Red Hat (RHT) – Research Analysts’ Weekly Ratings Updates

Red Hat (NYSE: RHT) has recently received a number of price target changes and ratings updates:

  • 11/5/2018 – Red Hat was downgraded by analysts at Needham & Company LLC from a “buy” rating to a “hold” rating.
  • 10/30/2018 – Red Hat was downgraded by analysts at Citigroup Inc from a “buy” rating to a “neutral” rating. They now have a $190.00 price target on the stock, up previously from $163.00.
  • 10/30/2018 – Red Hat was downgraded by analysts at Nomura from a “buy” rating to a “hold” rating. They now have a $190.00 price target on the stock, up previously from $175.00.
  • 10/29/2018 – Red Hat was upgraded by analysts at ValuEngine from a “buy” rating to a “strong-buy” rating.
  • 10/29/2018 – Red Hat was downgraded by analysts at Northland Securities from an “outperform” rating to a “market perform” rating.
  • 10/29/2018 – Red Hat had its price target raised by analysts at Jefferies Financial Group Inc from $140.00 to $190.00. They now have a “hold” rating on the stock.
  • 10/29/2018 – Red Hat was given a new $190.00 price target on by analysts at Credit Suisse Group AG. They now have a “hold” rating on the stock.
  • 10/29/2018 – Red Hat was downgraded by analysts at Deutsche Bank AG from a “buy” rating to a “hold” rating. They now have a $190.00 price target on the stock, up previously from $170.00.
  • 10/29/2018 – Red Hat was downgraded by analysts at Stifel Nicolaus from a “buy” rating to a “hold” rating. They now have a $190.00 price target on the stock.
  • 10/29/2018 – Red Hat had its “hold” rating reaffirmed by analysts at Robert W. Baird.
  • 10/29/2018 – Red Hat had its price target raised by analysts at Royal Bank of Canada to $190.00.
  • 10/22/2018 – Red Hat is now covered by analysts at Needham & Company LLC. They set a “buy” rating and a $183.00 price target on the stock.
  • 10/18/2018 – Red Hat had its “neutral” rating reaffirmed by analysts at Robert W. Baird.
  • 10/9/2018 – Red Hat was downgraded by analysts at ValuEngine from a “buy” rating to a “hold” rating.
  • 9/21/2018 – Red Hat had its price target lowered by analysts at Oppenheimer Holdings Inc. from $175.00 to $165.00. They now have an “outperform” rating on the stock.
  • 9/21/2018 – Red Hat had its price target lowered by analysts at Piper Jaffray Companies to $145.00. They now have a “neutral” rating on the stock.
  • 9/21/2018 – Red Hat had its price target lowered by analysts at Jefferies Financial Group Inc from $154.00 to $140.00. They now have a “hold” rating on the stock.
  • 9/20/2018 – Red Hat had its price target lowered by analysts at KeyCorp from $184.00 to $180.00. They now have an “overweight” rating on the stock.
  • 9/20/2018 – Red Hat had its price target lowered by analysts at BMO Capital Markets from $177.00 to $158.00. They now have an “outperform” rating on the stock.
  • 9/20/2018 – Red Hat had its price target lowered by analysts at Nomura from $182.00 to $175.00. They now have a “buy” rating on the stock.
  • 9/20/2018 – Red Hat had its price target lowered by analysts at Stifel Nicolaus from $172.00 to $160.00. They now have a “buy” rating on the stock.
  • 9/20/2018 – Red Hat had its price target lowered by analysts at Citigroup Inc from $167.00 to $163.00. They now have a “buy” rating on the stock.
  • 9/18/2018 – Red Hat was downgraded by analysts at JPMorgan Chase & Co. from an “overweight” rating to a “neutral” rating. They now have a $150.00 price target on the stock, down previously from $160.00.
  • 9/17/2018 – Red Hat had its price target lowered by analysts at Royal Bank of Canada to $169.00. They now have an “outperform” rating on the stock.
  • 9/13/2018 – Red Hat was downgraded by analysts at OTR Global to a “positive” rating.
  • 9/7/2018 – Red Hat had its price target raised by analysts at Barclays PLC from $160.00 to $166.00. They now have an “overweight” rating on the stock.

Shares of NYSE:RHT traded up $0.19 during trading on Tuesday, hitting $173.50. The stock had a trading volume of 3,382,538 shares, compared to its average volume of 2,185,977. Red Hat Inc has a 12 month low of $115.31 and a 12 month high of $177.70. The firm has a market capitalization of $30.31 billion, a P/E ratio of 75.43, a P/E/G ratio of 4.47 and a beta of 0.71. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.23 and a current ratio of 1.23.

Red Hat (NYSE:RHT) last announced its earnings results on Wednesday, September 19th. The open-source software company reported $0.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.82 by $0.03. Red Hat had a return on equity of 31.80% and a net margin of 9.15%. The firm had revenue of $822.75 million during the quarter, compared to analyst estimates of $828.12 million. During the same quarter in the prior year, the company earned $0.77 EPS. The business’s revenue was up 13.7% compared to the same quarter last year. On average, equities analysts forecast that Red Hat Inc will post 2.57 EPS for the current fiscal year.

In related news, EVP Delisa Alexander sold 960 shares of the firm’s stock in a transaction that occurred on Wednesday, October 17th. The stock was sold at an average price of $125.03, for a total transaction of $120,028.80. Following the completion of the transaction, the executive vice president now owns 33,217 shares of the company’s stock, valued at approximately $4,153,121.51. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO James M. Whitehurst sold 2,513 shares of the firm’s stock in a transaction that occurred on Wednesday, October 17th. The shares were sold at an average price of $125.03, for a total value of $314,200.39. Following the transaction, the chief executive officer now directly owns 361,627 shares of the company’s stock, valued at approximately $45,214,223.81. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 3,631 shares of company stock valued at $453,984. 0.58% of the stock is owned by corporate insiders.

A number of hedge funds have recently bought and sold shares of RHT. Migdal Insurance & Financial Holdings Ltd. increased its position in Red Hat by 16,350.0% during the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 987 shares of the open-source software company’s stock valued at $133,000 after buying an additional 981 shares in the last quarter. Quad Cities Investment Group LLC bought a new position in Red Hat during the 2nd quarter valued at approximately $134,000. Financial Architects Inc increased its position in Red Hat by 95.2% during the 2nd quarter. Financial Architects Inc now owns 1,025 shares of the open-source software company’s stock valued at $137,000 after buying an additional 500 shares in the last quarter. Truvestments Capital LLC bought a new position in Red Hat during the 3rd quarter valued at approximately $138,000. Finally, Stratos Wealth Partners LTD. bought a new position in Red Hat during the 3rd quarter valued at approximately $146,000. 95.77% of the stock is owned by institutional investors.

Red Hat, Inc provides open source software solutions to develop and offer operating system, virtualization, management, middleware, cloud, mobile, and storage technologies to various enterprises worldwide. It offers infrastructure-related solutions, such as Red Hat Enterprise Linux, an operating system platform that runs on hardware for use in hybrid cloud environments; Red Hat Satellite, a system management offering that helps to deploy, scale, and manage in hybrid cloud environments; and Red Hat Enterprise Virtualization, a software solution that allows customers to utilize and manage a common hardware infrastructure to run multiple operating systems and applications.

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