Shares of Red Hat Inc (NYSE:RHT) have earned an average recommendation of “Buy” from the thirty-three research firms that are presently covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and twenty-three have issued a buy rating on the company. The average 1-year price objective among brokers that have covered the stock in the last year is $127.10.
RHT has been the topic of several analyst reports. Bank of America reiterated an “underperform” rating and issued a $115.00 target price on shares of Red Hat in a report on Tuesday, October 24th. KeyCorp reiterated an “overweight” rating and issued a $135.00 target price (up from $125.00) on shares of Red Hat in a report on Monday, December 4th. Zacks Investment Research upgraded shares of Red Hat from a “hold” rating to a “buy” rating and set a $140.00 target price on the stock in a report on Tuesday, December 5th. Cowen reiterated a “buy” rating and issued a $136.00 target price on shares of Red Hat in a report on Monday, December 11th. Finally, Mizuho increased their price objective on shares of Red Hat from $125.00 to $140.00 and gave the stock a “buy” rating in a research report on Wednesday, December 13th.
In other news, EVP Delisa Alexander sold 1,393 shares of Red Hat stock in a transaction dated Wednesday, January 17th. The shares were sold at an average price of $124.87, for a total value of $173,943.91. Following the completion of the transaction, the executive vice president now owns 36,420 shares of the company’s stock, valued at approximately $4,547,765.40. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director William S. Kaiser sold 7,700 shares of Red Hat stock in a transaction dated Friday, February 2nd. The shares were sold at an average price of $130.00, for a total transaction of $1,001,000.00. Following the completion of the transaction, the director now directly owns 61,652 shares of the company’s stock, valued at approximately $8,014,760. The disclosure for this sale can be found here. In the last ninety days, insiders sold 14,686 shares of company stock valued at $1,873,342. 0.66% of the stock is owned by insiders.
Shares of Red Hat (NYSE RHT) opened at $127.05 on Tuesday. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 0.53. The firm has a market cap of $22,490.00, a price-to-earnings ratio of 69.05, a price-to-earnings-growth ratio of 3.91 and a beta of 1.23. Red Hat has a twelve month low of $77.40 and a twelve month high of $135.77.
Red Hat (NYSE:RHT) last posted its earnings results on Tuesday, December 19th. The open-source software company reported $0.73 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.70 by $0.03. The company had revenue of $747.98 million for the quarter, compared to analyst estimates of $734.69 million. Red Hat had a net margin of 12.14% and a return on equity of 26.23%. The business’s revenue for the quarter was up 21.6% compared to the same quarter last year. During the same period last year, the business posted $0.61 earnings per share. sell-side analysts anticipate that Red Hat will post 2.08 EPS for the current year.
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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