock.
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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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