Red Hat (RHT) Now Covered by Analysts at Nomura

Stock analysts at Nomura began coverage on shares of Red Hat (NYSE:RHT) in a report released on Tuesday, The Fly reports. The firm set a “buy” rating and a $152.00 price target on the open-source software company’s stock. Nomura’s price target would suggest a potential upside of 18.61% from the company’s previous close.

Several other analysts also recently commented on the stock. Drexel Hamilton reaffirmed a “buy” rating and set a $130.00 price objective (up previously from $127.00) on shares of Red Hat in a research report on Monday, September 25th. Robert W. Baird reaffirmed a “hold” rating on shares of Red Hat in a research report on Tuesday, September 26th. Jefferies Group raised their price objective on shares of Red Hat to $100.00 and gave the stock a “hold” rating in a research report on Tuesday, September 26th. Stifel Nicolaus raised their price objective on shares of Red Hat from $115.00 to $125.00 and gave the stock a “buy” rating in a research report on Tuesday, September 26th. Finally, Morgan Stanley reaffirmed an “equal weight” rating and set a $98.00 price objective (down previously from $120.00) on shares of Red Hat in a research report on Tuesday, September 26th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and twenty-three have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $125.11.

Red Hat (NYSE:RHT) traded up $0.14 during trading hours on Tuesday, reaching $128.15. 1,476,399 shares of the company’s stock were exchanged, compared to its average volume of 1,580,214. The firm has a market cap of $22,680.00, a P/E ratio of 69.65, a PEG ratio of 3.85 and a beta of 1.19. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.37 and a quick ratio of 1.37. Red Hat has a twelve month low of $73.75 and a twelve month high of $130.93.

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

In other news, EVP Delisa Alexander sold 1,393 shares of Red Hat stock in a transaction on Wednesday, January 17th. The stock was sold at an average price of $124.87, for a total transaction of $173,943.91. Following the sale, the executive vice president now directly owns 36,420 shares in the company, valued at approximately $4,547,765.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO James M. Whitehurst sold 5,593 shares of Red Hat stock in a transaction on Wednesday, January 17th. The stock was sold at an average price of $124.87, for a total value of $698,397.91. Following the sale, the chief executive officer now owns 373,506 shares in the company, valued at $46,639,694.22. The disclosure for this sale can be found here. Insiders own 0.66% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Tredje AP fonden bought a new stake in shares of Red Hat during the 3rd quarter worth $345,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its stake in shares of Red Hat by 9.3% during the 3rd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 14,432 shares of the open-source software company’s stock worth $1,600,000 after purchasing an additional 1,224 shares during the period. State of Wisconsin Investment Board raised its stake in shares of Red Hat by 22.4% during the 3rd quarter. State of Wisconsin Investment Board now owns 264,085 shares of the open-source software company’s stock worth $29,276,000 after purchasing an additional 48,339 shares during the period. Great West Life Assurance Co. Can raised its stake in shares of Red Hat by 38.6% during the 3rd quarter. Great West Life Assurance Co. Can now owns 174,899 shares of the open-source software company’s stock worth $19,201,000 after purchasing an additional 48,695 shares during the period. Finally, American Century Companies Inc. raised its stake in shares of Red Hat by 6,697.1% during the 3rd quarter. American Century Companies Inc. now owns 953,634 shares of the open-source software company’s stock worth $105,720,000 after purchasing an additional 939,604 shares during the period. Institutional investors own 94.61% 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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