Red Hat (NYSE:RHT) had its target price upped by analysts at Royal Bank of Canada to $134.00 in a report issued on Thursday, The Fly reports. The firm currently has an “outperform” rating on the open-source software company’s stock. Royal Bank of Canada’s price objective would indicate a potential upside of 6.24% from the company’s previous close.

A number of other analysts also recently issued reports on RHT. Zacks Investment Research downgraded Red Hat from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 22nd. Piper Jaffray Companies restated a “hold” rating and issued a $100.00 price target on shares of Red Hat in a research report on Sunday, August 27th. Credit Suisse Group started coverage on Red Hat in a research report on Tuesday, September 5th. They issued a “neutral” rating and a $111.00 price target for the company. Moffett Nathanson started coverage on Red Hat in a research report on Wednesday, September 6th. They issued a “buy” rating for the company. Finally, KeyCorp restated an “overweight” rating and issued a $121.00 price target on shares of Red Hat in a research report on Friday, September 8th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and twenty-four have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $115.74.

Shares of Red Hat (NYSE RHT) traded down $0.36 on Thursday, reaching $126.13. The company had a trading volume of 1,287,703 shares, compared to its average volume of 1,651,258. The company has a market capitalization of $22,419.72, a P/E ratio of 69.09, a PEG ratio of 4.00 and a beta of 1.19. Red Hat has a 12 month low of $68.54 and a 12 month high of $129.61. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.30 and a current ratio of 1.30.

Red Hat (NYSE:RHT) last issued its quarterly earnings results on Monday, September 25th. The open-source software company reported $0.77 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.67 by $0.10. The company had revenue of $723.60 million during the quarter, compared to the consensus estimate of $699.56 million. Red Hat had a return on equity of 25.27% and a net margin of 11.49%. Red Hat’s revenue was up 20.6% on a year-over-year basis. During the same period last year, the company earned $0.55 earnings per share. sell-side analysts anticipate that Red Hat will post 2 EPS for the current year.

In related news, EVP Delisa Alexander sold 1,073 shares of Red Hat stock in a transaction dated Tuesday, October 17th. The stock was sold at an average price of $120.36, for a total value of $129,146.28. Following the completion of the sale, the executive vice president now directly owns 38,150 shares in the company, valued at $4,591,734. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Michael A. Kelly sold 2,888 shares of Red Hat stock in a transaction dated Wednesday, October 18th. The shares were sold at an average price of $121.03, for a total value of $349,534.64. Following the completion of the sale, the insider now owns 8,751 shares of the company’s stock, valued at $1,059,133.53. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 34,172 shares of company stock valued at $3,926,377. Corporate insiders own 0.66% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its holdings in shares of Red Hat by 2.8% in the second quarter. Vanguard Group Inc. now owns 17,627,522 shares of the open-source software company’s stock valued at $1,687,836,000 after acquiring an additional 479,615 shares in the last quarter. FMR LLC raised its holdings in shares of Red Hat by 10.8% in the second quarter. FMR LLC now owns 11,165,642 shares of the open-source software company’s stock valued at $1,069,110,000 after acquiring an additional 1,085,953 shares in the last quarter. Northern Trust Corp raised its holdings in shares of Red Hat by 28.8% in the second quarter. Northern Trust Corp now owns 3,794,946 shares of the open-source software company’s stock valued at $363,365,000 after acquiring an additional 848,777 shares in the last quarter. TIAA CREF Investment Management LLC raised its holdings in shares of Red Hat by 34.4% in the second quarter. TIAA CREF Investment Management LLC now owns 1,302,954 shares of the open-source software company’s stock valued at $124,758,000 after acquiring an additional 333,408 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership raised its holdings in shares of Red Hat by 282.6% in the second quarter. Arrowstreet Capital Limited Partnership now owns 1,177,208 shares of the open-source software company’s stock valued at $112,718,000 after acquiring an additional 869,550 shares in the last quarter. Hedge funds and other institutional investors own 93.85% of the company’s stock.

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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.

The Fly

Analyst Recommendations for Red Hat (NYSE:RHT)

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