Traders Buy High Volume of Red Hat Put Options (RHT)
Red Hat (NYSE:RHT) was the recipient of some unusual options trading on Wednesday. Investors bought 18,977 put options on the stock, Stock Ratings Network reports. This represents an increase of approximately 1,328% compared to the typical daily volume of 1,329 put options.
A number of analysts have recently weighed in on RHT shares. Analysts at JPMorgan Chase & Co. raised their price target on shares of Red Hat from $40.00 to $46.00 in a research note on Friday, March 28th. Separately, analysts at Raymond James raised their price target on shares of Red Hat from $59.00 to $63.00 in a research note on Friday, March 28th. Finally, analysts at Robert W. Baird raised their price target on shares of Red Hat from $60.00 to $65.00 in a research note on Friday, March 28th. Four equities research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $62.46.
Red Hat (NYSE:RHT) traded up 1.28% during mid-day trading on Wednesday, hitting $53.10. The stock had a trading volume of 3,211,902 shares. Red Hat has a 1-year low of $41.89 and a 1-year high of $61.45. The stock has a 50-day moving average of $50.04 and a 200-day moving average of $53.53. The company has a market cap of $10.054 billion and a price-to-earnings ratio of 56.38.
Red Hat (NYSE:RHT) last released its earnings data on Wednesday, June 18th. The company reported $0.34 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.33 by $0.01. The company had revenue of $423.80 million for the quarter, compared to the consensus estimate of $413.97 million. During the same quarter in the prior year, the company posted $0.32 earnings per share. The company’s quarterly revenue was up 16.7% on a year-over-year basis. Analysts expect that Red Hat will post $1.55 EPS for the current fiscal year.
Red Hat, Inc (NYSE:RHT) is a global provider of open source software solutions, using a community-powered approach to develop and offer operating system, middleware, virtualization, storage and cloud technologies.
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