Shares of Red Hat Inc (NYSE:RHT) have received a consensus recommendation of “Buy” from the thirty-three research firms that are currently covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, nine have given a hold rating and twenty-three have given a buy rating to the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $127.10.
Several equities research analysts recently issued reports on RHT shares. Zacks Investment Research lowered shares of Red Hat from a “buy” rating to a “hold” rating in a report on Wednesday, December 27th. Bank of America reaffirmed an “underperform” rating and set a $115.00 price target on shares of Red Hat in a report on Tuesday, October 24th. Citigroup reaffirmed a “buy” rating and set a $148.00 price target on shares of Red Hat in a report on Wednesday, December 13th. BMO Capital Markets lifted their price target on shares of Red Hat from $128.00 to $142.00 and gave the company a “market perform” rating in a report on Wednesday, December 20th. Finally, BTIG Research lifted their price target on shares of Red Hat from $120.00 to $150.00 and gave the company a “buy” rating in a report on Wednesday, December 20th.
In other news, CEO James M. Whitehurst sold 5,593 shares of the business’s stock in a transaction that occurred on Wednesday, January 17th. The shares were sold at an average price of $124.87, for a total value of $698,397.91. Following the transaction, the chief executive officer now owns 373,506 shares in the company, valued at approximately $46,639,694.22. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director William S. Kaiser sold 7,700 shares of the business’s stock in a transaction that occurred on Friday, February 2nd. The stock was 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 owns 61,652 shares in the company, valued at approximately $8,014,760. The disclosure for this sale can be found here. Insiders sold a total of 14,686 shares of company stock worth $1,873,342 in the last 90 days. Corporate insiders own 0.66% of the company’s stock.
Shares of Red Hat (RHT) opened at $127.05 on Tuesday. The stock has a market cap of $22,490.00, a P/E ratio of 69.05, a P/E/G ratio of 3.91 and a beta of 1.23. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 0.53. Red Hat has a 1-year low of $77.40 and a 1-year high of $135.77.
Red Hat (NYSE:RHT) last announced its quarterly earnings results on Tuesday, December 19th. The open-source software company reported $0.73 earnings per share (EPS) for the quarter, beating the 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 firm’s revenue was up 21.6% on a year-over-year basis. During the same period in the previous year, the firm posted $0.61 EPS. research analysts anticipate that Red Hat will post 2.08 earnings per share for the current fiscal 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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