Red Hat Inc (RHT) Receives Consensus Rating of “Buy” from Analysts
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.
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.
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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