Vetr upgraded shares of Red Hat Inc. (NYSE:RHT) from a buy rating to a strong-buy rating in a research report report published on Tuesday morning. Vetr currently has $82.00 target price on the open-source software company’s stock.
Several other equities analysts also recently commented on the stock. Rosenblatt Securities reiterated a buy rating and set a $95.00 price target on shares of Red Hat in a report on Monday, December 26th. Oppenheimer Holdings Inc. set a $88.00 price target on shares of Red Hat and gave the company a buy rating in a report on Thursday, September 22nd. JMP Securities reiterated an outperform rating and set a $93.00 price target (down from $97.00) on shares of Red Hat in a report on Friday, December 23rd. Stifel Nicolaus downgraded shares of Red Hat from a buy rating to a hold rating and cut their price target for the company from $87.00 to $70.00 in a report on Thursday, December 22nd. Finally, Jefferies Group cut their price target on shares of Red Hat from $79.00 to $76.00 and set a hold rating on the stock in a report on Thursday, December 22nd. One analyst has rated the stock with a sell rating, seven have issued a hold rating, twenty-two have assigned a buy rating and one has assigned a strong buy rating to the stock. Red Hat presently has a consensus rating of Buy and a consensus price target of $86.56.
Red Hat (NYSE:RHT) opened at 73.92 on Tuesday. Red Hat has a 12-month low of $59.59 and a 12-month high of $82.73. The stock has a market capitalization of $13.18 billion, a price-to-earnings ratio of 56.43 and a beta of 1.47. The stock’s 50 day moving average is $74.96 and its 200 day moving average is $75.53.
Red Hat (NYSE:RHT) last announced its earnings results on Wednesday, December 21st. The open-source software company reported $0.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.58 by $0.03. The firm had revenue of $615 million for the quarter. Red Hat had a net margin of 10.36% and a return on equity of 20.57%. The firm’s quarterly revenue was up 17.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.48 earnings per share. Equities analysts predict that Red Hat will post $2.27 earnings per share for the current fiscal year.
In related news, EVP Delisa Alexander sold 1,365 shares of the stock in a transaction that occurred on Wednesday, January 18th. The shares were sold at an average price of $72.83, for a total transaction of $99,412.95. Following the completion of the sale, the executive vice president now owns 55,450 shares of the company’s stock, valued at $4,038,423.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.76% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of RHT. Chicago Equity Partners LLC boosted its position in Red Hat by 16.8% in the second quarter. Chicago Equity Partners LLC now owns 25,525 shares of the open-source software company’s stock worth $1,853,000 after buying an additional 3,680 shares in the last quarter. Sumitomo Mitsui Asset Management Company LTD boosted its position in Red Hat by 1.5% in the second quarter. Sumitomo Mitsui Asset Management Company LTD now owns 13,697 shares of the open-source software company’s stock worth $994,000 after buying an additional 209 shares in the last quarter. LMR Partners LLP bought a new position in Red Hat during the second quarter worth about $1,130,000. ING Groep NV bought a new position in Red Hat during the second quarter worth about $468,000. Finally, Essex Investment Management Co. LLC bought a new position in Red Hat during the second quarter worth about $1,261,000. 94.41% of the stock is owned by institutional investors and hedge funds.
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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