Red Hat Inc (NYSE:RHT) has earned an average recommendation of “Hold” from the thirty-one brokerages that are currently covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, sixteen have given a hold recommendation, twelve have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year target price among brokerages that have covered the stock in the last year is $163.16.
Several equities research analysts have recently commented on RHT shares. Barclays boosted their target price on shares of Red Hat from $160.00 to $166.00 and gave the company an “overweight” rating in a research note on Friday, September 7th. OTR Global cut Red Hat to a “positive” rating in a report on Thursday, September 13th. Royal Bank of Canada cut their price target on Red Hat to $169.00 and set an “outperform” rating for the company in a report on Monday, September 17th. JPMorgan Chase & Co. cut Red Hat from an “overweight” rating to a “neutral” rating and cut their price target for the company from $160.00 to $150.00 in a report on Tuesday, September 18th. Finally, BMO Capital Markets cut their price target on Red Hat from $177.00 to $158.00 and set an “outperform” rating for the company in a report on Thursday, September 20th.
Shares of NYSE:RHT opened at $178.56 on Monday. Red Hat has a 52 week low of $115.31 and a 52 week high of $179.49. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.23 and a current ratio of 1.23. The firm has a market capitalization of $31.42 billion, a PE ratio of 77.63, a PEG ratio of 4.64 and a beta of 0.71.
Red Hat (NYSE:RHT) last issued its earnings results on Wednesday, September 19th. The open-source software company reported $0.85 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.82 by $0.03. Red Hat had a net margin of 9.15% and a return on equity of 31.80%. The company had revenue of $822.75 million for the quarter, compared to the consensus estimate of $828.12 million. During the same quarter in the previous year, the company earned $0.77 EPS. The firm’s revenue for the quarter was up 13.7% compared to the same quarter last year. On average, sell-side analysts forecast that Red Hat will post 2.57 EPS for the current year.
In other Red Hat news, EVP Delisa Alexander sold 960 shares of the business’s stock in a transaction dated Wednesday, October 17th. The stock was sold at an average price of $125.03, for a total transaction of $120,028.80. Following the completion of the sale, the executive vice president now directly owns 33,217 shares of the company’s stock, valued at approximately $4,153,121.51. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO James M. Whitehurst sold 2,513 shares of the business’s stock in a transaction dated Wednesday, October 17th. The stock was sold at an average price of $125.03, for a total value of $314,200.39. Following the sale, the chief executive officer now directly owns 361,627 shares of the company’s stock, valued at $45,214,223.81. The disclosure for this sale can be found here. Insiders have sold a total of 3,631 shares of company stock valued at $453,984 over the last three months. Company insiders own 0.58% of the company’s stock.
A number of large investors have recently made changes to their positions in the business. Vanguard Group Inc. raised its holdings in Red Hat by 0.6% during the 3rd quarter. Vanguard Group Inc. now owns 18,703,926 shares of the open-source software company’s stock worth $2,548,970,000 after purchasing an additional 103,057 shares during the last quarter. Sustainable Growth Advisers LP grew its position in shares of Red Hat by 11.6% during the 3rd quarter. Sustainable Growth Advisers LP now owns 2,221,772 shares of the open-source software company’s stock worth $302,783,000 after buying an additional 230,675 shares during the period. Janus Henderson Group PLC grew its position in shares of Red Hat by 64.9% during the 2nd quarter. Janus Henderson Group PLC now owns 2,162,044 shares of the open-source software company’s stock worth $290,527,000 after buying an additional 850,715 shares during the period. MERIAN GLOBAL INVESTORS UK Ltd grew its position in shares of Red Hat by 1.2% during the 3rd quarter. MERIAN GLOBAL INVESTORS UK Ltd now owns 1,832,275 shares of the open-source software company’s stock worth $249,702,000 after buying an additional 21,970 shares during the period. Finally, Blair William & Co. IL grew its position in shares of Red Hat by 3.6% during the 3rd quarter. Blair William & Co. IL now owns 1,487,185 shares of the open-source software company’s stock worth $202,674,000 after buying an additional 51,258 shares during the period. 94.46% of the stock is owned by hedge funds and other institutional investors.
Red Hat Company Profile
Red Hat, Inc provides open source software solutions to develop and offer operating system, virtualization, management, middleware, cloud, mobile, and storage technologies to various enterprises worldwide. It offers infrastructure-related solutions, such as Red Hat Enterprise Linux, an operating system platform that runs on hardware for use in hybrid cloud environments; Red Hat Satellite, a system management offering that helps to deploy, scale, and manage in hybrid cloud environments; and Red Hat Enterprise Virtualization, a software solution that allows customers to utilize and manage a common hardware infrastructure to run multiple operating systems and applications.
Further Reading: Quiet Period
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