Mizuho lowered shares of Red Hat (NYSE:RHT) from a buy rating to a neutral rating in a research report sent to investors on Monday, March 12th, MarketBeat.com reports. The firm currently has $160.00 target price on the open-source software company’s stock, up from their previous target price of $140.00.
Several other analysts also recently weighed in on the company. Zacks Investment Research downgraded Red Hat from a buy rating to a hold rating in a research note on Wednesday, December 27th. Citigroup restated a buy rating and issued a $148.00 price target on shares of Red Hat in a research note on Wednesday, December 13th. Nomura initiated coverage on Red Hat in a research note on Tuesday, January 23rd. They issued a buy rating and a $152.00 price target on the stock. BMO Capital Markets upped their price target on Red Hat from $128.00 to $142.00 and gave the stock a market perform rating in a research note on Wednesday, December 20th. Finally, BTIG Research upped their price target on Red Hat from $120.00 to $150.00 and gave the stock a buy rating in a research note on Wednesday, December 20th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and twenty-two have given a buy rating to the company. The company has an average rating of Buy and an average price target of $127.94.
RHT stock opened at $152.11 on Monday. Red Hat has a twelve month low of $81.06 and a twelve month high of $157.22. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 0.53. The firm has a market capitalization of $27,288.75, a P/E ratio of 83.12, a price-to-earnings-growth ratio of 4.09 and a beta of 1.06.
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 analysts’ consensus estimates of $0.70 by $0.03. The firm had revenue of $747.98 million for the quarter, compared to the consensus estimate of $734.69 million. Red Hat had a return on equity of 26.23% and a net margin of 12.14%. The business’s revenue for the quarter was up 21.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.61 EPS. sell-side analysts expect that Red Hat will post 2.08 earnings per share for the current fiscal year.
In related news, Director William S. Kaiser sold 7,700 shares of the firm’s stock in a transaction on Friday, February 2nd. The stock was sold at an average price of $130.00, for a total value of $1,001,000.00. Following the transaction, the director now directly owns 61,652 shares of the company’s stock, valued at approximately $8,014,760. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Delisa Alexander sold 1,393 shares of the firm’s stock in a transaction on Wednesday, January 17th. The stock was 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 directly owns 36,420 shares in the company, valued at $4,547,765.40. The disclosure for this sale can be found here. Insiders have sold a total of 14,686 shares of company stock worth $1,873,342 over the last three months. Insiders own 0.66% of the company’s stock.
Institutional investors have recently made changes to their positions in the stock. We Are One Seven LLC bought a new position in Red Hat in the 4th quarter worth $105,000. Zions Bancorporation bought a new position in Red Hat in the 3rd quarter worth $164,000. Calton & Associates Inc. bought a new position in Red Hat in the 4th quarter worth $189,000. Avestar Capital LLC bought a new position in Red Hat in the 4th quarter worth $168,000. Finally, Winslow Evans & Crocker Inc. bought a new position in Red Hat in the 4th quarter worth $193,000. 95.71% of the stock is currently 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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