Red Hat (NYSE:RHT)‘s stock had its “hold” rating reissued by analysts at Robert W. Baird in a report released on Wednesday, December 20th.
A number of other equities research analysts also recently issued reports on the stock. Bank of America reissued an “underperform” rating and set a $115.00 price objective on shares of Red Hat in a research report on Tuesday, October 24th. Credit Suisse Group began coverage on shares of Red Hat in a report on Tuesday, September 5th. They issued a “neutral” rating and a $111.00 target price for the company. Moffett Nathanson assumed coverage on shares of Red Hat in a report on Wednesday, September 6th. They issued a “buy” rating for the company. Piper Jaffray Companies reissued a “hold” rating and set a $100.00 price objective on shares of Red Hat in a report on Sunday, August 27th. Finally, KeyCorp restated an “overweight” rating and set a $121.00 target price on shares of Red Hat in a research 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 issued a buy rating to the company. Red Hat has a consensus rating of “Buy” and a consensus price target of $124.25.
Shares of Red Hat (RHT) traded down $0.21 during midday trading on Wednesday, reaching $125.95. 1,066,900 shares of the company were exchanged, compared to its average volume of 1,920,000. The stock has a market cap of $22,290.00, a price-to-earnings ratio of 68.45, a P/E/G ratio of 3.85 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 52 week low of $71.50 and a 52 week high of $130.93.
Red Hat (NYSE:RHT) last announced its earnings results on Tuesday, December 19th. The open-source software company reported $0.73 earnings per share for the quarter, beating analysts’ consensus estimates of $0.70 by $0.03. Red Hat had a net margin of 12.14% and a return on equity of 26.23%. The business had revenue of $747.98 million during the quarter, compared to analyst estimates of $734.69 million. During the same period in the previous year, the business earned $0.61 EPS. The company’s quarterly revenue was up 21.6% compared to the same quarter last year. equities research analysts predict that Red Hat will post 2.08 earnings per share for the current year.
In related news, CEO James M. Whitehurst sold 4,211 shares of the firm’s stock in a transaction 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 transaction, the chief executive officer now owns 380,158 shares of the company’s stock, valued at $45,755,816.88. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Michael A. Kelly sold 2,888 shares of the firm’s stock in a transaction on Wednesday, October 18th. The stock was sold at an average price of $121.03, for a total transaction of $349,534.64. Following the transaction, the insider now directly owns 8,751 shares of the company’s stock, valued at approximately $1,059,133.53. The disclosure for this sale can be found here. In the last ninety days, insiders sold 8,172 shares of company stock valued at $985,517. Corporate insiders own 0.66% of the company’s stock.
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. D.A. Davidson & CO. increased its holdings in Red Hat by 6.8% in the second quarter. D.A. Davidson & CO. now owns 1,071 shares of the open-source software company’s stock valued at $102,000 after buying an additional 68 shares in the last quarter. Clear Perspective Advisors LLC purchased a new position in Red Hat in the second quarter valued at $112,000. Sun Life Financial INC increased its holdings in Red Hat by 14,837.5% in the second quarter. Sun Life Financial INC now owns 1,195 shares of the open-source software company’s stock valued at $114,000 after buying an additional 1,187 shares in the last quarter. BB&T Investment Services Inc. purchased a new position in Red Hat in the second quarter valued at $135,000. Finally, Zions Bancorporation purchased a new position in Red Hat in the third quarter valued at $164,000. 93.57% of the stock is owned by institutional investors.
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About Red Hat
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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