Red Hat Inc (RHT) Receives Consensus Rating of “Buy” from Brokerages

Shares of Red Hat Inc (NYSE:RHT) have earned an average recommendation of “Buy” from the thirty-three research firms that are presently covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and twenty-three have issued a buy rating on the company. The average 1-year price objective among brokers that have covered the stock in the last year is $127.10.

RHT has been the topic of several analyst reports. Bank of America reiterated an “underperform” rating and issued a $115.00 target price on shares of Red Hat in a report on Tuesday, October 24th. KeyCorp reiterated an “overweight” rating and issued a $135.00 target price (up from $125.00) on shares of Red Hat in a report on Monday, December 4th. Zacks Investment Research upgraded shares of Red Hat from a “hold” rating to a “buy” rating and set a $140.00 target price on the stock in a report on Tuesday, December 5th. Cowen reiterated a “buy” rating and issued a $136.00 target price on shares of Red Hat in a report on Monday, December 11th. Finally, Mizuho increased their price objective on shares of Red Hat from $125.00 to $140.00 and gave the stock a “buy” rating in a research report on Wednesday, December 13th.

In other news, EVP Delisa Alexander sold 1,393 shares of Red Hat stock in a transaction dated Wednesday, January 17th. The shares were sold at an average price of $124.87, for a total value of $173,943.91. Following the completion of the transaction, the executive vice president now owns 36,420 shares of the company’s stock, valued at approximately $4,547,765.40. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director William S. Kaiser sold 7,700 shares of Red Hat stock in a transaction dated Friday, February 2nd. The shares were sold at an average price of $130.00, for a total transaction of $1,001,000.00. Following the completion of the transaction, the director now directly owns 61,652 shares of the company’s stock, valued at approximately $8,014,760. The disclosure for this sale can be found here. In the last ninety days, insiders sold 14,686 shares of company stock valued at $1,873,342. 0.66% of the stock is owned by insiders.

Several institutional investors and hedge funds have recently made changes to their positions in RHT. D.A. Davidson & CO. grew its position in shares of 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 acquiring an additional 68 shares during the period. BB&T Investment Services Inc. bought a new position in shares of Red Hat in the 2nd quarter valued at about $135,000. Zions Bancorporation bought a new position in shares of Red Hat in the 3rd quarter valued at about $164,000. Calton & Associates Inc. bought a new position in shares of Red Hat in the 4th quarter valued at about $189,000. Finally, Winslow Evans & Crocker Inc. bought a new position in shares of Red Hat in the 4th quarter valued at about $193,000. 95.42% of the stock is owned by institutional investors.

Shares of Red Hat (NYSE RHT) opened at $127.05 on Tuesday. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 0.53. The firm has a market cap of $22,490.00, a price-to-earnings ratio of 69.05, a price-to-earnings-growth ratio of 3.91 and a beta of 1.23. Red Hat has a twelve month low of $77.40 and a twelve month high of $135.77.

Red Hat (NYSE:RHT) last posted its earnings results on Tuesday, December 19th. The open-source software company reported $0.73 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.70 by $0.03. The company had revenue of $747.98 million for the quarter, compared to analyst estimates of $734.69 million. Red Hat had a net margin of 12.14% and a return on equity of 26.23%. The business’s revenue for the quarter was up 21.6% compared to the same quarter last year. During the same period last year, the business posted $0.61 earnings per share. sell-side analysts anticipate that Red Hat will post 2.08 EPS for the current year.

ILLEGAL ACTIVITY WARNING: This news story was originally posted by Dispatch Tribunal and is the sole property of of Dispatch Tribunal. If you are reading this news story on another publication, it was illegally stolen and republished in violation of international copyright & trademark legislation. The original version of this news story can be viewed at https://www.dispatchtribunal.com/2018/02/13/red-hat-inc-rht-receives-consensus-rating-of-buy-from-brokerages.html.

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.

Analyst Recommendations for Red Hat (NYSE:RHT)

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.

Leave a Reply