Red Hat (RHT) Earns Hold Rating from Robert W. Baird

Red Hat (NYSE:RHT)‘s stock had its “hold” rating reissued by equities research analysts at Robert W. Baird in a research note issued to investors on Wednesday, December 20th.

Several other research firms have also recently weighed in on RHT. Evercore ISI increased their target price on shares of Red Hat to $140.00 and gave the company a “buy” rating in a research note on Monday, December 18th. Cowen reiterated a “buy” rating and issued a $136.00 target price on shares of Red Hat in a research note on Monday, December 11th. Royal Bank of Canada increased their target price on shares of Red Hat to $134.00 and gave the company an “outperform” rating in a research note on Thursday, December 14th. Mizuho increased their target price on shares of Red Hat from $125.00 to $140.00 and gave the company a “buy” rating in a research note on Wednesday, December 13th. Finally, Barclays reiterated a “buy” rating and issued a $145.00 target price on shares of Red Hat in a research note on Wednesday, December 13th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and twenty-two have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $124.25.

Red Hat (NYSE:RHT) traded up $0.94 during mid-day trading on Wednesday, reaching $121.04. 2,360,000 shares of the company’s stock were exchanged, compared to its average volume of 1,780,000. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.37 and a quick ratio of 1.30. Red Hat has a one year low of $68.95 and a one year high of $130.93. The company has a market capitalization of $21,420.00, a PE ratio of 65.78, a price-to-earnings-growth ratio of 3.67 and a beta of 1.19.

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 the Thomson Reuters’ consensus estimate of $0.70 by $0.03. Red Hat had a net margin of 12.14% and a return on equity of 26.23%. The business had revenue of $747.98 million during the quarter, compared to analysts’ expectations of $734.69 million. During the same quarter last year, the company earned $0.61 earnings per share. The firm’s revenue was up 21.6% on a year-over-year basis. equities 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 firm’s stock in a transaction that occurred on Wednesday, October 18th. The shares were sold at an average price of $121.03, for a total transaction of $349,534.64. Following the completion of the sale, the insider now owns 8,751 shares of the company’s stock, valued at $1,059,133.53. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director William S. Kaiser sold 14,000 shares of the firm’s stock in a transaction that occurred on Thursday, October 5th. The stock was sold at an average price of $114.79, for a total transaction of $1,607,060.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 22,172 shares of company stock valued at $2,592,577. Corporate insiders own 0.66% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the company. D.A. Davidson & CO. increased its holdings in shares of Red Hat by 6.8% during the second quarter. D.A. Davidson & CO. now owns 1,071 shares of the open-source software company’s stock worth $102,000 after buying an additional 68 shares in the last quarter. Clear Perspective Advisors LLC acquired a new stake in shares of Red Hat during the second quarter worth approximately $112,000. Sun Life Financial INC increased its holdings in shares of Red Hat by 14,837.5% during the second quarter. Sun Life Financial INC now owns 1,195 shares of the open-source software company’s stock worth $114,000 after buying an additional 1,187 shares in the last quarter. BB&T Investment Services Inc. acquired a new stake in shares of Red Hat during the second quarter worth approximately $135,000. Finally, Zions Bancorporation acquired a new stake in shares of Red Hat during the third quarter worth approximately $164,000. 93.57% of the stock is owned by institutional investors.

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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.

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