Red Hat Inc (NYSE:RHT) has received an average recommendation of “Buy” from the thirty-three ratings firms that are covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, ten have assigned a hold recommendation and twenty-two have issued a buy recommendation on the company. The average 12 month price objective among brokers that have covered the stock in the last year is $124.54.

A number of brokerages have issued reports on RHT. JPMorgan Chase & Co. reissued an “overweight” rating and set a $117.00 target price (up previously from $110.00) on shares of Red Hat in a research note on Tuesday, September 26th. Drexel Hamilton reissued a “buy” rating and set a $127.00 target price on shares of Red Hat in a research note on Tuesday, September 19th. KeyCorp reissued an “overweight” rating and set a $125.00 target price (up previously from $121.00) on shares of Red Hat in a research note on Tuesday, September 26th. Sanford C. Bernstein reaffirmed a “market perform” rating and issued a $136.00 price objective (up previously from $115.00) on shares of Red Hat in a research note on Tuesday, September 26th. Finally, Morgan Stanley reaffirmed an “equal weight” rating and issued a $98.00 price objective (down previously from $120.00) on shares of Red Hat in a research note on Tuesday, September 26th.

Red Hat (RHT) opened at $126.16 on Friday. Red Hat has a 52 week low of $71.50 and a 52 week high of $130.93. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.37 and a quick ratio of 1.30. The company has a market cap of $22,320.00, a P/E ratio of 68.57, a P/E/G ratio of 3.79 and a beta of 1.19.

Red Hat (NYSE:RHT) last posted its quarterly earnings data on Tuesday, December 19th. The open-source software company reported $0.73 EPS for the quarter, topping analysts’ consensus estimates of $0.70 by $0.03. Red Hat had a net margin of 12.14% and a return on equity of 26.23%. The firm had revenue of $747.98 million during the quarter, compared to analyst estimates of $734.69 million. During the same quarter last year, the business posted $0.61 EPS. The company’s revenue was up 21.6% on a year-over-year basis. analysts forecast that Red Hat will post 2.08 earnings per share for the current fiscal year.

In other news, insider Michael A. Kelly sold 2,888 shares of the business’s stock in a transaction dated Wednesday, October 18th. The shares were sold at an average price of $121.03, for a total transaction of $349,534.64. Following the transaction, the insider now owns 8,751 shares in the company, valued at approximately $1,059,133.53. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Delisa Alexander sold 1,073 shares of the business’s stock in a transaction dated Tuesday, October 17th. The stock was sold at an average price of $120.36, for a total transaction of $129,146.28. Following the transaction, the executive vice president now owns 38,150 shares in the company, valued at approximately $4,591,734. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 8,172 shares of company stock worth $985,517. Insiders own 0.66% of the company’s stock.

Several institutional investors have recently modified their holdings of RHT. D.A. Davidson & CO. boosted its position in shares of Red Hat by 6.8% during the 2nd quarter. D.A. Davidson & CO. now owns 1,071 shares of the open-source software company’s stock valued at $102,000 after acquiring an additional 68 shares in the last quarter. Clear Perspective Advisors LLC acquired a new stake in shares of Red Hat during the 2nd quarter valued at about $112,000. Sun Life Financial INC boosted its position in Red Hat by 14,837.5% in the second quarter. Sun Life Financial INC now owns 1,195 shares of the open-source software company’s stock valued at $114,000 after buying an additional 1,187 shares in the last quarter. BB&T Investment Services Inc. acquired a new position in Red Hat in the second quarter valued at about $135,000. Finally, Zions Bancorporation acquired a new position in Red Hat in the third quarter valued at about $164,000. Institutional investors and hedge funds own 93.57% 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.

Analyst Recommendations for Red Hat (NYSE:RHT)

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