Red Hat Inc. Hits New 52-Week Low at $44.31 (RHT)
Shares of Red Hat (NYSE:RHT) hit a new 52-week low during mid-day trading on Thursday, Analyst Ratings Network reports. The stock traded as low as $44.31 and last traded at $44.82, with a volume of 2,527,447 shares trading hands. The stock had previously closed at $45.27.
RHT has been the subject of a number of recent research reports. Analysts at Robert W. Baird cut their price target on shares of Red Hat (NYSE:RHT) from $57.00 to $54.00 in a research note to investors on Friday, September 27th. They now have an “outperform” rating on the stock. Separately, analysts at Susquehanna cut their price target on shares of Red Hat (NYSE:RHT) from $50.00 to $48.00 in a research note to investors on Tuesday, September 24th. They now have a “neutral” rating on the stock. Finally, analysts at Jefferies Group cut their price target on shares of Red Hat (NYSE:RHT) from $65.00 to $60.00 in a research note to investors on Tuesday, September 24th. They now have a “buy” rating on the stock. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating and thirteen have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $54.76.
Red Hat has a one year low of $44.92 and a one year high of $57.10. The stock has a 50-day moving average of $50.77 and a 200-day moving average of $49.68. The company has a market cap of $8.508 billion and a price-to-earnings ratio of 55.21.
Red Hat (NYSE:RHT) last released its earnings data on Monday, September 23rd. The company reported $0.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.33 by $0.02. The company had revenue of $374.00 million for the quarter, compared to the consensus estimate of $372.10 million. During the same quarter in the previous year, the company posted $0.28 earnings per share. The company’s revenue for the quarter was up 16.1% on a year-over-year basis. On average, analysts predict that Red Hat will post $1.38 earnings per share for the current fiscal year.
Red Hat, Inc (NYSE:RHT) is engaged in providing open source software solutions to the enterprise, including its Red Hat Enterprise Linux and JBoss Enterprise Middleware.
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